US markets climbed overnight to finish the session stronger ahead as Greece managed to avert an immediate default.

Darwin's David Jane has bought back into banks for the first time in ‘many years' in the view they are trading well below book value and can rise significantly from here.

Jupiter Fund Management saw pre-tax profits jump in 2011 despite a fall in AUM, and has hiked its dividend by 13%.

Aberdeen is taking on the management of two emerging market Credit Suisse funds, which will be merged into existing offshore portfolios run by Devan Kaloo and Brett Diment.

Asset managers and business leaders including Neil Woodford and Terry Leahy have criticised short-termism among UK investors and warned it is a threat to equity markets.

Schroders has cut the initial charge on a range of unit trusts from 5.25% to 3.25% ahead of the Retail Distribution Review.

Man Group shares soared in morning trading despite the group reporting a 40% fall in pre-tax profits for the nine months ended 31 December 2011.

German parliament yesterday approved a €130bn euro rescue package for Greece, while S&P downgraded Greece's credit rating to ‘SD' or selective default.

US markets slid into negative territory shortly after the open, while European indices fell further after a day in the red, ahead of a crucial vote on Greece.

Schroders is set to add a European equity offering to its offshore range on 7 March.