Equities

The Dow Jones Industrial Average closed at a four-year high overnight Tuesday as investors flocked to US stocks amid the resurgence in the country's economy.

Lloyds Banking Group has set aside an extra £375m to cater for an influx of compensation claims related to the mis-selling of payment protection insurance (PPI).

Some Barclays shareholders are expected to vote against the pay of its top executives at the bank's annual general meeting on Friday.

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MANAGED

Apple has seen its quarterly profit almost double, rocketing past analysts' forecasts and allaying fears of limited future sales of the iPhone.

Peter Cockburn's £371m SWIP UK Select Growth and £124m UK Opportunities funds have been handed to James Clunie with immediate effect, as part of a shake-up at the firm which will see 23 investment roles culled.

MID-CAPS

Fund providers are preparing for the RDR deadline at the end of the year by launching share classes without commission and platform fees.

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