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Investment market update

Early Trading

UK stocks are set to open higher this morning following rises on Wall Street and across Asia overnight.

World Markets

Asian stocks rose a second day, extending a rally that’s added $4.1 trillion to global stocks this month as a run of weaker-than-estimated economic reports from China, Europe and the US dampened expectations on the Federal Reserve raising interest rates this year.

US stocks advanced for the first time in three days as bank shares rebounded amid Citigroup Inc.’s better-than-estimated results, touching off a rally that sent the S&P 500 Index to an eight week high.

UK stocks rose for the first time this week, helped by gains in Arm Holdings Plc which added 5%. Arm was boosted by takeover talk in the industry.

Headlines

Debt and money markets are readying for a cut to the European Central Bank’s deposit rate, regardless of what its policy makers say in public. Traders are pricing in a possible reduction to the rate for holding overnight deposits, said UBS Group AG and Barclays Plc.

David Cameron responded to growing pressure for clarity about his renegotiation of Britain’s relationship with the European Union, announcing he will set out his demands in a letter within weeks.

European Commission President Jean-Claude Juncker will press ahead with plans to improve the euro area’s banking union even after leaders backed off from endorsing stronger financial system ties, a European Union official said.

US banks are gorging on Treasuries in the latest sign investors expect the Federal Reserve to postpone raising interest rates. Commercial lenders boosted their holdings to a record $2.15 trillion at the end of last month, based on Fed data. The stake is almost double the amount owned by China, the biggest US foreign creditor.

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