FTSE 100

Major indices across Europe have opened lower this morning, reversing gains made yesterday as the IMF cut Chinese growth forecasts.

EQUITIES

UK equity income managers are selling out of defensive stocks which have led the global equity rally year-to-date, warning they are approaching bubble territory.

Japanese shares have clawed back some of their losses after falling more than 7% yesterday in a dramatic trading session.

The FTSE 100's long-running rally has been brought to a dramatic close this morning, with the index shedding 133 points in early trading as fears over an end to the US quantitative easing programme spook investors.

Many UK-listed stocks have got off to a flying start in 2013, with indices approaching all-time highs, but some companies have been given a rough ride by markets, destroying shareholders' capital in the process.

EQUITY

Global banking giant HSBC has warned a further 14,000 jobs are at risk over the next three years.

Japan's benchmark index has broken through the 15,000 barrier for the first time since 2008 as investors continue to cheer policymakers' efforts to weaken the yen.

Hargreaves Lansdown shares closed above the £10 mark for the first time ever yesterday as investors continue to back the platform to excel in a post-RDR environment.