UK

Equity markets around the world have struggled to make headway this year, with many major indices giving up gains made early on to leave them standing flat or down for 2012.

Leading fund managers including Richard Buxton at Schroders have been increasing their exposure to major UK banks following the LIBOR scandal which has rocked the sector.

UK inflation has dropped to its lowest level since November 2009 after a shock fall to 2.4%.

The IMF has cut its forecasts for UK GDP growth for both this year and next as it warns of a "ratcheting up" of financial market and sovereign stress in the eurozone periphery.

Latest forecasts suggest the economy will return to growth over the next six months, boosted by falling inflation and a pick-up in consumer spending.

The team behind Majedie's £1.1bn UK Equity fund has bought back into miners, having avoided them for most of the second quarter.

CONTRARIAN

Primary Health Properties (PHP) has become the first UK Real Estate Investment Trust (REIT) to launch a retail bond.

Trade body's recommendations to explain charges more fully are unlikely to be adopted across the board.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.