Equities

There were signs of tentative progress on the US fiscal deadlock yesterday as President Obama indicated he would accept a short-term increase in the nation's borrowing authority to avert a default.

Tim Steer, manager of the Artemis UK Growth fund, is backing London-focused stocks to outperform in the coming months as he focuses his portfolio on UK-centric names.

Fixed income boutique MacKay Shields has hired Matthew Nagele, previously at Janus Capital Group, as head of distribution for UK and EMEA.

ON JAPAN

Ratings agency Moody's has said it expects US politicians to reach an agreement on the country's debt ceiling, with a default "extremely unlikely".

UK shares had a shaky start to the week as negotiations over the US debt ceiling continue to drag on.

EUROPEAN INCOME

US

Franklin Templeton's Mike Clements has more than halved the size of the Franklin European Opportunities fund as he takes over management of the portfolio.

Hedge fund manager John Paulson is backing a turnaround in the Greek economy by taking positions in some of the country's largest banks.