News

Jupiter CIO John Chatfeild-Roberts has urged investors to remain calm in the face of global market turmoil, adding he sees it as a buying opportunity, particularly for S&P 500 names.

Royal Bank of Scotland has blamed the European crisis and PPI claims for £1.4bn losses in the first half of 2011.

M&G, the asset management arm of insurer Prudential, saw profits rise 39% in the first half of 2011 despite a sharp decline in inflows.

Social networking group LinkedIn has reported a 120% increase in revenues for Q2, beating analysts' expectations who expected the group to report a net loss.

Old Mutual saw profits climb in the first half, driven by cost cutting measures and the performance of its South African banking arm Nedbank, while Skandia saw its profits fall by nearly a third.

The FTSE dropped more than 3% in early trading on Friday, following US and Asian markets sharply lower as the global sell-off continues.

Jupiter's Guy de Blonay has called for European authorities to take further action in supporting markets or the sovereign debt crisis will spread to other eurozone economies.

Sharp falls in bank and mining stocks have dragged the FTSE 100 down a further 3.4% today as global markets continued to struggle.

The European Central Bank (ECB) has voted to hold interest rates and will boost liquidity in the eurozone in an attempt to prevent the sovereign debt crisis from spreading to Italy and Spain.

Global funds were the best selling portfolios in June, attracting record interest from investors, the Investment Management Association (IMA) said.