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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 slightly higher this morning as investors continue to watch the situation in Greece.

World Markets

All major stock markets advanced after Greece struck a deal with its creditors on reforms needed to win a fresh bailout and stay in the euro.

Headlines

Greek Prime Minister Alexis Tsipras is facing a tough battle to win support from coalition partners for the third bailout offered by eurozone leaders. Four pieces of legislation must be passed by the end of Wednesday including pension and VAT reforms. If the deal fails, Greece’s banks face collapse and the country could then be forced to leave the euro. The bailout is conditional on Greece passing all the agreed reforms – including raising tax revenue and liberalising the labour market – in parliament by Wednesday. Finance ministers from all 28 EU countries are holding a scheduled meeting in Brussels on Tuesday morning, where they will discuss the situation in Greece.

UK companies with more than 250 employees will be required to publish the difference in men and women’s average pay under proposed regulations published Tuesday. Prime Minister David Cameron will start a consultation process on the details of the new rules, which were outlined after his government pledged last week to increase minimum pay for workers over 25 to £9 an hour by 2020. “We will make every single company with 250 employees or more publish the gap between average female earnings and average male earnings,” Cameron said in extracts from an article written for the London-based Times newspaper released by his office. “That will cast sunlight on the discrepancies and create the pressure we need for change, driving women’s wages up.”

Stocks

IAG SA rose 3.4% after UBS Group AG recommended buying the shares, citing valuation and potential for growth.

Alent Plc soared 44% after Platform Specialty Products Corp. agreed to buy the chemical maker.

Shares of Sony were down 2% after the electronics company announced its first new share offering in 26 years. The move is intended to raise the capital for a larger restructuring program to push the business towards image sensors and video games.

Index heavyweights BHP Billiton and Rio Tinto in Australia were up over 3% on expectations of good earnings reports next month.

Apple Inc. climbed 1.9%, while Google and Yahoo! Inc. rallied at least 2.2% to help pace technology’s rise.

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