Europe

European equities reached their nadir in 2011 and the market will improve from here, says Odey's Feras Al-Chalabi.

ON EUROPE

EUROPE

Invesco Perpetual's Stephanie Butcher has moved overweight Spain and added names from Ireland and Portugal to the European Equity Income fund, taking the view stocks are "too cheap" and investors are over-paying for core, defensive names.

The Republic of Ireland has returned to the capital markets for the first since it received an international bailout in 2010.

ON EUROPE

Annual costs have reduced returns of the average equity fund by 27.9% over a ten-year period, a Lipper report has revealed.

Moody's Investors Service has downgraded the credit rating on 28 Spanish banks, including Banco Santander, less than a month after cutting the nation's sovereign rating.

European equities lost ground in afternoon trading ahead of a crucial EU summit, as Spain officially asked its eurozone neighbours for a bailout.

EUROZONE CRISIS