UK

Allfunds Bank has poached another Cofunds director, Bradley Lewis, to spearhead its expansion into the UK market.

Henderson retail fixed income head John Pattullo is favouring core companies in core countries across Europe to provide thematic bond investing in a low inflation environment, alongside opportunities in the US.

What a difference a year makes. Last autumn, you may recall, we were all holding our heads in our hands, lamenting the sorry state of the UK economy.

The final estimate of UK second quarter GDP has seen growth left unrevised at 0.7%, with the annual rate of growth being revised downwards.

UK EQUITIES

UK EQUITIES

IT

US hedge funds moved to snap up shares in Lloyds Banking Group overnight as the UK government put its 6% stake up for sale in a move to begin privatising the bank.

Analysts at the Bank of America Merrill Lynch have tipped the FTSE 100 to rise to 7,400 next year, citing the strengthening economy and an accommodating central bank as reasons why stocks can reach such highs.

Shares in taxpayer-backed Lloyds Banking Group soared to a five-year high yesterday amid speculation the government is poised to start selling its stake.