Amid the rise of both stock indices the price of gold has fallen over 13%.

FORBES: $1400 Gold Is a Bullish Signal Amid a Bearish Presidency

Like Mr Kerviel, who used his knowledge of the bank's plumbing to create fictitious trades to cover his tracks, Mr Adoboli is alleged by sources close to an internal investigation of the affair to have bet the bank's money on the future price of various stock indices and to have then hidden these moves by creating offsetting fake transactions.

ECONOMIST: UBS��s trading loss

Although a stock-picker who underperforms benchmark share-price indices will find himself out of a job, there are no benchmarks for investment consultants themselves.

ECONOMIST: Fund management