FTSE 100

Tesco is coming under increasing pressure to slash its dividend in order to free-up cash to help it compete against low-cost rivals, with a leading shareholder speaking out over the weekend and analysts predicting a major cut to its payout.

Stock markets recovered from last week's bout of anxiety this morning as geopolitical concerns eased, with safe haven bond yields climbing and shares rallying.

UK and European equity markets have pulled back again this morning after two mega M&A deals fell through and geopolitical tensions increased.

Equity Income fund managers are yet to warm to the tobacco sector, despite a strong 2014 for stocks driven by M&A and their defensive qualities.

HSBC, the largest listed bank in the UK, has reported a sharp drop of 12% in its first half profits for 2014, as declines in emerging markets impacted the group.

The Royal Bank of Scotland said today its costs would be "significantly" impacted if an upcoming vote on Scottish independence sees the region break away from the rest of the UK.

Barclays said today its underlying profits for the first half of the year had fallen 7% after a drop in investment bank revenue, while it also reported another huge bill to compensate PPI customers.

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