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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 higher this morning, following on from overnight gains in the US and Asia.

World Markets

Asian markets closed higher as cheaper oil boosted airlines and shippers. Japan Airlines Co. added 2.6% and Mitsui O.S.K. Lines Ltd climbed 4.4% on the outlook for lower fuel costs.

US stocks were little changed, after the Standard & Poor’s 500 Index briefly climbed above its previous closing record, as better-than-forecast corporate results offset a slump in commodities producers. Hasbro Inc. jumped 6.3% on better-than-estimated earnings.

UK stocks rose, following a two-week rally, as concern over Greece’s debt crisis faded. HSBC Holdings Plc rose 1.1% after Citigroup Inc. recommended buying the shares. Standard Chartered also rose 1.1% after announcing a restructure at board level.

Headlines

West Texas Intermediate oil fell below $50 a barrel and gold traded near a five-year low after a selloff that’s seen commodities fall to the lowest in 13 years. The US dollar held near a three-month high against the euro.

China’s stocks headed for their longest stretch of gains in almost two months, amid speculation the government’s market-support measures have tempered price swings as smaller companies extended a bull-market rally.

Morgan Stanley reported profit that beat analysts’ estimates as a jump in trading and brokerage fees led to the biggest revenue increase among the six largest US banks.

Novartis AG, the world’s biggest drugmaker by sales, reported a 7% decline in second-quarter earnings after the strength of the US dollar eroded sales. Novartis reiterated its full-year forecast for core operating income to grow by a high-single digit percentage and sales to expand at a mid-single digit rate.

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