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What you need to know before the open

Today's top story: Three of the world's largest ex..

Today's top story: Three of the world's largest exchange groups granted last-minute reprieve from Mifid II futures rules

Today's leader: Don't be fooled by Next results: One festive jumper does not a Christmas make

We may be nearing the end of the week, but European stocks don't look to be running out of steam just yet.

They are poised to open much higher today – following in the footsteps of Wall Street's climb and highs in Asia.

The successful first day of trading under the new Mifid II rules could also be bringing more uncertain investors back into the fold, according to London Capital Group. More on those here.

The FTSE 100 is expected to open 18 points higher at 7,689, the Dax up 72 points at 13,050, and the Cac is set to open 29 points higher at 5,360.

Asian shares were hovering at 10-year highs with investors buoyed by positive economic data in the US and Germany.

MSCI's broadest index of Asia-Pacific shares outside Japan was nearly flat, though Japan's Nikkei rose 2.5 per cent on its first trading day of the year, while the Topix index struck its highest point since 1991.

LGC said it had been tracking the optimism that left Wall Street closing at record highs over the past two trading sessions.

Corporate news

  • Tesla – stalls on Model 3 production, with output behind what boss Elon Musk originally forecast
  • AT&T – has announced it will launch 5G mobile network service across a wave of US cities by the end of the year
  • Didi Chuxing – the Chinese firm has agreed to take control of Brazil's 99 ride-hailing app
  • Nintendo – shares jumped off the back of a Financial Times report that Pokemon Go developer Niantic had secured a deal to launch the game in China
  • Singapore Airlines – has U-turned on an announcement made yesterday that it was going to introduce a credit card fee for tickets issued in Singapore

Data

  • 07:00 – UK Nationwide house prices (December)
  • 08:15 – Spanish Markit Services PMI (December)
  • 08:55 – German Markit Services PMI (December)
  • 09:00 – Eurozone Markit PMI Composite (December)
  • 09:30 – UK consumer credit and mortgage approvals (November)
  • 12:30 – US initial jobless claims (29 December)

Original Article

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