News

Bond managers fear for gilts and sterling in the coming days and weeks as the markets react poorly to the reality of a hung parliament.

The FTSE 100 plunged 1.71% or 89.76 points to 5171.23 this morning as shares were hit by the prospect of a hung parliament in the UK and worries over the Greek debt crisis.

Nigel Waterson, the Tory pensions spokesman, has lost the Eastbourne seat he has held for 18 years to the Liberal Democrats.

Britain has its first hung parliament in decades with the Conservatives the largest party.

Gilts and sterling are falling sharply this morning as investors react to the likelihood of a UK hung parliament.

FINLAND - Valtion Elåkerahasto (VER), Finland's state pension fund, gained 5.3% during the first quarter on the back of its equity investment performance.

BRAZIL - Brazil's lower house of parliament has approved a 7.7% increase in pension payments for some of the country's pensioners but serious obstacles remain before it can go into effect, including a possible veto from president Luiz Inacio Lula da Silva....

MEXICO - Mexican Deputy Finance Minister Alejandro Werner said rules allowing pension funds to invest in stocks will lead to more initial public offerings.

Change in law excludes pensions from equal pay

Scottish Widows Investment Partnership has combined its global developed and global emerging markets desks after six investment directors quit the firm for rival investment manager Martin Currie.