Kames Capital's David Griffiths and David Pringle have removed their short position in UK food retail on the UK Equity Absolute Return fund, as the prospects for supermarkets like Tesco look more positive.

Graham Ashby has taken over a UK Enhanced Income fund at Ignis, targeting a yield of up to 9%.

Shares in Google closed down 8% after the tech giant's third quarter results - revealing a 20% drop in profits - were mistakenly released ahead of the US market close.

Funds under management at Man Group grew by 14% in the third quarter, supported by the acquisition of FRM, although the firm saw increased net outflows of $2.2bn for the period.

Jupiter Fund Management reported a £1.6bn increase in assets under management for the third quarter, supported by flows into more cautious funds such as Merlin Income, Strategic Bond and Global Convertibles.

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L&G Investments is set to merge four funds it formerly managed for Barclays Wealth and Investment Management into existing in-house portfolios.

Mark Pignatelli, manager of the Smith & Williamson European Growth trust, has predicted European bank shares will rise 70% over the next two and a half years as the European economic cycle reaches its trough.

The largest company listed on the Athens stock exchange is seeking to re-list in the UK, potentially placing it in the FTSE 100, as the company attempts to flee the Greek economic crisis.

Lord Adair Turner has said one of the major flaws in the regulatory structure which failed to avert the financial crisis in the UK was the FSA was "asked to do too much".