FTSE 100

The FTSE has tumbled as much as 2% as US ten-year yields touch two-year highs in expectation of an imminent slowdown of the Federal Reserve's quantitative easing programme.

Financial services group Resolution helped push the FTSE 100 index higher this morning after better-than-expected half-yearly results.

Japan's Nikkei has soared while the yen has tumbled against the dollar, amid speculation the government is considering a corporate tax cut.

UK EQUITIES

Shares in asset managers Schroders and Henderson have fallen in morning trading while Aviva climbed following a set of half-year results from the groups.

The FTSE 100 closed 1.4% down on Wednesday after new Bank of England Governor Mark Carney gave the market forward guidance, but sterling recovered after an initial drop.

Investment bank Goldman Sachs has made a bullish prediction London's leading share index will break through its all-time high over the next 12 months.

Shares in the Royal Bank of Scotland dropped as much as 6% after the bank reported its half year results and announced its new CEO.

Shares in Lloyds Banking Group and Jupiter Fund Management soared on Thursday after both groups reported hefty profits in their half-year results.

Wealth managers and asset managers have led the pack in early morning trading after a number of companies delivered positive updates to the market.