Markets tumbled today after poor employment and manufacturing reports in the US renewed investors’ concerns about the pace of global recovery.

Investors in London held their nerve today as momentum seeped back into the markets following the worst month for more than three years.

Fears of rising interest rates in the United States returned to haunt investors as the FTSE 100 Index drifted into the red today.

British water and sewerage group Pennon has rejected a takeover approach from multi-millionaire City financier Guy Hands, it announced today.