News

PSigma's Tom Becket believes the FTSE 100 could rise 10% by the end of year as European policymakers look set to recapitalise the Continent's highly indebted banks, boosting investor sentiment.

Asian markets as a whole will not begin to outperform until the European debt crisis is resolved, but consumer stocks in China will serve investors well, according to JO Hambro Capital Management's Paul Wimborne.

Shares in Man Group have fallen over 20% this morning as the investment manager warned of a $6bn contraction in funds under management in Q3.

Markets have broken their three-day rally this morning, forced down by concerns some countries will be forced to take larger writedowns on Greek bonds.

Eurozone countries are divided over the terms of Greece's second €109bn bailout, with seven of the bloc's 17 members pushing for private creditors to accept a greater writedown on their Greek bonds, the FT reports.

MAM Funds saw its funds under management climb 9% year on year, according to its interim results for the first half of the year, released today.

Liontrust has blamed stock market movements for a fall in its assets under management between April and September, but has reported a positive net inflow for the period.

Standard and Poor's (S&P) has received notice from the Securities and Exchange Commission (SEC) recommending a lawsuit be brought against it over a mortgage-backed security it rated in 2007.

Lloyd George Management has appointed Thomas Vester Nielsen to run its newly launched Frontier Markets equity strategy.

US markets added to their overnight gains on open this afternoon, following in the footsteps of European markets, which have rallied for the second day running.