The Press Association has become a shareholder in a London-based financial news service that plans to expand across Europe.

PA and its German counterpart DPA (Deutsche Presse-Agentur) have taken a combined 8 per cent stake (3.86 per cent each) in Alliance News.

The company, which launched in 2013, provides real-time equities news for financial professionals and investors and currently offers coverage of every firm listed on the London Stock Exchange.