Gartmore shares closed Wednesday almost 8% up at 125p after the fallout from the suspension of star manager Guillaume Rambourg hit its stock yesterday afternoon and early this morning.

Henderson's Stephen Peak remains comfortable with his near 12% stake in Gartmore despite seeing the fund manager's share price slide more than 30% this week.

Midas Capital will sell off £62m in Guernsey and South African-based offshore funds over the next month in the final disposal of its non-core assets.

Gartmore's Guillaume Rambourg is being investigated for favouring certain brokers when carrying out dealings, Reuters understands.

Gartmore has suspended high profile fund manager Guillaume Rambourg pending the outcome of an internal investigation in relation to trading breaches.

Britain had its AAA credit rating affirmed by Standard & Poor's yesterday, but the ratings agency retained its negative outlook over continued deficit concerns.

The US Treasury expects to sell its 27% Citigroup stake before the end of the year as it looks to profit from one of the largest government investments of the financial crisis.

Shares in Gartmore fell almost 4% on Monday amid continuing speculation about links between star fund manager Roger Guy and a broker caught up in a FSA investigation into insider trading.

Investec plans to take over the remaining 52% stake in investment management firm Rensburg Sheppards for £412m.

The Legg Mason Western Asset Global Credit Absolute Return fund is set to launch on 1 May with a strong bias towards senior and subordinated financial debt.