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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 flat this morning as wary investors react to EU chiefs ruling out any further talks until Greece has held its referendum on Sunday.

World Markets

Asia stocks rose, led by Japan, as the dollar maintained gains against the yen before US jobs data, while Japanese government bonds fell.

US stocks rose amid optimism Greece will forge a solution to its debt crisis and investors awaited jobs data that may show the labor market is strengthening.

UK & European stocks rebounded as investors watched Greece for signs of compromise after the Mediterranean nation missed its payment to the International Monetary Fund.

Headlines

Greek Prime Minister Alexis Tsipras and creditors sparred heading into Sunday’s referendum on austerity as a poll suggested voters are inclined to accept deeper cuts. As rationing of pensions began in the first week of capital controls, a survey showed more Greeks going against the government’s call to vote against creditors’ terms for more aid.

The European Central Bank maintained its emergency support for Greek lenders, signalling it’s willing to give the country time for a referendum on the terms of a bailout program. The Governing Council, meeting in Frankfurt on Wednesday, left the cap on Emergency Liquidity Assistance unchanged, an ECB spokesman said.

As China’s stock market declines spurs margin traders to unwind record bullish bets, authorities have responded with a policy that analysts say could exacerbate the problem: make it easier to take on even more leverage.

UK house prices fell the most in nine months in June as the market continued a “gradual” slowdown, Nationwide Building Society said.

Stocks

Tullow Oil Plc advanced 1.8% after it raised this year’s production forecast following a strong performance from the company’s largest field in Ghana.

Serco Group Plc jumped 11% after saying that trading in the year to date has been better than anticipated.

Sirius Minerals Plc soared 68% after the North York Moors National Park gave the company the green light to build a $3 billion potash mine.

UK equities are expected to open slightly lower, with attention turning to George Osborne’s annual Mansion House speech and his plans for the UK economy.

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