Equities

DOES EUROZONE CONTAGION MATTER?

European Union leaders have agreed to set up a permanent mechanism to bail out any member state whose debt problems threaten the 16-nation eurozone, the BBC reports.

Ignis' chief economist Stuart Thomson believes more quantitative easing in the US and UK is inevitable in 2011.

ON EUROPE

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ON THE US

UBS Multi-Asset Income fund manager David Buckle has cut back portfolio weightings to equities and property and moved into corporate bonds and high yield.

Ireland's economy saw a return to growth in Q3, with GDP up 0.5% on the previous quarter.

Skandia Investment Group's chief executive Nils Bolmstrand is stepping down from his role a year after taking the reins from Jamie MacLeod.

Beleaguered BP saw its shares drop 3% to 461p today as the US government revealed it is suing the oil giant for gross negligence over the Gulf of Mexico oil spill, and is seeking $21bn or more in damages.