BP shares have moved almost 5% higher this afternoon as Libya's top oil official recommended the North African country to buy into the stricken giant.

The Shanghai Composite index slumped to a 15-month low today after data pointed to slowing growth and inflation concerns.

The Government could look to offload part of its RBS stake as early as next year as the bank moves to complete an overhaul of its business, chief executive Stephen Hester says.

Neptune has added a new high conviction UK equity fund for analyst Nicola Muirhead.

Betting against sterling has fallen significantly since the emergency Budget, with hedge funds and speculators closing short positions.

BP is looking for sovereign wealth funds or rival groups to take a 5-10% stake in the oil giant as the fallout from the Gulf of Mexico disaster continues.

Lloyds is coming under pressure from shareholders to sell Scottish Widows, which could fetch the banking giant about £7bn.

Anthony Bolton's Fidelity China Special Situations trust has issued a further 11 million shares, primarily to assist trackers wishing to buy the vehicle following its admission to the FTSE 250.

Peter Hicks, head of UK retail sales at Fidelity International, has been promoted to product director, UK equities, effective from 1 August.

The financial press is largely reporting the emergency Budget has been as scary as promised, with "bloodbath", "eye-watering", and "excruciating" all featuring among the headlines.