Economics

Invesco's John Greenwood has warned further QE in the UK is unlikely to lead to a rebound in economic growth as he said there was "no quick fix" to the country's economic woes.

The Bank of England has increased its quantitative easing programme by a more than expected £75bn in a bid to kick-start the UK's ailing economy, while leaving interest rates on hold at 0.5%.

The FTSE has opened 0.8% higher, building on yesterday's 3.2% rise, as markets hope policymakers are moving to combat the eurozone crisis.

Prime minister David Cameron has appealed for Britain to emulate the optimism seen in emerging economies such as China and India instead of being overwhelmed by the onslaught of negative data.

The FTSE 100 made up some of the ground lost in recent days, gaining over 100 points in early trading, amid talk in Europe of plans to recapitalise the banking system.

US Federal Reserve chairman Ben Bernanke has told Congress the US economy is "close to faltering" and more action may be needed.

Liontrust Asset Management said today it had completed the takeover of Occam but for a much lower price following a fall in assets under management.

SVM's Margaret Lawson, co-manager of the £42m SVM UK Growth fund, selects three stocks for growth in a weak economic environment, and two special cases worth backing.

Ratings agency Moody's has slashed Italy's credit rating, piling more pressure on the beleaguered eurozone.

The FTSE 100 has fallen as much as 3.5% as fresh eurozone concerns pushed the index down to the 4,900 mark.