Spain

FSA chairman Adair Turner says Britain's banks are not disturbingly exposed to Irish banks or Irish government bonds.

Jupiter financials specialist Guy de Blonay believes it is only a matter of time before speculators move on troubled European nation Spain.

Investors expect Moody's to cut its Aaa credit rating on Spanish debt by up to two levels after a three-month review it announced in June ends tomorrow.

Portugal has raised €750m (£641m) in a successful Government bond auction, following in the footsteps of other southern European nations.

Invesco Perpetual star managers Paul Causer and Paul Read recently bought into Spanish and Italian bonds after seeing yields escalate during the European sovereign debt crisis.

BONDS

Several of Spain's 18 savings banks have failed tests to see how they would cope with worsened economic conditions, according to reports.

Some parts of the high yield bond market do not have all the default risk priced in, warns Invesco Perpetual's Paul Read.

China bought up to €400m of Spanish 10-year bonds last week as Asian investors returned to the peripheral eurozone markets.

Henderson European equity specialist Richard Pease explains why investors should avoid the noise and focus on the attractive opportunities available on the continent.