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Investment market update

Early Trading

UK stocks are expected to start the week positively, ignoring a volatile trading session in Asia overnight in which both the Australian and Japanese markets pared early losses.

World Markets

Asian stocks were in mixed territory, though Japanese stocks rose after a US payrolls report that supported the Federal Reserve’s case to raise interest rates, sending the dollar higher against the yen. This boosts the outlook for Japanese exporters which form a large part of the Japanese market.

US stocks fell as disappointing earnings sent consumer and technology shares lower. Declines were seen in the likes of Netflix Inc. and Amazon Inc. as quarterly results were below expectations and both fell more than 6% for the trading session.

UK and European stocks closed lower on Friday in volatile trading as investors assessed corporate earnings, oil prices declined, and US payroll data fuelled speculation of interest rate rises by the Federal Reserve. BNP Paribas SA helped limit falls on a gauge of European lenders, rising 1.5% after announcing a revamp of its investment bank.


Bosses of construction companies including Laing O’Rourke and Balfour Beatty urged the government to clear plans to expand Heathrow airport, the Sunday Telegraph reported, citing a letter to the Chancellor of the Exchequer George Osborne. The letter describes how the project would allow companies to invest in skilled jobs and new construction techniques that would benefit UK developers.

UK Prime Minister David Cameron and European Parliament President Martin Schulz are at odds over whether a renegotiation of Britain’s European Union membership could be reversed, while a poll of Britons found 45% would vote to leave the EU in a future referendum. Schulz, speaking in an interview on Sky News, said that “legally binding decisions are also reversible — nothing is irreversible.” Cameron, speaking at a press conference in Copenhagen on Friday after Schulz spoke, said Britain would have to agree to reverse any deal signed by all 28 EU nations, and he vowed that the UK would never do so.

The UK Foreign Secretary Philip Hammond condemned North Korea’s launch of a long-range rocket Sunday, saying the isolated nation’s actions threaten regional and international security. The test is a “clear and deliberate” violation of United Nations Security Council Resolutions and the UK will now meet with partners in New York to agree a collective response, Hammond said in an e-mailed statement.

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