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What you need to know before the open

Today's top story: Trade war looms as China sends warni..

Today's top story: Trade war looms as China sends warning to US after damp squib trade talks

Today's leader: Javid seeks to move on from May's immigration obsession

Fears of a trade war rumbled on today, as US negotiations with China hit a wall.

Meanwhile this morning Australian bank Commonwealth has offered to pay a $700m (£400m) for breaching anti-money laundering laws.

In Europe, spread-betters expect the FTSE to open up 0.3 per cent. The German Dax is projected to climb 0.35 per cent, while the French Cac will likely be up 0.36 per cent.

Asian stocks rose after Friday's US jobs report bolstered optimism and as President Donald Trump said his meeting with North Korean leader will indeed take place.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.82 per cent. The KOSPI was up 0.4 per cent, while Japan's Nikkei was up 1.35 per cent.

Corporate news

  • CYBG– has agreed a revised offer for Virgin Money, to give the latter's shareholders a bigger stake in the combined business.
  • DS Smith – The packing company has proposed an acquisition of competitor Europac.

Data

  • 09.30 – UK PMI construction (May)
  • 14.35 – US business conditions (may)
  • 15.00 – US factory orders (May)

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