greece

IMF to stay on board

Eclectica Asset Management's Hugh Hendry has tried to calm investor fears of a market crash, arguing recent turmoil has remained contained in "a curious way".

Greece's left-wing Syriza party has been re-elected after winning 35.5% of the vote.

The Greek market has dropped 23% this morning as it reopened after a five week shutdown, implemented while the country battled to remain in the eurozone.

Multi-asset managers have started reinvesting their high cash positions, with many topping up European exposure as Greece finally reaches a new deal with its creditors.

The bond market faces "strong headwinds" for some time as summer volatility returns and markets anticipate interest rate hikes, according to Invesco Perpetual's fixed income team.

...why it's not like 2012 for investors, in five easy pieces

European markets are down but stable in early trading after the Greek people voted against further austerity, with the UK's leading index hit least hard.

The FTSE 100 has opened 0.7% higher this morning after recording its worst monthly performance in three years in June.

Greece has failed to meet its International Monetary Fund (IMF) deadline for a €1.6bn repayment, hours after eurozone ministers refused to extend the country's bailout.