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.
UK equities are expected to open marginally higher, as Greece re-opens its banks although several restrictions remain in place, including a block on money transfers abroad.
Asian markets started the week largely unchanged on Monday, while Tokyo was closed for a public holiday.
The Shanghai Composite has rebounded 13% since July 8, following a month-long fall that wiped out almost $4 trillion paring strong gains seen earlier in the year.
US stocks rose, with the Nasdaq closing at a record high for a second consecutive day after shares in Google surged following its latest results.
Google shares jumped 16% to $697.64 after it reported a 17% rise in second quarter profits to $3.93bn.
UK stocks fell from their highest level in almost a month, led by declines in commodity shares and drug makers, after Bank of England Governor Mark Carney said the end of record-low interest rates is in sight.
Marks & Spencer Group Plc lost 1.1% after the clothing head John Dixon unexpectedly resigned from the UK retailer.
ARM Holdings Plc added 1.5% after Investec Plc recommended buying the shares.
Greek banks are reopening today after three weeks of closures sparked by the deadlock over the country’s debt. Athens reached a cash-for-reforms deal aimed at avoiding a debt default and an exit from the eurozone.
Ikea will become the first national retailer in the UK to pay its staff above the new National Living Wage from next year. Ikea said it would pay all its 9,000 UK workers at least £7.85 an hour from April 2016.
First-time home buyers in London are getting increasingly squeezed out of the market as prices soar while demand shows no sign of abating, according to a survey by Rightmove Plc.