The FTSE 100 lost more than 150 points and closed barely over 5,600 after Greece's debt was downgraded to junk status by ratings agency Standard & Poor's (S&P).

Merchant Capital has bought Keydata's structured product book and third-party administration services.

Meteor Asset Management says it has now received the missing money which was delaying dividend payments on two NDFA plans.

The FTSE 100 opened lower in early trading, falling 0.24% or 13.76 points to 5740.09, despite a raft of positive earnings announcements.

Investec Structured Products has begun marketing its latest round of plans including kick-out deals.

Investors in two NDFA plans face a delay to dividend payments following a mistake by the registrar.

Ratings agency Moody's has downgraded Greece following news that its budget deficit reached a worse than expected 13.6% of GDP last year.

Close Asset Management has appointed an intermediary client adviser to help IFAs plan for the RDR.

T. Bailey, Midas Capital Partners and Sarasin & Partners are co-hosting seminars in Scotland next month.

RDR will force IFAs to recommend investment trusts as part of their advice to clients, according to the FSA.