News

Portugal's finance minister said its €78bn EU rescue package will push the country into recession this year.

2CG, the boutique founded by Charles Glasse and Christopher Garsten, has added a sterling share class to its flagship European Capital Growth fund which will be available to retail investors for an eight-week period.

M&G's Richard Woolnough has slashed duration to just 3.3 years on his £3.9bn Optimal Income fund in anticipation of a spike in gilt yields.

Artemis' James Foster said the Monetary Policy Committee should hike interest rates to the same level as those in the eurozone to push up the value of sterling and stem inflation.

The Bank of England has again held rates at 0.5% amid signs the economic recovery is failing to gather momentum.

Jeremy Tigue's £2.2bn Foreign & Colonial investment trust has underperformed its benchmark in the first quarter.

Banking shares led the FTSE 100 lower late morning after Lloyds Banking Group revealed it had set aside £3.2bn to compensate customers for missold payment protection insurance.

The FTSE 100 has pushed back up to the 6,000 mark after shedding almost 100 points yesterday on weak US service sector and job data.

Glencore's Ivan Glasenberg is set to become one of Europe's richest men following the commodities giant's record initial public offering.

Mervyn King's argument for keeping interest rates at a record low 0.5% has received a boost from the latest construction data showing economic growth is not yet strong enough.