Europe

GLG Esprit Continental Europe manager implements process based on broker recommendations to produce top-decile numbers.

The Greek parliament has narrowly voted to approve a drastic austerity package despite facing widespread opposition.

Jupiter's European Income fund manager Malcolm Millar is leaving the firm, handing his fund to Cedric de Fonclare.

Skandia Investment Group (SIG) has handed mandates to Jupiter's Cédric de Fonclare and Mandarine Gestion's Marc Renaud in a shake-up of its €590m European Best Ideas fund.

Fears of a Greek default continued to impact markets despite a deal between the European Union and the IMF being struck yesterday.

ON EUROPE

Greece's credit rating has been cut to the lowest level of any nation after Standard & Poor's warned that the danger of a default by the country has risen significantly.

Tension between the European Central Bank and the German government has intensified as Jean-Claude Trichet hit back at the German finance minister's claims Greek government bondholders should contribute to a new aid programme.

The International Monetary Fund (IMF) has warned UK inflation will remain above 4% for most of this year because of external factors.

ON EUROPE