FTSE 100

Europe's major markets climbed on the first day of trading after Spain was granted a €100bn bailout for its banking sector over the weekend.

London's FTSE 100 slipped into the red in early trading this morning after Fitch Ratings cut Spain's long-term credit rating and predicted a slump through 2013.

Global equity indices surged higher after China cut interest rates for the first time in four years in a bid to support growth and combat economic slowdown.

UK income funds face a new threat from the eurozone crisis if the pound continues to strengthen against the single currency, leading managers have said.

Global equity markets have posted sharp gains as investors shrug off a lack of action from the European Central Bank and look to developments in Spain and monetary policy moves elsewhere.

UK stock markets are rising this morning after the two-day bank holiday, following gains in Asia and the US, and as hopes grow a further round of quantitative easing will be launched.

DIAMOND JUBILEE

Man Group looks set to drop out of the FTSE 100 at the next review in June, to be replaced by engineering group Babcock.

Markets in Europe were selling-off across the board today as Spain's banking crisis deepens.

US stocks saw their first weekly gain since April as Greek election polls revealed support for pro-bailout parties and data showed the American housing market is stabilizing.