Equities

Neil Woodford's new fund is a focal point of investor interest at the moment, but those looking to diversify their UK equity income exposure have a number of alternatives.

Sebastian Lyon, manager of the Troy Trojan fund, has warned investors are becoming more complacent than they have been at any point since the financial crisis erupted, leaving them vulnerable to a shock event.

The MSCI Asia-Pacific has hit its highest level in 12 months after a US session which saw small caps move off recent lows.

Shares in pharma giant AstraZeneca plunged this morning after the group rejected a fresh offer from US firm Pfizer.

Neil Woodford's new income fund will aim to deliver high single digit returns annually, despite a 'challenging' economic backdrop he predicts will weigh on markets.

CHINA

US giant Pfizer has made an improved offer to buy AstraZeneca, the UK's second largest pharmaceuticals company, raising its bid to £50 a share.

M&G's Tom Dobell has been upping his stake in the firm he described as formerly the "worst-run company" in the FTSE 100 in anticipation of a change of fortunes for the business.

Schroders has appointed Alex Tedder from American Century Investments as head of global equities.

Standard Life Investments' head of global equities David Cumming has said the group has finally lost patience with banks over bonuses, prompting last week's shock decision to publicly oppose Barclays' remuneration plans.