IMF

PRESSURE POINT

The bull run in UK mid caps could be coming to an end, with multi-managers starting to sell down top-performing funds in the sector and growth fears threatening consumer facing names.

The International Monetary Fund (IMF) has cut its forecast for the UK economy, now warning it faces a hefty contraction this year, as part of a downgrade of most nations globally.

UK asset managers are readying their contingency plans to cope with a possible ‘Grexit' as the beleaguered economy returns to the spotlight, despite ECB president Mario Draghi providing a boost for European markets last week.

Greece's European lenders have demanded the government in Athens enforces a six-day working week in order to meet the terms of the country's second bailout.

GLOBAL

ITALY

Greece is seeking a two-year extension to its austerity programme from the European Union and IMF as it struggles to find room for another €11.5bn of spending cuts.

Italian Prime Minister Mario Monti has described a psychological rift deeply ingrained within the eurozone that could potentially rip Europe apart.

GOLD