Asian stocks extended a global rally overnight following positive data from the US and China, while the FTSE 100 has begun reversing yesterday's gains.

Moody's downgrade of Japan's credit rating last week came as no shock to markets, while economists warned the appreciation of the yen is a more crucial issue for the country.

Janus Capital's John Eisinger is doubling his exposure to value stocks although they have dragged on performance, as he said more QE would not be enough to rescue US growth prospects.

Invesco's chief international economist John Greenwood said Chinese inflation is set to remain in the 4% to 6% range unless the authorities move to tighten policy.

Former Invesco gilt specialist Jack Loudoun has joined Deutsche Asset Management's London-based fixed income team.

Deven Sharma, the man who oversaw the downgrade of the US' credit rating earlier this month, is stepping down as president of Standard & Poor's.

First State Global Property Securities fund returns seven times the peer group average as global focus pays dividends.

£4bn Newton Real Return suffers short-term performance dip on misjudged currency bets.

Industrial production in Europe fell in June at the fastest rate since the start of the year, deepening fears economic growth will be hampered by the sovereign debt crisis.

Aegon's pre-tax underlying earnings have fallen by €13m in the second quarter, to €401m, after the business was impacted by falls in the dollar and hefty charges for administration problems.