News

The FTSE was trading more than 40 points higher this morning at 5,933, its highest level since June 2008.

The FTSE has broken through the 5,900 barrier, up 0.56% or 32.89 to 5,904 at 3pm, to reach a 52-week high.

Gartmore's shares slumped 9.35% this morning to 95p, pushing the fund manager to top of the losers' board across the whole of the FTSE350.

Foreign & Colonial will attempt to persuade key shareholders in the New Year to reject activist investor Sherborne's attempts to shake-up the group's board, according to the Daily Mail.

The FTSE had a volatile start to this week's trading as investor fears over the eurozone crisis took hold but the index is now up 0.12% to 5874.

BlackRock's Mark Lyttleton is looking to increase exposure to banks in his £1.4bn UK Dynamic fund in the view valuations are attractive again.

Investment trust managers are optimistic equities will rally in 2011 and 77% expect the FTSE 100 to end the year between 6,000 and 6,500, according an AIC survey.

Threadneedle has altered the investment policy of its £406m Strategic Bond fund to allow the use of derivatives for investment purposes.

UBS is launching an Emerging Market Equity Income fund for Urs Antonioli.

Neptune is exiting the fixed income space, with the closure of its Corporate Bond and International Bond funds, both run by Ted Alexander.