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Investment market update

Early Trading

UK stocks are expected to open higher this morning following gains in Asia overnight as well as better-than-expected results from Tesco.

World Markets

Asian stocks climbed, building on their biggest five-day advance in almost four years, as Samsung Electronics Co. jumped after quarterly profit topped estimates and investors awaited a Bank of Japan decision on monetary policy.

US stocks struggled to add to the longest rally of the year as concern about drug pricing and earnings rekindled biotech selling.

UK stocks advanced, with the FTSE 100 Index capping its biggest five-day rally in almost four years with help from a rebound in shares of Glencore Plc. The benchmark index rose 0.4% after falling as much as 0.7% earlier in the day. Glencore reversed an earlier drop of as much as 7.7% to gain 2.5%, its fourth day of increases after the stock posted its biggest ever advance yesterday.

Headlines

The UK economy is losing its fizz and it might be a while before it gets going enough to spark inflation. Bank of England Governor Mark Carney and his fellow policy makers will publish their assessment of the cooling environment on Thursday, alongside their latest policy decision. A report this week showed services grew at the weakest pace in more than two years, signaling a slowing economy that underlines the case for holding the key rate at a record low.

UK Prime Minister David Cameron will set out changes to planning rules to encourage house builders to deliver more of the homes for young people that his government has promised.

Tesco Plc, reported UK earnings that beat analysts’ estimates as it revamped its business in that market. Operating profit in the UK and Ireland fell 69% to £166 million excluding one-time adjustments in the six months to 29 August.
German industrial production unexpectedly declined in August, signalling that Europe’s largest economy is feeling the effects of a weakening in emerging market demand.

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