Regulators have turned their attention to at least four of Europe's largest banks in a continued investigation of manipulation of the LIBOR benchmark.

Barclays record FSA penalty for LIBOR manipulation will be superseded by other banks' fines as the investigation deepens, according to Schroders' Richard Buxton.

Royal Bank of Scotland, Barclays and HSBC were among the list of the world's biggest banks to be downgraded by Credit rating agency Moody's last night.

The UK's inflation rate posted another surprise drop in May, falling to 2.8%, as the lack of activity in the UK continues to bring prices down sharply.

Insurance firm Aviva has suffered an embarassing blow after more than half its shareholders voted against its proposals on executive pay at its annual general meeting today.

Aviva Investors chief executive Alain Dromer is set to leave the company under new plans to streamline the business.

CPI annual inflation fell to 3.4% in February, down from 3.6% in January, according to the Office for National Statistics.

Henderson Global Investor's former SRI team, which exited the firm in late 2011 after its funds were handed to other managers, has joined WHEB Asset Management.

EUROPE - European markets rallied this morning on news the European Union will support troubled Greece if it introduces additional spending cuts and a privatisation programme.