The FTSE 100 has dropped back below the 5,000 mark as miners suffer from profit taking on fears the rally in metal prices may have gone too far.

Harewood Solutions, a part of BNP Paribas, is launching a new UK Enhanced Income fund.

OBSR has awarded Trevor Greetham's Fidelity Multi-Asset Strategic fund an A rating.

Baring Asset Management has appointed Kommera Chakradhar Reddy as head of India equities, with a view to launching further funds in the region.

The IMA is to close the UK Zeros sector on 30 September and move the five funds into the Specialist category.

Henderson New Star has received FSA and unitholder approval for the merger of a number of funds in the New Star UK equity range.

Bonds continue to dominate UK net retail sales although equity funds are starting to gain ground, according to IMA sales figures for July.

The ABI will create a new investment sector called Deposit & Treasury, which will carry stricter limits than the existing money market category.

Thames River has appointed ex-Fidelity manager Trygve Tøraasen to its European equities team.

The Dow Jones is higher this morning on improving house price data and a rebound in consumer confidence.