Markets

UK CPI inflation fell for a sixth consecutive month in March to hit a fresh four-year low, according to latest figures from the Office for National Statistics.

Another day of losses yesterday has left the UK's main mid-cap index down almost 7% since the start of March - underperforming both large and small caps as warnings on valuations made at the start of the year ring true.

ON UK

The FTSE 100 was down nearly 1% this morning, while gold was in the ascendency, as investors sold down BP amid the latest developments in Ukraine.

Brooks Macdonald's asset management business has acquired Jersey-based DPZ in a deal that will add a further £360m to its discretionary AUM.

ON ASIA PACIFIC

M&G's Stuart Rhodes is running a record low number of stocks in his £8.5bn Global Dividend fund, having sold many US holdings on valuation concerns, as he begins to look to new regions for yield plays.

The FTSE 100 was down over 1% by 11am, with Hargreaves Lansdown leading the market lower after being downgraded by Morgan Stanley.

The Investment Management Association is to merge with the Association of British Insurers' investment affairs unit in a bid to give fund managers a single, stronger representative voice.

The Nasdaq index suffered its worst day since 2011 yesterday, dropping over 3% as investors continued to switch out of technology and biotechnology holdings.