News

Nigel Thomas, manager of the £2.8bn AXA Framlington UK Select Opportunities fund, has said UK equities are cheap, but have little scope to rise in the current environment.

UK markets began the session strongly, with the blue chip index putting on more than 1% initially, ahead of key jobs data from the US.

Fitch Ratings has said current market conditions should make equity managers adapt their stockpicking processes to take into account more top-down views.

Lloyds Banking Group has offered to exchange £4.9bn of its outstanding bonds in order to raise new capital.

Premier Asset Management is set to change the investment objective of several funds, including CIO Mike Jennings' £53m Premier Global Strategic Assets fund.

European Central Bank (ECB) President Mario Dragh has warned risks facing the eurozone will increase unless governments adopt a closer fiscal union.

The US economy is at risk of being drawn into another recession next year because of contagion from Europe and inaction from policymakers, Schroders' Wes Sparks has warned.

Goldman Sachs' global markets team has revealed six key trading recommendations for 2012, based on forecasts of a deeper recession in Europe, a slowdown in the US and below trend growth in China.

BNY Mellon subsidiary Alcentra is set to launch the Alcentra European Floating Rate Income fund early next year.

Energy stocks could see up to 50% upside over the next three years, according to Guinness Asset Management's Tim Guinness, supported by the high price of oil.