HUNGARY

Warren Buffett's retail favourite Tesco has seen its shares plunge 14.2% following a profit warning today.

Kames Capital's fixed income team has said quantitative easing in Europe is a must in order to prevent Germany losing its AAA rating.

Barings is merging Colin Harte's Absolute Return Global Bond trust into Andrew Cole's £90m Multi Asset fund.

The IMA could be ready to launch its delayed fourth Managed sector in the coming months, following a pick-up in interest from fund groups.

Credit ratings agency Fitch has cut Hungary's long-term foreign and local currency debt to junk status, following a tumultuous week for the country.

Architas CIO Caspar Rock has predicted 2012 will be another "bumpy year" with rising equity markets until the second quarter, when there could be another sell-off.

Franklin Templeton Investments' Michael Hasenstab has defended his Hungarian debt position amid reports the group owns 10% of the country's local bond market.

Europe's single currency reached a 15-month low against the dollar following a French bond auction this morning which saw almost all of the €8bn of debt targeted being sold.

Spanish banks will be required to find another €50bn in provisions to make up for ‘bad property assets' as the government carries out further reforms on the financial sector.