The FTSE 100 is called to open 18 points lower at 6676
UK Gilt 10 Year Yield 0.7304 Spot Gold $1352.58 -1.35 Brent Crude $42.35 -0.45
$ per £ 1.3181
$ per € 1.1179
€ per £ 1.1793
$ per € 1.1179
€ per £ 1.1793
The S&P 500 Indexretreated after briefly approaching a fresh record, as falling crude prices sparked a sharp selloff in energy shares, denting confidence that U.S. growth and corporate profits will rebound. An advance spurred by gains in health-care and technology companies was erased in early afternoon trading as crude dipped below $40 a barrel, dragging oil and gas producers to their worst decline in five weeks. Exxon Mobil Corp. and Chevron Corp. dropped at least 3.2 percent. Biogen Inc. led the health-care group higher after positive trial results for a drug the company is developing with Ionis Pharmaceuticals Inc. The S&P 500slipped 0.1 percent to 2,170.84, on the heels of its longest monthly winning streak since 2014. The Dow Jones Industrial Average lost 27.73 points, or 0.2 percent, to 18,404.51. The Nasdaq Composite Index added 0.4 percent to its highest in a year, and the Nasdaq 100 Index extended an all-time high. About 6.6 billion shares traded hands on U.S. exchanges, 7 percent below the three-month average.
PRESS COMMENTARY
A former Bank of England rate-setter has warned that cutting interest rates would do more harm than good as pressure grows on the monetary policy committee before this week’s meeting, Times.
A former Bank of England rate-setter has warned that cutting interest rates would do more harm than good as pressure grows on the monetary policy committee before this week’s meeting, Times.
US crude oil prices have slipped below $40 a barrel for the first time since April on signs that production is picking up as clouds gather over the global economy, Times.
COMPANY NEWS
InterContinental Hotels Group PLC reported a fall in interim net profit, citing challenging conditions in some markets, but said it is confident about the outlook for the full year.
InterContinental Hotels Group PLC reported a fall in interim net profit, citing challenging conditions in some markets, but said it is confident about the outlook for the full year.
Travis Perkins PLC reported an 11% rise in pretax profit for the first half of 2016 and said secondary housing transactions and consumer confidence in the U.K., its two leading indicators, "are unlikely to be positive."
BMW AG's second-quarter profit and revenue report on Tuesday beat analyst estimates while it confirmed its outlook for the year.
Direct Line Insurance Group PLC said it will issue a special dividend payment despite a decline in first-half pretax profit.
Metro AG reported net profit in the fiscal third quarter almost quadrupled, helped by a lower tax rate.
Fresnillo PLC reported a surge in first-half net profit, buoyed by higher output and increases in gold and silver prices.
Deutsche Lufthansa AG said it still expects to be able to pay a dividend for 2016, despite cutting its profit target for the year.
Meggitt PLC reported a 60% fall in first-half pretax profit, hit by the recent weakness of sterling, but backed its full-year guidance.
Commerzbank AG on Tuesday warned it won't reach its goal of keeping net profit stable in the full year as revenue and net profit declined in the second quarter on the back of negative interest rates and sluggish client activity.
Honda Motor Co. Ltd. said Tuesday its net profit fell 6.1% in the April-June period as the yen's appreciation reduced income from robust sales in overseas markets such as North America and elsewhere in Asia.
Spirent Communications PLC swung to an interim pretax profit as it benefited from a reduction in operating expenses.
SDL PLC reported a drop in half year profit but said it is confident of the outlook for the current financial year despite the recent upheavals in Europe following the U.K.'s decision to leave the European Union.Source Quilter Cheviot
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