UK equities

Troy Asset Management's Sebastian Lyon has advised investors not to buy equities now, as stock valuations are stretched to 2007 levels.

Standard Chartered, one of the UK's largest banks, has seen its shares plunge almost 25% in morning trading as investors panic-sell in reaction to the news it may lose its US banking licence.

With Greece heading towards default, Spain in the doldrums, and the US starting to slow, it is hard to pluck up the courage to buy shares now, but Fidelity's equities guru Dominic Rossi has highlighted five reasons why things are not all that bad.

Shares in beleaguered retailer HMV fell sharply in early trading after it confirmed its finance director is set to follow former chief executive Simon Fox out of the door.

Rathbones' Julian Chillingworth, manager of the £49m Blue Chip Income & Growth fund, has cut back his defensive positions as he believes they have become overvalued.

AXA Framlington's Nigel Thomas was awarded the outstanding contribution to fund management at Investment Week's Fund Manager of the Year Awards this month after almost 30 years in the industry.

Richard Wilmot, manager of Newton's £1.3bn UK Equity fund, has made a foray into the UK banking sector, snapping up shares in Barclays.

Managers including Newton's Tineke Frikkee were among those hit as Britvic's shares fell as much as 17% yesterday, as the company revealed the recall on its popular Fruit Shoot drinks will cost up to £25m.

SWIP's James Clunie has said he is shorting Unilever in the belief the market is "very complacent" over the stock's resilience.

Lindsell Train co-founder Nick Train has argued investors should not try to make money in equities by playing market cycles.