Today's top story:Exclusive: Frank Field hopes to lock horns with Green over Arcadia sale
Today's leader:It's time for the City’s Leavers to stand up
European shares are expected to open higher this morning, raising hopes big losses suffered two weeks ago can be fully erased.
The FTSE 100 is called 0.15 per cent higher at 7,306 by IG Analysts. Germany's Dax is set to strengthen by 0.67 per cent to 12,535 and France's Cac is projected to nose up 0.37 per cent to 5,301.
Japanese stocks surged overnight with the Nikkei Index rising 1.3 per cent.
The MSCI Asia-Pacific excluding Japan was 0.5 per cent higher.
Gains made in Asia come as global shares delivered their best one-week gain since December 2011 – the MSCI global index rose 4.3 per cent last week.
The most recent stock market tilt follows a two-week sell-off that wiped as much as 10 per cent off the value of global equities. Investors were spooked by inflation concerns – and associated worries about the rising cost of borrowing – as well as high share price earnings multiples.
Meanwhile, trading in the black stuff strengthened overnight. Brent crude rose 0.7 per cent to $65.30 a barrel as the recovery in equities and worries over tensions in the Middle East pumped prices up to a two-week high.
Corporate news
- Lego launches “classes” in China
- Latvian bank ABLV probed by European authorities
- Chanel and Farfetch seal a digital fashion tie-up
Data
- 09:00 – Eurozone current account (December)
- 10:00 – Eurozone construction output (December)
- 18:45 – Bank of England governor Mark Carney speech
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CityAM
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