UK

Wealth management firm St James's Place is reviewing two mandates managed by Neil Woodford after his shock departure announcement yesterday.

News that the UK's best known fund manager Neil Woodford is leaving Invesco Perpetual after 25 years has caused leading fund brokers to suspend their ratings of his portfolios.

UK consumer prices index (CPI) inflation remained stable in September at 2.7%.

Hargreaves Lansdown reported a record £3bn increase in assets under administration in the three months to the end of September, but warned of headwinds to its revenues in the short-term.

Shares in Royal Mail jumped 2.5% to 487p as it officially floated today, following a flurry of trading activity in the stock prior to its listing.

The Chancellor, George Osborne, has announced he will give his annual Autumn Statement to parliament on 4 December 2013.

Philip Collins has joined Sarasin & Partners to run multi-asset portfolios for the group.

M&G's Tom Dobell has warned against what he sees as the "tiresome" rise in short-term trading, suggesting investors need to move away from "grazing" and hold stocks for longer.

Former Brewin Dolphin investment manager Harry Burnham has joined Ashcourt Rowan as head of its asset management arm.

David North, Legal & General Investment Management's former head of asset allocation and high yield, is set to return to the fund management industry.