Eurozone

The International Monetary Fund is set to revise down its global growth forecast as economic conditions deteriorate.

Katherine Garrett-Cox, CEO and CIO of the £2.5bn Alliance Trust, has argued global growth will remain stagnant next year, as the US faces the strong prospect of slipping back into recession.

John Kennedy has deleveraged his £588m Scottish investment trust, converting its entire gearing component into cash equivalents to shield the portfolio against a further market set-back.

Investors piled into risk assets today as the results of last night's summit talks in Europe gave investors hope that an end to the crisis is in sight.

Fidelity‘s Allan Liu has said performance on the £2bn South East Asia fund has been hit by exposure to mid-cap stocks.

Yields on 10-year Spanish government bonds are close to unaffordable, Spanish Prime Minister Mariano Rajoy has told his parliament ahead of this week's all-important EU summit.

German chancellor Angela Merkel has again ruled out the creation of jointly-issued eurozone debt ahead of a crucial summit in Brussels this week.

Bank of England governor Mervyn King said he voted for more QE at the last meeting of the MPC because he is fearful over the outlook for Asia, emerging markets, and the US, as well as the ongoing eurozone crisis.

Cyprus has told European authorities it intends to apply for a bailout, making the country the fifth eurozone country to request international aid.

European equities lost ground in afternoon trading ahead of a crucial EU summit, as Spain officially asked its eurozone neighbours for a bailout.