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Investment market update

Early Trading

UK equities are expected to open lower this morning, following the release of minutes from the latest US Federal Reserve meeting which extended uncertainty over when interest rates would be raised.

World Markets

US and Asian markets fell on continued concerns over China and the global economy and the uncertainty surrounding when the US Federal Reserve will raise interest rates.

In the US, Target Corp. rose 0.7%, paring an earlier rally of 5.4%. While second-quarter earnings beat estimates, the retailer said on a conference call that it’s having difficulties with items being out of stock.

In the UK, Glencore fell 9.7% after it reported a half-year loss of £431m, blaming falling oil and metal prices. BP fell 1.7% while Royal Dutch Shell dropped 2% due to falling oil prices.

Headlines

Federal Reserve officials signalled concern about stubbornly low inflation even as they indicated that an improving job market is bringing them closer to the first interest-rate increase in almost a decade.

BHP Billiton Ltd. and Glencore Plc led declines among global mining companies as commodity prices fell on heightened concern of a sharp slowdown in China.

Kazakhstan’s tenge fell a record 23% after the country relinquished control of its exchange rate, becoming the latest emerging market to abandon efforts to prop up its currency before the US raises interest rates.

The UK and France are to set up a joint command centre with police and border officials from both countries in a bid to stop illegal migrants trying to enter Britain through the Channel Tunnel.

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