A flurry of merger and acquisition rumours failed to prevent the FTSE slipping into negative territory after making initial gains on the back of buoyant mining stocks.

Clarkson Hill is unable to undertake any regulated activities after the FSA removed its permissions.

The International Monetary Fund has called on the EU authorities to boost their rescue fund and step up bond purchases to insure against a fresh financial crisis in the eurozone periphery.

Moneygate Group has secured new funding as the company attempts to buy out the shareholding of its investment partners, MGT Capital Investments.

The European Central Bank has rebuffed calls for mass purchases of southern European bonds, despite growing pressure from Spain and Italy for dramatic action to buttress monetary union.

Axa Wealth says RDR does "appear" to be a threat - but thinks there are huge opportunities for those who accept it is an immovable object.

Banks are justified in refusing credit to IFA companies operating on low profit margins because lending to such high-risk firms would undermine their responsible lending credentials, says Plimsoll.

British banks borrowed more than $1trn (£640bn) from the Federal Reserve during the financial crisis, led by Barclays following its swoop on the US business of Lehman Brothers.

Global stocks are continuing to surge today on expectations the ECB will step up its government bond purchases to ease pressure on the ailing eurozone.

Axa Wealth has posted a 48% increase in sales to £2.9bn for the first nine months of the year, driven by strong results from its Elevate wrap and multi-manager offering.