FTSE 100

SPECIAL REPORT

Brewin Dolphin's John Newlands explains why investors should stick with veteran managers even when new and exciting opportunities enter the market.

US stocks ended the day firmly lower on Thursday, after the ISM services sector purchasing managers´ index for the month of April disappointed.

The FTSE 100 was in positive territory in early trading as investors across Europe pushed indices higher in reaction to Spain's successful bond auction.

BP was one of the biggest losers in early trading as investors sold shares in the oil major following a disappointing update.

London's blue chip index was in negative territory this afternoon, snapping a four-day winning streak as eurozone concerns once again came under the spotlight.

Shares in Aberdeen Asset Management led the FTSE 100 leaders board this morning after the group saw profits climb 14%.

CONTRARIAN

Developed market shares were fleeting between positive and negative territory this afternoon as US jobs data disappointed and investor confidence in the eurozone weakened.

BlackRock's Richard Plackett, manager of the £1.5bn UK Special Situations fund, has been rotating out of large-cap defensive stocks and adding to small and mid caps, reflecting his more optimistic outlook on the world economy.