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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 marginally lower, giving up some of yesterday’s gains, as Greece is likely to remain in focus and with no major macroeconomic and corporate releases due out this morning.

World Markets

Asian stocks took a breather, with optimism over Greece and China fuelling their best week since April.

US stocks rose, with the S&P 500 nearing an all-time high, after Greek lawmakers passed a bailout agreement.

UK stocks rallied to the highest in almost a month, spurred by the European Central Bank’s renewed pledge to stimulate the region’s economy and the increased likelihood of an end to Greece’s debt crisis.

Headlines

Bank of England Governor Mark Carney said the end of record low interest rates is in sight and the time for such a move will become much clearer by the end of the year. “The decision as to when to start such a process of adjustment will likely come into sharper relief around the turn of this year,” Carney said in a speech yesterday in Lincoln. “The need for bank rate to rise reflects the momentum in the economy and a gradual firming of underlying inflationary pressures”.

German lawmakers have their say on Greece’s next bailout today after European Central Bank President Mario Draghi said he views the country’s place in the euro as secure. As Europe seeks to line up a three year aid package worth as much as 86 billion euros, the lower-house vote is a renewed test of Chancellor Angela Merkel’s struggle to persuade Germans that Greece is still worth helping.

Stocks

Shire Plc rose 1.1% after Berenberg said the drug maker’s 2020 sales target is more than achievable.

BP Plc retreated 1.2% after Goldman Sachs Group Inc. said the current dividend is not sustainable in the long term.

Dixons Carphone rose 1.45% higher after the electrical retailer said strong TV sales had helped it boost profits by 21%.

Netflix Inc. jumped 18% after reporting a bigger-than-estimated surge in subscribers.

Google Inc. climbed 10% in after-market trading on better-than-expected earnings and a slowdown in spending.

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