News

Invesco Perpetual's co-head of fixed income, Paul Read, has told investors now is the time to be bullish on bank debt in the UK, US and Europe, with valuations at three-year lows despite huge improvements in balance sheets.

The Belgian market regulator has halted trading of shares in Franco-Belgian bank Dexia as speculation mounts over the sale of its Luxembourg unit, the BBC reports.

Bank shares have deepened losses after the downgrade of 12 UK financial institutions by Moody's, pushing the FTSE 100 into negative territory.

Billionaire investor George Soros has lost his appeal to have a 2002 conviction for insider trading of Société Générale shares thrown out, the Telegraph reports.

Angelos Damaskos, manager of the £40m Junior Gold fund and CEO of Sector Investment Managers, picks five gold miners best placed to benefit from the upswing in commodity prices.

The UK government is concerned Royal Bank of Scotland will need a further injection of taxpayers' cash in the event of a broad recapitalisation of Europe's banking sector, the FT reports.

Bank of England governor Mervyn King has described the current financial crisis as the "most serious" the UK has seen for at least 80 years.

The European Central Bank has held rates at 1.5% despite mounting pressure on policymakers to resolve the sovereign debt crisis.

US markets recovered from initial falls on the opening bell as investors digested an ECB rate freeze and some positive US employment data.

Troy Asset Management's Sebastian Lyon continues to back gold despite a sharp correction in the asset class in September.