FTSE

3.10pm: US markets have shrugged off poor third-quarter GDP results with trading muted early in the session.

Global markets fell this morning over fears the new Spanish government - instated over the weekend - will not be able to pull back its domestic economy from the brink of default.

The FTSE opened 1% lower on Friday following heavy falls in the US and across Asia overnight, with investors spooked by Spanish bond yields moving perilously close to the critical 7% level yesterday.

Schroders' Richard Buxton has warned investors the chances of the FTSE 100 breaking through the 6,000 level in the next three to five years is remote.

European markets rallied late on Friday as Italy approved new austerity measures, a move which is set to precede the resignation of Prime Minister Silvio Berlusconi.

The FTSE 100 dropped sharply in morning trading as investors fretted over the future of Italy following a spike in the country's bond yields to record levels.

FTSE has partnered with the Nairobi Securities Exchange to develop indices for Kenya, which could precipitate the introduction of ETFs to the market.

Markets moved lower on Monday as fears over Greece and Italy remained despite the imminent formation of a Greek coalition government.

The City of London is "under constant attack" from European Union regulations, David Cameron has said. Read more on this and the other top headlines in our round-up of the nationals.

OBSR investment research analyst Richard Whitehall examines the top performing funds in the UK All Companies sector over the short and long term