Economics / Markets

Mark Carney has moved to defend the Bank of England's 'forward guidance' policies and said further stimulus may be necessary keep the UK economic recovery on course.

J.P. Morgan could be hit with a fine of more than $6bn from US authorities as they pursue the bank over sales of securities to government-backed mortgage companies.

Markets around the world sold-off overnight while oil continued to soar, as the prospect of military involvement in Syria's civil war grows.

Gold has climbed above the $1,400 per ounce mark for the first time since June, re-entering a bull market as disappointing US data and worries over Syria push investors into safe havens.

European financials are among the day's biggest fallers as benchmark French and German indices struggle amid intensifying geopolitical concerns.

Charlie Bean, the deputy governor of the Bank of England (BoE), has said the Bank has sent a "clear signal" it won't increase interest rates anytime soon as he expressed some surprise at investors' reaction to its position.

The UK economy grew by 0.7% in the second quarter of 2013, a higher than previously estimated figure, according to latest figures from the Office for National Statistics.

Better-than-expected data from China and the Eurozone helped the FTSE 100 rebound from a three-day sell-off that saw the index hit a six-week low earlier this week.

PA PORTFOLIO

Analysts are upgrading their UK growth forecasts ahead of a potential upwards revision to Q2 figures this Friday.