The UK is still in danger of losing its prized AAA rating despite the fiscal tightening measures unveiled by the new coalition Government last month, Standard & Poor's says.

Henderson head of retail fixed income John Pattullo believes subordinated bank bonds could enjoy a sharp price spike should this month's European stress tests prove positive.

The number of UK-listed companies issuing profit warnings fell to the lowest level in about seven years during the second quarter.

BP faced fresh takeover speculation on the weekend after the Obama administration reportedly told ExxonMobil it would not stand in the way of a takeover bid for its troubled British rival.

Chancellor George Osborne is considering dropping the Pre-Budget Report from the coalition Government's roster of economic events.

Schroders' Richard Buxton will snub the high-profile Ocado IPO, saying the 200p to 275p per share price is far too excessive.

Miners and banks are driving the FTSE upwards this morning, as London's leading shares continue to rebound on the back of Wall Street's stellar showing yesterday.

FUND MANAGER OF THE YEAR AWARDS - THE WINNERS

M&G scooped three gongs at the 15th annual Investment Week Fund Manager of the Year awards last night, including the prestigious Global Group of the Year title.

M&G multi-asset fund manager David Jane has decided to leave the group.