Europe

Invesco Perpetual's Paul Causer is predicting risk assets will rally until at least the fourth quarter following the "marked turnaround" in sentiment in European markets early last week.

Russia plans to raise up to $30bn through asset sales over the next three years in the biggest privatisation programme since the frenzied disposals under former leader Boris Yeltzin.

The Witan investment trust has handed a £120m pan-European mandate to Marathon Asset Management.

Edward Novis has joined JO Hambro Investment Management (Johim) as co-manager on the Waverton European fund.

ON EUROPE

Australian bank Macquarie expects some European banks to fail Friday's stress tests.

GERMANY TO EXIT EURO

Moody's has downgraded Ireland's sovereign government bond rating to Aa2 from Aa1.

Markets are at a transitional stage but whether they move in an upward or downward direction over the next six months is still unclear, according to LV= European manager Richard Falle.

HSBC has launched its GIF European Alpha Equity fund with its largest short exposure to the materials sector, including miners, which the manager thinks are overvalued.