Investment market update
UK stocks are expected to open flat this morning as nerves are a little steadier after a roller coaster start to the year.
UK, US and Asian stocks made gains as global markets were lifted by hopes of more stimulus action from central banks. Markets have also been encouraged by a recovery in oil prices, which had hit 12-year lows last week. The rise in oil prices lifted shares in energy-related firms in London. Royal Dutch Shell was up 5.2% and BG Group climbed 5%.
Apple is set to beat its own record for the most profitable quarter in US corporate history when it reports earnings on Tuesday. Net income is expected to hit $18.2bn, 1% above the record it set a year ago.
Airbnb is pinning its hopes on China’s booming $120bn tourism industry as the Silicon Valley accommodation-rental service aims to become profitable for the first time this year.
Nathan Blecharczyk, the company’s co-founder and chief technology officer, is focusing on China after demand in the country for its services rose eightfold last year.
Adidas, the International Association of Athletics Federations (IAAF) biggest sponsor, has told athletics’ world governing body it is to terminate their sponsorship deal four years early. The sportswear company informed the IAAF of its decision last week, which is understood to be a direct result of the doping scandal sweeping the sport.