Economics

Bob Jolly, head of global macro at Schroders, has said Germany "loves" being part of the euro and suggested neither Greece nor Italy would exit the single currency for fear of the consequences.

Italy sold €3bn of five-year bonds, the maximum target, at the highest yield in more than 14 years as Mario Monti seeks to form a new government.

GLG has launched a Strategic Bond fund for Christophe Akel, who also runs the group's Global Corporate Bond fund.

European markets were slightly positive in early trading as new Prime Minister Mario Monti prepares to form a new government to lead the stricken country out of its debt crisis.

The Bank of England has been forced to cut growth forecasts for the UK to 1% amid fears of a double-dip recession brought on by the eurozone crisis.

US and European markets rallied late Friday as Italian policymakers approved new austerity measures, a move which should help pave the way for a new government.

Gilt yields fell to a new record low yesterday as investors sought out safe havens from the eurozone crisis.

Scottish Widows Investment Partnership's (SWIP) £1.1bn Sterling Credit Advantage fund, managed by Roger Webb, has been moved into the Specialist sector with immediate effect.

German insurer Allianz has seen profits fall 80% in the third quarter as the impact of investments in European banks, and Greece, impacted returns.

Ratings agency Standard & Poor's (S&P) was last night at the centre of a storm after it accidentally downgraded France's AAA rating.