Stocks in the US and Asia rallied overnight after Italy turned to China for help with its debt crisis.

J.P. Morgan's Private Equity limited has completed the purchase of a range of assets held by the former Arch cru funds.

The Investment Management Association (IMA) has opened up its sectors to non-UK firms in a move which will give them full membership of the trade body and bring their funds into the mainstream sectors.

Banks led markets sharply lower in early trading but their shares have now stabilised as markets digest the long-awaited Independent Commission on Banking report.

Chancellor George Osborne has said there are no barriers to the UK launching more quantitative easing amid growing fears over the health of the UK economy, the Financial Times reports.

Platform giant Cofunds has asked fund groups to commit to developing commission-free share classes by November as it moves to align itself with RDR.

The FTSE 100 was up sharply mid-morning after a strong session in Asia saw markets claw back much of the losses seen in recent days.

US markets opened sharply lower on Tuesday, having missed the sell-off at the start of the week, before services data helped improve sentiment.

M&G's bond expert Matthew Russell on the returns Mervyn King and co have generated since the start of QE.

The FTSE 100 is extending early losses after data from the vital UK services sector showed the largest decline in activity in a decade.