Europe

Bond managers have said the European Central Bank's move to cut rates and start buying asset-backed securities in Europe means it is now unlikely to implement a mainstream QE programme.

Markets across the globe were mixed overnight as investors reacted to a series of stimulus measures introduced in Europe to stave off the downturn.

The European Central Bank has cut its headline interest rate by ten basis points to 0.05%, prompting the euro to slump against the dollar, and said it will begin a long-awaited asset purchase programme in the coming months.

Inflation is Europe has become worryingly low, and the situation is reminiscent of Japan in the 1990s. Rathbones' Mona Shah explores whether the ECB's actions will be enough to prevent a downward spiral.

Threadneedle's Frederic Jeanmaire is to take over management of the group's Pan European Focus fund as lead manager Dan Ison steps back to become deputy.

The feeble French economy is causing pain for Europe's leading industrials, explains Richard Scrope from Oriel Asset Management.

Inflows to European loans have never been stronger, but some investors have been deterred by loose credit standards and terms skewed in the issuer's favour. Lyxor Asset Management UK's Thierry de Vergnes investigates the pros and cons.

Europe's small caps have had a stonking five-year rally, but as prices have come off a little since May, investors need to start separating Norway from the Netherlands, explains Bill Barker from Pictet Asset Management.

EUROPE

BlackRock has scrapped the 1% initial charge for intermediaries investing in Alister Hibbert's European Dynamic fund after assets under management fell to a more manageable level.