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Investment market update

Early Trading

UK stocks are expected to open flat to slightly lower this morning, taking a lead from the US and Asia where concerns about the health of the global economy continue after the US Federal Reserve opted to keep interest rates at a record low.

World Markets

Asian stocks dropped as concern global growth is faltering spurred investors to sell riskier assets and seek the relative safety of government debt.
US stocks fell, erasing last week’s gain in the S&P 500, as the Federal Reserve’s warnings over the global economic outlook were felt across financial markets. All 10 major groups in the S&P 500 declined, with energy shares declining 2.6%. ConocoPhillips and Schlumberger Ltd. lost more than 3.5% as oil prices fell. Raw-materials, industrial and financial companies lowered more than 1.9%.

UK stocks fell after the Federal Reserve proved reluctant to raise rates amid concern about global economic and market risks. Banks dragged the FTSE 100 lower, as did energy producers. HSBC and Barclays Plc dropping 2.4% or more, while BP Plc and Royal Dutch Shell Plc fell at least 3.5%.

Headlines

Alexis Tsipras and his Coalition of the Radical Left, or Syriza, emerged from a second election in eight months with a level of support barely diminished from the emphatic victory that catapulted him both into power and a standoff with the euro region. Syriza, which took 35.5% of the vote compared with 28.1% for the centre-right New Democracy, will enter a coalition with the same small party that helped it rule before.

Federal Reserve officials argued that an interest-rate increase is still warranted this year, laying out the case for lift-off in remarks over the weekend that counter bets by traders that the central bank will stay on hold until 2016.

London led asking prices for UK homes to an all-time high in September, reflecting a continuing shortage of property for sale and strong demand from wealthy buyers. Values sought in the capital rose 2.2% from August to £620,003 according to property-website operator Rightmove Plc.

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