Markets

M&G's Mike Riddell has warned the European Central Bank's latest grand plan to buy government bonds will not prevent a wave of selling if countries' economies continue to deteriorate.

PIMCO's Bill Gross has said the Federal Reserve and other central banks are to blame for "the current shipwreck" that is the global economy.

ECB president Mario Draghi has outlined details of a plan to buy unlimited amounts of eurozone nations' short-dated debt in an effort to stem the eurozone crisis.

Kames Capital's Phil Milburn has predicted the European Central Bank will once again fall short of producing a "panacea" for the eurozone debt crisis later today but said the steps expected to be taken are more positive.

The Bank of England's Monetary Policy Committee (MPC) has voted to hold the base rate of interest at 0.5%.

The euro held on to gains made earlier this week overnight ahead of a crucial day for the eurozone, with the ECB poised to act to curb soaring borrowing costs for periphery nations.

Fidelity's Sanjeev Shah has revealed a series of short positions in miners, coupled with a spate of M&A activity and a play on the banks, have lifted his fund into the top quartile in the last year.

Greece's European lenders have demanded the government in Athens enforces a six-day working week in order to meet the terms of the country's second bailout.

UK shares were once again lower this morning, extending yesterday's sharp losses as falls in Asia overnight impacted confidence.

Hargreaves Lansdown co-founder Stephen Lansdown is to step down from the board in November the group said today, after revealing profits had jumped 21% in the last year driven by revenues from its Vantage platform.