Markets

The gold spot price rose to its highest level this year yesterday as global equity markets started the quarter with strong rises.

Businesses are predicting the UK economy has moved out of recession in the third quarter of 2012, with expectations from leading firms that GDP has grown by 0.5%.

The New York Attorney General has sued J.P. Morgan Chase for allegedly defrauding investors who lost billions of dollars on mortgage-backed securities sold by Bear Stearns.

ON NORTH AMERICA

UK BANKS

SPAIN

Ratings agency Fitch has warned the UK's AAA credit rating is under increasing pressure because of growing government debt, which could hit 100% of GDP this year, and the continuing eurozone crisis.

The FTSE 100 has opened up 0.4% on the final day of Q3 trading as Spain's 2013 budget measures helped ease concerns over the country's economy.

The Spanish government has announced €40bn in spending cuts and budget savings in its latest attempt to turnaround the country's struggling economy.

IS STERLING OVERVALUED?