News

Odey Asset Management has recruited Simon Todd and Michael Nickson from US group MFS to run a new long-only global equity fund.

The Dow Jones benchmark index in the US looked set to cap a week of gains, moving up 25.5 points to 9,812.34.

HSBC Global Asset Management has unveiled the GIF Middle East and North Africa fund a year after it was initially slated for launch.

Threadneedle is closing its UK Money Securities fund after it experienced huge losses and redemptions since the start of the credit crunch in summer 2007.

David Dalton-Brown is to quit his position as head of Fidelity FundsNetwork, the firm has confirmed.

A rise in consumer-focused shares helped to push the UK's benchmark share index ahead despite profit-taking in miners and banks.

The Dow Jones raced to a near 75-point lead in early trading on Thursday thanks in part to strong gains from aluminium giant Alcoa.

The Bank of England today kept its key lending rate at a record low of 0.5%.

Threadneedle CIO, Sarah Arkle, has raised financials to an overweight in her global sector views, and is optimistic on a continued rally in equities.

The FTSE opened buoyantly, up more than 49 points to 5,158.28, on the back of strong performance from mining companies, due to higher metal prices because of the weak dollar.