Europe

According to George Soros, often money is made by betting on the unexpected, as shifts in markets can occur suddenly.

Europe is likely to experience lower growth due to "fiscal austerity". However, as a result of the awkward outlook, European equities look inexpensive.

Peer group sees £8.5m outflow in May as three-year numbers disappoint, but average fund up 20.7% over one year

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