Low growth, recovery or second wave: the investments to own in each scenario.

The real reason why Fundsmith has done so well, the trust that says ditch growth stocks and buy value, and the pace is picking up for acquisition-fuelled fundraisings.

Investment ideas include a Covid testing specialist enjoying significant success and a high-quality European company on a rare discount.

Discover the options for Rolls-Royce shareholders as it unveils a £2 billion rights issue. Shares also gets under the bonnet of Renishaw.

Elsewhere this week: What Asda’s sale means for supermarket rivals, Premier Foods poised for Hovis windfall, and housebuilders rally on Boris Johnson’s bid to help first-time buyers.