Markets

Credit rating agency Moody's Investor Services has downgraded its rating of the European Stability Mechanism (ESM) - Europe's bailout fund - because of increased concerns over the financial health of France.

AUTUMN STATEMENT

Bob Jolly (pictured), head of global macro at Schroders, reviews a year in global bond markets and asks what themes could characterise the asset class in 2013.

The Financial Services Compensation Scheme (FSCS) is to hit fund managers with a £33m levy to cover a shortfall in its finances after it overcharged some firms.

Royal London Asset Management's Derek Mitchell (pictured) looks at what is driving global stocks, and asks if macro events are combining to create 'the perfect storm' in markets.

JOHCM's top performing income manager Clive Beagles outlines his favourite themes within UK domestic stocks, including 'self-help' stories such as ITV, as the economic recovery gathers pace.

The FSA is set to probe the asset management industry in a review of the risks of bribery, corruption, sanctions and money laundering, according to law firm Dechert LLP.

Santander multi-managers Tom Caddick (pictured) and Toby Vaughan have invested in a UK equity income fund using their UK equity weighting for the first time.

The UK's four biggest banks may need up to £35bn of fresh capital to insulate themselves against future losses, according to the Bank of England.

The US economy grew 2.7% in the third quarter of the year, a significant upwards revision from the first reading of the data.