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What you need to know before the open

Today's top story: Lloyds under pressure over fraud rep..

Today's top story: Lloyds under pressure over fraud report

Theresa May faces another showdown with Tory rebels today after refusing yesterday to accept demands for parliament to have a “meaningful vote” on Brexit that could stop Britain crashing out of the European Union with no deal.

Across the pond, Donald Trump's decision to impose tariffs on a further​ $200bn worth of Chinese goods took its toll on global markets, hitting companies in big exporting markets especially hard, according to the FT.

Meanwhile, the FTSE is predicted to open slightly up this morning at 7,665 points, according to IG Squawk. The German Dax is expected to open up 0.66 per cent to 12, 762, while the French Cac is expected to rise 0.76 per cent at 5,432 points.

Asian markets were turbulent again yesterday following the escalating trade war between the world's two largest economies. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, following a 2.1 per cent fall on Tuesday. Japan's Nikkei was up 0.1 per cent after falling into the red earlier.

Corporate news

  • Berkeley Group – the British property developer has its final results out today, as does Severfield, the steel manufacturer behind the Tate Modern and the Shard
  • DFS – today marks the sofa company's interim dividend payment date

Data

  • 14.30 -The US Federal Reserve's Powell will give a speech
  • 14.30 – ECB President Draghi speech

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