FTSE 100

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.

EUROPE

AFRICA AND OIL

FUND GROUPS

Investment trust analysts have slapped buy ratings on a number of smaller companies trusts, as recent selling opens up significant discounts in the sector.

Henderson UK Absolute Return fund

Global shares and US treasury yields fell on Thursday and Friday while gold soared as investors sought safety following a passenger jet crash in Ukraine.