Europe

Greece sent markets tumbling overnight and this morning after announcing plans to hold a referendum on the European debt deal designed to save the country.

Schroders is set to soft-close its European Alpha Plus fund, managed by Leon Howard-Spink.

Markets opened lower today as investors paused for breath following last week's Europe-led rally.

This week veteran fund manager Jim Rogers warned the 50% greek haircut will not save Europe and Jupiter's Philip Gibbs sold down his gold exposure.

The Chancellor George Osborne has pledged to stop cash from British taxpayers being used to fund the eurozone bailout.

The VIX, or volatility index, sunk 15% to its lowest level in three months yesterday as European leaders announced plans to alleviate the debt crisis.

EUROZONE DEBT DEAL

Multi-asset veteran David Jane is running a bias towards gold and index-linked bonds following the resolution to the eurozone debt crisis, warning the move by EU leaders will stoke inflation.

European countries have agreed a deal to resolve the region's debt crisis which will include Greek bond holders taking a 50% haircut and see the eurozone bailout fund increased in size.

Eurozone optimism has buoyed markets this afternoon with almost all major indices in positive territory.