Legg Mason's US equity veteran Bill Miller said US large caps have become "an empty stadium" as investors flock to the "overvalued" commodities sector.
Equity markets in South East Asia are trading at a one-year high, despite rising commodity prices and oil hitting $120 a barrel, said SooHai Lim at Barings.
BP has extended the deadline for completing a share swap deal with Russian oil giant Rosneft until 16 May, as reports suggest talks with AAR about the British oil firm buying out its Russian partner in joint venture TNK-BP have "more or less collapsed"....
The oil price fell by as much as $3.25 a barrel on Tuesday after the world's biggest commodity trader called the top of the market for crude and a range of other commodities.
Tim Guinness, renowned energy investor and manager of the $416m Guinness Global Energy fund, has tipped oil to fall below $100 per barrel within the next six to 12 months.
Standard Life Investments' Ed Legget has moved overweight miners to take advantage of falling share prices across the sector, but has cut oil major BP from his portfolio.
Distinction Asset Management's Ana Armstrong has bought one-year Greek bonds yielding 14.7%, after Moody's downgraded the country's debt last month.