The FTSE 100 is edging towards 5,800 early on amid a wave of optimism Greece will pass its five-year austerity plan.

Old Mutual Asset Manager's Stewart Cowley and Fidelity's Trevor Greetham have clashed over the success of the measures being undertaken to aid the recoveries in the UK and US.

Skandia Investment Group (SIG) has swelled assets in its Strategic Bond fund after merging the Global Fixed Interest Blend and UK Fixed Interest Blend funds into the portfolio.

Aviva Investors has merged three manager of manager funds into its multi-asset portfolios.

Dexion to change Equity Alternative but Winterthur analyst warns it is too little too late.

M&G's Richard Woolnough will see his Corporate Bond fund swell to nearly £5bn as part of a series of mergers being carried out by the group.

Skandia Investment Group (SIG) has handed mandates to Jupiter's Cédric de Fonclare and Mandarine Gestion's Marc Renaud in a shake-up of its €590m European Best Ideas fund.

Schroders has expanded its fixed income team after poaching Bob Jolly from UBS.

The euro slumped today as eurozone finance ministers postponed Greece's €12bn bailout package until the country implements tougher austerity measures to curb its soaring deficit.

Lacklustre performance lands both Tom Walker's funds in Chelsea Financial Services' infamous Relegation Zone.