The pound has fallen to a fresh low below €1.20 for the first time in over nine months.

Solid inflows into its mutual fund business and segregated mandates, as well as positive market movements, helped Jupiter grow its assets under management to over £26bn in Q4.

Managers around the globe have upped their exposure to equities in what Bank of America Merrill Lynch analysts dubbed the 'great rotation' of 2013.

Schroder's mid-cap manager Andy Brough has been given a boost from his stake in fellow asset manager Liontrust after its shares soared 10% in early trading today.

Shares in Apple fell to an 11-month low overnight after disappointing sales of its latest iPhone.

2012 was a particularly tough year for some sectors, notably commodities and gold, as fears over global growth weighed on demand for materials.

The FTSE 100 closed at its highest level since May 2008 yesterday as investors continued to snap up cyclical names, including the UK's semi state-owned banks.

2012 was a mixed year for markets, with developed market equities recovering from a summer sell-off to make marginal gains, while some segments of the property and bond markets outperformed.

Two former employees of HBOS have been arrested along with a string of other suspects following an investigation into loans offered by the bank prior to its collapse.

BLUE CHIPS