News

UK gilts extended declines as the Bank of England refused to buy bonds maturing in 2017 in Monday's auction, after traders aggressively drove up prices.

The Treasury is concerned the EU directive MiFID II will distort the UK advice market by restricting the commission ban to independent advisers.

Paul Shuttleworth, manager of the £115m BlackRock Corporate Bond fund, has resigned after 11 years at the firm.

Newton is planning to move Paul Brain's Global Dynamic Bond fund from the IMA Global Bond to the IMA Absolute Return sector.

Fidelity FundsNetwork is launching a new third party discretionary management service for advisers.

The S&P 500 closed up 3.4% overnight, boosting Asian shares and lifting the US index nearly 11% from lows seen last week.

The number of shares out on loan in September has risen by the highest level in five years as investors reacted to market falls by taking more negative bets.

George Osborne has said efforts in Europe to tackle the economic crisis are currently falling short of what is needed, warning the billions pledged by governments so far are not enough.

China's state controled sovereign wealth fund has begun investing in the country's banks after shares hit a 30-month low.

The Financial Services Authority (FSA) has said it is possible no-one is responsible for Arch cru investors' losses.