The Dow Jones posted strong gains in early trading on Thursday as a cooling operation at the tsunami-hit Fukushima Daiichi nuclear plant eased investor fears.

Activist investor Sherborne has increased its stake in F&C to 18% today with the purchase of 145,000 shares in the group, priced at 78.25p per share.

The Japanese yen hit a record postwar high against the US dollar this morning, reaching 79.32, although commentators expect the rally to be temporary.

LM Investment Management has launched a Luxembourg domiciled version of its Australian Income fund.

V-SHAPED RECOVERY FOR JAPAN?

The price of US treasury yields has risen as investors seek the safety of government debt in wake of the Japan crisis.

Warren Buffett has made one of his largest purchases to date after splashing out $9.7bn (£6bn) for chemicals company Lubrizol.

Skandia Investment Group has handed F&C's Peter Lees a £21m mandate for the group's UK Best Ideas fund, replacing Colin McLean of SVM Asset Management.

Global Investment Trusts must continue to adapt by cutting costs or becoming more specialist as the cheaper alternatives market comes to the fore, leading managers have said.

Schroders has hired Rob Hall from Russell Investments to work within the group's multi-asset team.