The FTSE 100 is called to open 25 points
higher at 7415
UK Gilt 10 Year Yield 1.204 Spot Gold
$1239.88 -2.44 Brent Crude $48.82 -0.16
$ per £ 1.3045
€ per £ 1.1312
$ per € 1.1533
U.S. stocks fell and the dollar slid to an
11-month low as President Donald Trump’s economic revitalization agenda once
again faltered. European shares dropped amid earnings disappointments, and gold
climbed to the highest in two weeks. The S&P 500 Index was lower, with
financial and health care shares among the leading decliners. The Stoxx Europe
600 Index fell following a grim earnings report from Ericsson AB. Iron ore
futures hit their highest since May on strong demand from Chinese steel mills.
While many traders had already dialed back
their expectations Trump will be able to execute his pro-growth policies, the
apparent death of the health-care bill lent a risk-off tone to markets. Some
notable investors have become less sanguine as global equities continue to
trade near record highs.
PRESS COMMENTARY
• Financial Times: Goldman Sachs has
suffered its worst ever quarter in commodities, leaving the bank’s overall
fixed-income division with a 40% collapse in revenue and putting it on course
to dramatically underperform its Wall Street rivals for the second quarter in a
row.
• The Times: Three million Mercedes-Benz
cars will be hauled off the road to cut emissions amid growing concerns over
pollution from diesel engines, it was announced yesterday.
COMPANY NEWS
Daimler AG is seeking to head off a growing
crisis over potential emissions cheating by voluntarily recalling more than 3
million Mercedes-Benz diesel vehicles in Europe.
IBM reported operating earnings per share
for the second quarter that beat the highest analyst estimate.
TalkTalk revenue in the three months ended
June 30 fell 3.2% percent year over year, driven by effects of consumer
contract activity, co. says in a statement.
Severn Trent raised its guidance for its
business services division following the disposal of its North American
business. The company expects its full-year performance to be in line with
previous guidance.
Volvo AB’s second-quarter operating profit
jumped 39 percent as the Swedish truckmaker delivered more vehicles and demand
for construction machinery increased.
TT Electronics to sell Transportation
Sensing and Control division to AVX Corporation, through its subsidiary AVX
Limited, for GBP118.8m cash on a cash free, debt free basis.
ASML Holding NV forecast third-quarter
sales barely topping analysts’ estimates, as Europe’s largest
semiconductor-equipment maker won orders for eight more of its newest
lithography machines in the second quarter.
Apple Inc. has appointed one of its top
wireless software engineers the new head of its Chinese operations, as it tries
to reverse a persistent sales decline in its largest market after the U.S.
Aviva sells Friends Provident International
Ltd. to RL360 Holding Co. Ltd., a subsidiary of International Financial Group
Limited, for a total consideration of GBP340m.
RPC Group 1Q trading was strong, with cash
flow and merger synergies on target and the group announcing a GBP100m share
buyback.
Akzo Nobel NV Chief Executive Officer Ton
Buechner stepped down because of ill health.
McCormick & Co. agreed to acquire
Reckitt Benckiser Group Plc’s food business for $4.2 billion, a deal that would
add French’s mustard and Frank’s RedHot sauce to the spice giant’s lineup.
BHP. Fourth-Quarter Iron Ore Output Rises
8% on Expansions.
Micro Focus Kevin Loosemore,exec chairman,
buys £1.1m shares. Source Quilter Cheviot.
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