News

The FTSE 100 was trading at its highest level since early August this morning, as optimism over the crisis in Europe continued to cheer investors.

Anti-capitalist protesters occupied stock exchanges around the world over the weekend, with sit-ins continuing today as organisers claimed 950 protests have been held in over 80 countries.

Shares in oil giant BP soared to their highest level in more than two months today after the group agreed a $4bn settlement with oil and gas exploration group Anadarko Petroleum over the Gulf of Mexico disaster.

Ernst & Young has downgraded its forecast for UK gross domestic product (GDP) to just 0.9% this year - significantly below the 1.4% it predicted three months ago - as it described the economic situation "worse than we thought".

At least 50 of Europe's top 91 banks are expected to fail the European Banking Authority's (EBA) new stress tests, analysts at Goldman Sachs have warned.

Threadneedle has launched a SICAV version of the $1.5bn US Contrarian Core fund run by sister company Columbia Management.

Richard Pursglove has joined Goldman Sachs Asset Management (GSAM) as head of the UK third party distribution business in a bid to expand sales among discretionary managers and fund of funds.

Top performing UK fund managers including Ed Legget at Standard Life Investments and PSigma's Bill Mott have been buying up mining stocks in recent weeks following a major market sell-off.

Paul Read and Paul Causer's £130m City Merchants High Yield trust is considering moving offshore for tax reasons, despite imminent rule changes designed to improve the competitiveness of the UK as a domicile.

UK firms will see their dividend payouts hit £67bn this year, an 18% rise on 2010, according to the latest Dividend Monitor from Capita Registrars.