Markets

Asian stocks have been given a lift by a broadly positive set of Chinese data as investors look to end the week on a high note.

PIMCO's Bill Gross has likened the recent sell-off in bonds to the "Battle of the Somme", but said the group is well positioned to fight on in future.

Schroders chief executive Michael Dobson said the group now has the strongest UK equity team in its history - despite the departure of Richard Buxton.

Shares in asset managers Schroders and Henderson have fallen in morning trading while Aviva climbed following a set of half-year results from the groups.

Aegon's net income fell 2% in the first half of this year, as higher underlying earnings were offset by losses on hedges due to rising equity markets and volatility - and an £18m loss on the sale of Positive Soltuions.

The FTSE 100 closed 1.4% down on Wednesday after new Bank of England Governor Mark Carney gave the market forward guidance, but sterling recovered after an initial drop.

Henderson Group has seen a record jump in underlying profit before tax in the first half of 2013 despite a £2bn outflow from its institutional business.

ON UK INCOME

The Bank of England has said it will not raise the base rate of interest before unemployment falls to 7%, and warned investors are still expecting rates to rise sooner than is likely.

The £836m Absolute Insight UK Equity Market Neutral fund is revamping its investment policy to switch from a UK-centric to a global investment focus.