Legg Mason's Mary Chris Gay has diversified the financials holdings in the $4.8bn (£3.2bn) Value trust she runs with Bill Miller after the fund's exposure to banks hit it hard last year.

Economic sentiment in Germany slid last week following signs the recovery is slowing, according to the Centre for European Economic Research (ZEW) in Mannheim.

PSigma's James Abate says the US market has hit its trough and will not slump further this year, but is likely to see a "huge rally" in the reporting season.

Fears Hungary will be the next European country to suffer a debt crisis are unfounded, and simply based on "political rhetoric", say Axa strategists Raphael Gallardo and Sebastian Paris-Horvitz.

The UK Government's public sector borrowing fell below expectations in May, according to figures released today by the Office for National Statistics.

Skandia has passed a £95m UK equity mandate from Mirabaud to Old Mutual mid- and small-cap specialist Richard Watts.

The UK's new coalition Government is preparing to make large-scale spending cuts in an attempt to reduce the country's worryingly large Budget deficit, and managers are bracing themselves for the possible impact.

Japan's new premier, Naoto Kan, has warned Japan is at 'risk of collapse' under its huge debt pile.

The FTSE 100 opened at 5,132 today and climbed 0.23% higher in early trading, bolstered by beleaguered oil major BP.

Querns Asset Managers founders Phil Roantree and Stephen Whittaker have revealed plans for the next two funds to be launched through their start-up boutique.