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Investment market update

This bulletin provides you with an overview of the latest market news from around the world – world markets, key headlines, stocks and market data.

Early Trading

UK equities are expected to open little changed this morning, consolidating gains made in the previous two sessions as investors await signs of any more concrete developments in talks over Greece’s debt problems.

World Markets

Asian stocks climbed as Japan’s Nikkei 225 closed at its highest point since 1996, as gains by shippers and brokerages pushed the equity measure through its dot-com era peak.

US stocks rose, with the S&P 500 Index near a record, as investors weighed economic data for clues on the timing of higher interest rates amid optimism that a deal on Greek aid is within reach.

UK stocks advanced after three days of rallies for the FTSE 100 Index, amid optimism that Greece will reach a deal with its creditors.

Headlines

European finance ministers will meet for the third time in a week today to try to secure an agreement to avert a default in Greece. With a week to go before the country’s bailout expires, a deal appeared within reach after Greek Prime Minister Alexis Tsipras signalled he was ready to end a bitter five-month standoff and reach agreement with creditors to unlock aid.

The US federal probe that ended last month with guilty pleas and $6 billion in fines from global banks began with an open secret — that currency traders there could talk to each other to coordinate trades. Now, the Justice Department unit behind those prosecutions is turning its sights on the $12.7 trillion US Treasury market.

Senior bankers found guilty of misconduct by regulators could be forced to pay back bonuses as long as 10 years after they were awarded under new Bank of England rules. The BOE said that it would also seek public input on curbing so-called buyout arrangements whereby a new employer compensates bankers for bonuses they were in line to receive had they stayed in their old job. The BOE said the measures would promote better conduct in financial institutions.

Stocks

Sports Direct International Plc posted the biggest gain the benchmark, up 3%, after RBC Capital Markets raised its rating on the retailer.

Shares in Ladbrokes jumped 14.6% after it said it was in merger talks with Gala Coral.

Johnson Matthey Plc rose 2.4% after Citigroup Inc. raised the stock to buy.

Bunzl Plc lost 2.1%, the most since April, after saying slower growth in North America will weigh on growth in the first half.

AT&T jumped 2.5% to its highest in almost 11 months after Barclays Plc upgraded the shares to overweight, and UBS AG raised to buy from neutral.

Green Dot soared 41%, the most ever, after the issuer of reloadable prepaid debit cards reached a new five-year deal with Wal-Mart and authorizing a $150 million stock buyback. Shares had fallen 25% this year through Monday.

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