Fidelity's asset allocation director Trevor Greetham has bought Italian government debt at the margin in his multi-asset portfolios in expectation of ECB intervention, after yields spiked to record highs.

Silvio Berlusconi's pledge to resign has failed to calm investor nervousness on Italian sovereign debt, with yields on 10-year bonds rising above the crucial 7% mark this morning.

Italian prime minister Silvio Berlusconi faces renewed calls to resign after he failed to secure a parliamentary majority in a budget vote among MPs.

Royal London AM has launched an International Government Bond fund for George Henderson.

Markets moved lower on Monday as fears over Greece and Italy remained despite the imminent formation of a Greek coalition government.

Fidelity has expanded its Fidelity Active Strategy range for discretionaries with the launch of an Emerging Markets fund managed by Nick Price.

US non-farm payrolls for October have come in below expectations, but revisions to previous figures have helped reassure markets as investors wait for further developments on Europe.

Bank of America is planning to issue new shares in exchange for existing preferred stock and debt that has lost value during the downturn this year.

Man Group's shares rose nearly 3% this morning after it reported pre-tax profit of $154m for the six months to 30 September 2011, ahead of the amount it forecast earlier this summer.

Paul Spencer, manager of the Franklin UK Mid Cap fund, has initiated a holding in New Britain Palm Oil - the fund's first ever investment outside the FTSE 250.