Electronics giant Apple has paid €1.5bn into an escrow account set up by the Government to retain the €13bn in disputed taxes the company owes Ireland.

Shares in Italian banks Banca Monte Paschi di Siena and UniCredit had mixed fortunes as both took steps to raise fresh funds.

The European Central Bank (ECB) published the legal act for purchases of asset-backed securities, setting it up to start buying the debt as soon as today.

The ECB has picked four asset managers to aid purchases of asset-backed securities that it says will start next month.