Today's top story: Calls to give City watchdog sharper teeth
Today's leader: Don't punish pension freedom drawdowns
Donald Trump has once again raised the stakes in the looming trade war with China, this time threatening to increase the tariff rate on $200bn (£152bn) worth of Chinese imports from 10 per cent to 25 per cent, according to Bloomberg, in a move that has been seen as an attempt to browbeat China into making concessions.
Unsurprisingly, the Asian shares that initially crept higher on Wednesday following a firm Wall Street finish were curbed by weak data and the late night reports of volatile relations with the US. MSCIs broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent, while Japans Nikkei stock index gained 0.7 per cent.
Meanwhile, the FTSE 100 is expected to open slightly up this morning at 7,740 points, according to IG Squawk.
The German Dax is also expected to open slightly up but the French Cac is predicted to open slightly down.
Corporate news
- BAE Systems – the aerospace giant is one of many firms to report interim results today. Others include: Capita, Direct Line, Lloyds, Rio Tinto and Smurfit Kappa
- Hargreaves Services has its final results out today
Data
- 07.00 – nationwide housing prices (July)
- 08.00 – EU non-monetary policy ECB meeting
- 19.00 – US Fed interest rate decision
