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Today's top story: “Astonished” AA slams legal action a..

Today's top story: "Astonished" AA slams legal action against ex-chair's sacking

Today's leader: Big retail brands still at mercy of the market

Japanese traders returned from a bank holiday overnight in bullish spirit with equity markets touching levels last seen in November 1991.

In Europe, the FTSE 100 is expected to open 11 points higher at 7,707 according to LCG analysts. Germany’s Dax is seen 12 points lower at 13,355 while in France the Cac is projected to start the day two points down at 5,485.

Japan’s Nikkei was up 0.5 per cent after surging to catch up on gains made by Asian counterparts on Monday.

The yen flirted with record highs after Japanese central bankers made a slight reduction in bond purchases – something that reminded traders monetary policy will eventually normalise

The MSCI Asia-Pacific excluding Japan nudged high up 0.2 per cent. It hit 590.89, threatening to scale heights last seen in November 2007 (of 591.50) for the second day running.

Trading in the black stuff remained strong as political concerns about some of the Opec nations weighed on oil prices. Meanwhile, worries over US supply in the wake of rig figures published last week are also helping to prop up oil at highs last seen in May 2015.

Brent crude added 44 cents, or 0.7 per cent, to hit $68.22.

Corporate news

  • Intel – Mobileye autonomous driving technology to be used in 2m vehicles
  • GM – US car giant pledges to make electric cars profitable by 2021
  • Samsung – record annual profits failed to set investors alight
  • Alibaba – founder to “seriously consider” listing in Hong Kong


  • 08:00 – ECB non-monetary policy meeting
  • 10:00 – Eurozone unemployment
  • 15:00 – Fed member Kashkari speech

Original Article





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