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Investment Market Update

Early trading

UK stocks are expected to open lower, following a mixed session in Asia.

Asia – Asian stocks are mixed even though a rally on Wall Street saw US stock indices enter record territory.

US – US stocks advanced, with the major equity indexes heading towards fresh all-time highs, amid deal activity and as crude oil extended gains to boost commodity producers.

UK – UK stocks trading at their highest levels in more than a year, climbed for an eighth day, while a gauge of smaller companies extended a record high.

Headlines

  • Japan’s economy grew at a weaker-than-expected rate in the second quarter despite an aggressive spending policy by the government. Gross domestic product grew at an annualised rate of 0.2% in the three months to June, below market forecasts for 0.7% and a marked slowdown from the 2% rate in the first quarter.
  • High street retailer Sports Direct has agreed to make an estimated £1m in back payments to employees after its billionaire founder Mike Ashley admitted that workers had been paid less than the legal minimum wage.

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