US indices have opened almost 2% higher on the first trading day of 2012 as risk appetite resumes across global markets.

Discretionary fund manager Saltus has launched a global equity fund in an extension of its IFA-focused offerings.

A Greek government spokesman has said the country will leave the single currency if it fails to secure a second, €130bn bailout deal by March.

CHALLENGING RECEIVED WISDOM

Liontrust's Eoghan Flanagan has urged Chinese policymakers to accelerate monetary easing by the end of the year in order to help boost a slowing economy.

Markets have struggled to gain further ground after the European Central Bank announced it had lent almost €500bn to banks in a three-year liquidity operation.

London's leading index has been impacted by both ‘black swan' events and heightened volatility over the past 12 months.

UK equity managers who were overweight defensives at the start of the year - or earlier - had to be patient at first, but were rewarded at the start of July when cyclicals fell firmly out of favour.

North Investment Partners has appointed three non-executive directors to its board as it seeks to strengthen its business ahead of RDR.

The FTSE 100 was trading 1.8% lower at 3pm as US markets slipped at the open following a poor Italian debt auction and signs of division re-emerging among eurozone leaders.