The FTSE has extended early gains after figures showed inflation eased in July, with financials and mining stocks leading the charge into positive territory.
Co-operative Financial Services (CFS) says it is in 'advanced discussions' with a buyer for its IFA business.
Markets are braced for more gloomy news on the western economies with US data expected to confirm a poor outlook for jobs and shaky confidence.
The FTSE 100 opened in positive territory as strong results from majority-nationalised bank RBS crowned off a largely impressive results week for the UK banking sector.
Bank of England's Monetary Policy Committee (MPC) today held interest rates at 0.5% - marking the 17th consecutive month they have been held at the historical low.
HSBC reported profits doubled to £7bn for the first half of the year, with gains in every region apart from North America.
The ABI has appointed Aviva Investors chief executive Alain Dromer as chairman of its Investment Committee, effective from 15 September.
The FTSE has plunged into the red as concerns over US economic growth and mixed results from big corporates drove Wall Street into negative territory at the start of trading.
UK inflation dropped for a second consecutive month to 3.2% in June, driven by falling petrol and clothing prices, according to the Office for National Statistics (ONS).
Cautious Managed was the top selling sector on Cofunds in Q2 as advisers look to outsource investment decisions to multi-managers in the run-up to RDR.