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Investment market update

Early Trading

UK equities are expected to open slightly lower this morning amid concerns over Apple in the US. Attention should be on the banking sector again today as Standard Chartered are due to report their latest earnings.

World Markets

Asian stocks rose, led by Japan, as companies from Terumo Corp. to Kajima Corp. reported gains in earnings. Medical device maker Terumo surged 13% after saying profit jumped and it will buy back shares.

US stocks declined for a third day, amid disappointing results from Allstate Corp. and CVS Health Corp. while Apple Inc. slipped further into a correction by falling 3.2%. Energy companies in the S&P 500 fell, even as oil prices in the US rebounded from their lowest since March.
UK stocks were little changed amid deal activity, as losses in banks offset gains in commodity shares. Barclays Plc led banks lower on Tuesday, falling 2.1%. BHP Billiton Ltd. and Rio Tinto Group, the world’s biggest miners, rose at least 1.5% as copper climbed.

Headlines

Prime Minister David Cameron’s government opened a consultation on plans to allow stores in England and Wales to stay open for longer on Sundays. As part of a move to give cities more control over their economies, the government is asking companies and shoppers whether the power to extend Sunday trading hours should be handed to local leaders such as mayors through individual “devolution deals”, or whether all local authorities should have the discretion to do so. The consultation closes on 16 September.

According to the National Institute of Economic and Social Research, the rebound in Quarter 2 GDP confirms weakness in the UK economy at the start of the year was merely temporary, it says in its quarterly review published Wednesday. The slight increase in unemployment rate through to May should also prove temporary, and they predict will be reversed in coming quarters. NIESR also believe that the Bank of England will increase the headline interest rate in early 2016.

Societe Generale SA, France’s second-largest bank by market value, reported the highest profit since the financial crisis on a surge in equities revenue and announced plans for fresh cost cuts. Quarterly earnings were the highest in eight years and surpassed the estimate of analysts.

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