European stock markets have mirrored losses overnight in Asia and on Wall Street, despite the EU announcing it will hand Spanish banks €30bn of aid later this month.

J.P. Morgan Asset Management (JPAM) has launched an emerging market income fund for Richard Titherington.

Spanish 10-year bond yields have shot above the 'unsustainable' 7% mark, ahead of a crunch meeting between European finance ministers this afternoon.

A number of fund providers are supporting the split of the Absolute Return sector into sub-categories based on strategy, which could see many vehicles in the Unclassified and Specialist sectors moved into the new groupings.

The Dow Jones Industrial Average shed over 100 points shortly after the opening bell as US non-farm payroll data came in below analysts' expectations.

Old Mutual Asset Managers' European equity manager Kevin Lilley is adding exposure to riskier sectors on the continent, increasing his overweight to banks in the view too much bad news is priced in to the market.

Alliance Trust Investments has closed down three funds and announced a number of redundancies as chief executive Katherine Garrett-Cox overhauls the business.

The Bank of England (BoE) has extended its quantitative easing programme by £50bn, in a bid to haul the UK economy out of recession.

F&C Investments has scrapped plans to launch a US investment trust after it failed to reach its £100m fundraising target.

A number of corporate bond funds are taking on too much risk by running hefty positions to bank bonds, Fund Expert's Brian Dennehy has said.