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Investment market update

Early Trading

UK equities are expected to open higher with oil related stocks the main beneficiary following news over the weekend of a reshuffle of the Saudi Arabian government, which saw the exit of long serving energy minister Ali al-Naimi.

World Markets

Japan’s Nikkei 225 rose by 0.8%, tracing last week’s gains in the US. In China, shares fell in response to the disappointing trade data released on Sunday, which showed that both exports and imports fell more than expected last month.

US stocks rose slightly on Friday as the price of oil climbed and investors shook off a poor April jobs report which showed the economy added 160,000 jobs instead of the 200,000 analysts had been expecting. The S&P 500 climbed 0.3%.

UK stocks closed the session flat as weaker than expected US jobs data raised concerns about the state of the world’s biggest economy.

Headlines

German factory orders picked up in March as strong global trade helped offset a lull in domestic demand. Orders, adjusted for seasonal swings and inflation, advanced 1.9% from the prior month, when they fell a revised 0.8%, according to data from the Economy Ministry in Berlin on Monday.

Saudi Arabia will probably keep producing crude at near-record levels under its newly appointed oil minister, Khalid Al-Falih, as the world’s largest exporter sticks with his predecessor’s policy of defending market share against higher cost shale.

New global rules forcing companies to report taxable activities country-by-country publicly have been called for by a group of 300 prominent economists. In a letter to world leaders, the group urges the UK to ‘take a lead’ in the push for more tax transparency.

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