US and European equity markets have moved higher this afternoon despite the latest employment figures raising questions over the strength of the US recovery.
Preliminary figures released today show the US economy grew at an annual rate of 3.2% in the last quarter of 2013, in line with analysts' expectations.
BNY Mellon Fund Managers is changing the name and investment remit of the BNY Mellon American fund, managed by its US subsidiary the Boston Company Asset Management.
Investors' misplaced belief that US stocks are overvalued has made it the "most unloved bull market" in 40 years, veteran US fund manager Ed Cowart has said.
The sharp drop in the UK unemployment rate and mounting expectations of a 2014 rate hike pushed sterling to a two-year high versus the US dollar in morning trading.