Standard & Poor's has downgraded Japan's sovereign debt rating to AA- from AA as the group expects the country's fiscal deficit to remain high in the next few years.
The Dow Jones broke through the 12,000 level for the first time since June 2008 on Wednesday, following calls for a cut in corporate taxes and a unanimous vote by policymakers to maintain a $600bn bond-buying plan.
Portugal will need a bailout in 2011, but the future of the eurozone will depend on the fate of Spain, Italy and Belgium, says MAM Funds' Martin Gray.
Andrew Bell has reshaped 40% of multi-manager mandates in the £1.16bn Witan investment trust in a move towards a more active management style.