Aviva Investors has appointed Paul Abberley as interim chief executive following the departure of Alain Dromer.

The euro has fallen below the $1.30 barrier against the dollar, as Sunday's European election hangover continues to unsettle investors.

Scottish Widows Investment Partnership (SWIP) has expanded its global strategy team with the appointment of Kenneth Anderson as investment director.

Fund managers were already warning against buying into cyclical stocks including miners and financials ahead of this week's sell-off, urging investors to hold off until there is a clearer entry point.

France's AAA credit rating is safe, according to ratings agency Fitch, which has reassured market the election of Socialist President Francois Hollande has no implications for the country's credit rating.

French and Greek election results have spooked investors, as strong opposition to austerity reignites fears over the future of the single currency.

Pimco's Bill Gross, manager of the world's largest mutual fund, has called for the US authorities to intervene in currency markets to bolster the US economic recovery.

A paper being reviewed by the House of Lords has launched an attack on the Investment Management Association, saying it is ill-equipped to decide on sector classifications, and the job should fall to a more impartial body.

LinkedIn shares rocketed nearly 10% overnight after the business-focused social networking site posted bumper quarterly profits yesterday.

Leading UK think-tank NIESR has warned rising unemployment, which could hit 9% by the end of the year, will do permanent damage to the UK's productive capacity.