UK shares rounded off a dismal week with further heavy losses despite better than expected jobs data in the US, as worries over the Eurozone crisis worsened.

Global markets are continuing to post heavy falls, with all major indices deep into the red, as concerns the eurozone debt crisis and weak US economy could lead to another recession.

Investors are flocking to safe haven UK government bonds as they seek shelter from turbulent global markets.

Jupiter CIO John Chatfeild-Roberts has urged investors to remain calm in the face of global market turmoil, adding he sees it as a buying opportunity, particularly for S&P 500 names.

Social networking group LinkedIn has reported a 120% increase in revenues for Q2, beating analysts' expectations who expected the group to report a net loss.

The Bank of England's Monetary Policy Committee (MPC) has left interest rates on hold at 0.5%.

Skandia has ditched Artemis' Jacob de Tusch-Lec from its £143m UK Best Ideas and £337m Global Best Ideas funds, in order to concentrate on running his Artemis Global Equity Income fund.

Royal Bank of Scotland is planning to axe 2,000 investment bankers' jobs over the next eighteen months, as it completes the integration of ABN Amro.

Taxpayer-backed Lloyds Banking Group has posted a loss of £3.3bn in the first half as it was hit with claims for the mishandling of payment protection insurance (PPI).

Global markets are posting heavy losses as further weak economic data from the US deepens fears the country will fall into recession.