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What you need to know before the open

Today's top story: Record tax take from financial servi..

Today's top story: Record tax take from financial services as City lobby group urges government to stop Brexit divorce bill penny-pinching

Today's leader: After the hype, this year's retail extravaganza of Black Friday was a short-lived frenzy

European stock markets were seen as opening lower this morning, as the euro reached a two-month high against the dollar amid good news from Germany.

Business confidence in Germany has hit a record high, according to data from the Ifo Institute on Friday. Meanwhile, news emerged yesterday that Angela Merkel’s Christian Democrats (CDU) have agreed to pursue a “grand coalition” with the Social Democrats (SPD) to break the country's political deadlock.

Back in the UK, the government will launch its new industrial strategy today and announced it has received an investment from US healthcare giantMerck & Co.

The FTSE 100 is expected to open down by 12 points, with Germany's DAX 24 points lower and France's CAC 40 down 10 points.

Asian markets were also generally down in morning trading, after last week's holidays in Japan and the US and ahead of major economic releases later this week.

Corporate news

  • Patisserie Holdings – the owner of Patisserie Valerie will have final results out today, after chief executive Luke Johnson has remained bullish on Brexit.
  • Cerillion – the Aim-listed software company (not to be confused with Carillion) will reveal full-year results today.
  • Trakm8 Holdings – Aim-listed Trakm8, which uses "big data" for fleet management, will have interim results out today.
  • Marston's – the pub group, which will announce final results on Thursday, said non-executive director Nick Backhouse will step down in January.
  • Keystone Law – the law firm began trading on Aim this morning, as one of the UK's few listed legal companies.


  • 9:00 – EU Financial Stability Review
  • 22:30 – US Fed member Kashkari speech

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