FTSE 100

Markets across the continent were lower in morning trading as investors reacted to heavy selling in emerging markets.

Hargreaves Lansdown is in talks with a number of fund groups to secure exclusive deals to sell their passive products at discounted prices.

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.