Markets

Credit ratings agency Moody's has upgraded its outlook for British banks from negative to stable, saying they are strong enough to withstand another financial crisis.

Asian markets regained ground on Wednesday following falls as weaker than expected Chinese trade data sparked worries the country's growth may slow further in Q2.

The Treasury has taken control of LIBOR away from the British Bankers' Association and handed it to New York Stock Exchange following the rate rigging scandal.

The International Monetary Fund has upgraded its 2013 growth forecast for the UK to 0.9%, just three months after cutting estimates.

Henderson shares have risen by almost 9% after the group said it expected underlying H1 profit to come in at around £100m, ahead of market expectations.

ON UK GROWTH

The US market has risen in early trading as investors' positive mood continues following the US jobs report released late last week.

ON UK INCOME

The FTSE 100 is in the black this morning, buoyed by shares including Royal Bank of Scotland which helped the index shrug-off weak Asian markets overnight.

Chinese shares have started the week sharply in the red, with markets off substantially amid ongoing fears about the impact of the US cutting back its stimulus programme.