Markets

The UK's trade deficit more than doubled in August as imports of goods outstripped a small uptick in services exports.

Key Asian markets showed resilience from global growth fears as the main Hong Kong and Chinese stock markets rallied strongly overnight, though Japanese stocks bucked the trend.

The International Monetary Fund (IMF) has cut its forecast for the UK economy, now warning it faces a hefty contraction this year, as part of a downgrade of most nations globally.

US

London's leading index lost ground in morning trading as investors braced for a round of woeful reports from the third quarter earnings season.

The IMF is expected to cut its forecast for UK growth in 2012 by 0.3 percentage points this week, from 0.2% to -0.1%, as part of a series of downgrades.

The US unemployment rate has fallen below 8% for the first time since January 2009, raising hopes over the strength of the US recovery and giving global equities a boost.

India's National Stock Exchange has said 59 "erroneous orders" were responsible for a plunge in Indian equities that saw the S&P ‘Nifty' index shed 15% earlier today.

RBS has suspended a trader for trying to rig the Singapore dollar swap offer rate, according to reports, in the latest case of interest rate benchmark manipulation.

Spain's economy minister Luis de Guindos denied his country needs a bailout as he gaave a speech to the London School of Economics.