Economics

Charles Stanley is in exclusive talks to sell its securities business to stockbroker Panmure Gordon, putting an end to rumours US firm Stifel Financial was the likeliest buyer.

M&G has reported a rise in UK retail outflows for the first quarter, and acknowledged the outlook for future flows remains "uncertain".

The FTSE 100 has risen almost 1% this morning to retake the 7,000 level, as all sectors except materials enjoy gains.

Hargreaves Lansdown entered the top five groups by net retail sales in the first quarter following a spate of multi-manager launches, according to the latest Pridham report.

Aberdeen has reported a worse than expected £11.3bn outflow for the six-month period to the end of March despite a rise in revenues over the period.

Lloyds Banking Group has boosted the FTSE 100 this morning but politically-sensitive sectors have begun to feel the bite of election season.

The Federal Reserve has dampened suggestions of a mid-2015 interest rate hike after weak GDP figures suggested the US recovery has lost momentum.

US economic growth saw a sharp slowdown in the first quarter of the year as a strong dollar hit exports, and bad weather hampered consumer spending.

Sterling and gilt yields have dropped after an initial UK GDP estimate showed growth slowed more than expected in Q1.

Assets under management at wealth manager St. James's Place (SJP) have passed the £55bn mark as pensions and ISA flows offset a drop in other investment business.