Europe

EU politicians' long-awaited agreement on eurozone crisis lifts markets worldwide but investors move to cash in view equity rally may not be sustainable

The loss of France's AAA-rating would be a worse scenario for the global economy than the downgrade of the US, said Ignis chief economist Stuart Thomson.

Syed Kamall, member of the European Parliament for London, said he is "not impressed" with the European Commission's assessment of the impact of EU regulation on the UK.

The global banking system has been shaken by talk of possible defaults and contagion but managers are divided about whether this has opened up opportunities in the sector.

Stephen Snowden has upped risk on the Kames Investment Grade Bond fund by "aggressively" increasing exposure to banks and topping up high yield on the view the bottom of the market has already been reached.

EUROZONE DEBT DEAL

US markets opened lower today as investors remained cautious on tomorrow's European summit aimed at solving the sovereign debt crisis.

Leading banks are at odds with European policymakers after lenders offered to take a haircut of 40% on their Greek bonds, but leaders said the proposals do not go far enough.

ON EUROPE

EUROZONE CRISIS