Germany

Germany has refused to give any ground on Europe's rescue machinery despite the escalating political and economic crisis across much of the eurozone periphery, guaranteeing a bitter clash with EU partners at a crucial summit in Brussels today.

The FTSE 100 rose 1% to 5,871.5 points by 1.45pm today, propelled by the mining sector.

ON BONDS

Ireland was last night poised to nationalise its two biggest banks as the country continues to be battered by the financial crisis.

The recovery in both France and Germany, Europe's largest economies, slowed considerably in the third quarter.

TIP OF THE WEEK

ON ASSET ALLOCATION

Long the Western bond markets…for the time being

ON UK INCOME

ON EUROPE