Markets across Europe sold off in early trading, while bond yields in core European countries rocketed towards danger levels, after investors failed to be convinced by an overnight deal to save the eurozone.

The Bank of England's Monetary Policy Committee has once again kept interest rates on hold at a record low and left QE unchanged at £275bn.

Threadneedle's head of global equities Jeremy Podger has left the company to join Fidelity and run its £1.5bn Global Special Situations fund.

Banking and asset management giant Investec has exited the FTSE 100 as part of the latest re-shuffle of the UK's leading share index.

Brazil's economic growth slowed in the third quarter of 2011 as the impact of the crisis in Europe and the slowdown in global growth impacted the region.

Barclays has offered to buy back £2.5bn worth of debt to boost its capital levels.

As the eurozone crisis reaches a crescendo, the Bank of England has revealed just how much exposure UK banks have to the region's most troubled economies.

AN OPEN LETTER TO MERKEL

UK markets began the session strongly, with the blue chip index putting on more than 1% initially, ahead of key jobs data from the US.

The US economy is at risk of being drawn into another recession next year because of contagion from Europe and inaction from policymakers, Schroders' Wes Sparks has warned.