Markets

RBS will not pay out bonuses in line with its rival banks, after the UK government said it would not support a payout ratio of two times executive salaries.

The FTSE 100 has risen 0.7% in early trading to touch its highest level in six weeks, driven by gains for pharmaceutical giant AstraZeneca and the mining sector.

Better-than-expected first quarter results from Apple and Facebook have pushed both stocks higher in after-hours US trading to help calm concerns over technology stocks' performance.

Former Prudential chief executive Nick Prettejohn has joined Lloyds Banking Group as a non-executive director and chairman of Scottish Widows.

Vince Cable has attacked the salaries paid to the executives at the top of FTSE 100 companies and warned the government may intervene if boards do not rein in 'excessive' payouts.

Invesco Perpetual's Mark Barnett says uncertainty about the strength of economic growth in emerging markets, especially China, is still proving a headwind to global growth and influencing his portfolio choices.

THE BIG QUESTION: PART II

CURRENCIES

ON UK GROWTH

While markets across Europe took a break over the long Easter holiday, Asian markets fluctuated between gains and losses, weighed down by expected weak Chinese manufacturing data to be released this week.