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Investment market update

Early Trading

UK shares are expected to open higher on Tuesday after losses on global markets yesterday and as traders eye a possible interest rate rise across the Pond.

World Markets

Shares in Asia were largely down on Tuesday as investors continued worry about a possible Federal Reserve rate rise this year. Positive US jobs numbers released on Friday have boosted expectations the Federal Reserve will make a move at its policy meeting in December. Japan’s benchmark Nikkei index recovered earlier losses to close up 0.1%.

Wall Street closed lower on Monday, reacting to growing expectations that the Federal Reserve will raise interest rates in December.

UK stocks fell for a third day, extending declines toward the end of the trading day, however, Aberdeen Asset Management Plc climbed 1.8% for the biggest gain among FTSE 100 Index shares.

Headlines

Vodafone Group Plc, the second-largest mobile-phone company by customers, reported second-quarter service revenue that rose more than analysts estimated as markets in Europe recovered.Vodafone is getting a boost from rebounding markets in Europe, which had been battered by price wars and high unemployment, as well as a surge in demand for mobile data in Africa and India.

David Cameron will stake Britain’s place in the European Union on his ability to restrict welfare payments to people coming to the UK from elsewhere in the bloc. In a letter to EU President Donald Tusk, the Prime Minister will set out demands to change the UK’s relationship with the EU in four areas. They are: protecting the rights of countries outside the euro zone; increasing economic competitiveness within the EU; giving national parliaments more powers; and restricting welfare rights for non-UK citizens. The fourth is likely to be the trickiest, as it could break EU rules against discrimination between nationals of different countries.

BN Amro Group NV is offering shares in an initial public offering that may raise as much as 4.3 billion euros ($4.6 billion) as the Dutch government begins to unwind its ownership of the bailed-out lender. As many as 216.2 million shares, which represent 23% of the outstanding shares, are on sale at 16 euros to 20 euros each. At the high end of the range, ABN Amro would be valued at more than 18.8 billion euros.

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