The Bank of England has opted against further quantitative easing (QE) at Mervyn King's final Monetary Policy Committee meeting, dashing the governor's hopes of more stimulus.

Concerns over a potential end to US quantitative easing saw global fixed income markets slump in May, but further sudden sell-offs may be less likely.

Artemis has poached Richard Pursglove from Goldman Sachs Asset Management to head its retail business.

Crispin Henderson, the former CEO of Threadneedle who stepped back from the role in March, is to retire from the industry at the end of the week.

The FTSE 100 index has shrugged off the heavy falls seen at the end of last week to resume its upward trend in early trading this morning.

Santander has confirmed it is "exploring the possibility" of the sale of a stake in its asset management division.

Henderson is to scrap the yield target on two of its multi-manager funds due to "dramatic changes" in the income environment, Investment Week, IFAonline's sister title, can reveal.

Franklin Templeton is set to close Mark Mobius' $2bn Templeton Frontier Markets fund to new clients next month, Investment Week understands.

St James's Place stock has fallen 10% in today's trading after majority shareholder Lloyds Banking Group placed 77m shares into the market.

European markets recorded sharp falls in early trading on Thursday after Japan's Nikkei 225 index shed more than 1,100 points on concerns the US Federal Reserve may scale back its quantitative easing programme.