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Investment market update

Early Trading

UK stocks are expected to open higher this morning, encouraged by a strong finish in the US.

World Markets

UK stocks fell 1.3% at the close of trading erasing an earlier rise. Shares in Rolls-Royce slipped 2.6% after the FT reported nationalising its nuclear submarine business was being considered by the government.

US stocks rose, surging in the final minutes of trading as a rebound in WTI crude oil overshadowed credit market turbulence and weakness in commodity shares before the Federal Reserve prepares to raise interest rates.

Asian stocks fell amid concern over turbulence in the credit markets as the Federal Reserve prepares to raise US interest rates. Energy shares rose for the first time in 10 days after WTI crude oil rebounded.

Headlines

Volkswagen AG suffered its biggest decline in monthly European market share since the German carmaker’s emissions-manipulation scandal emerged in September. With buyers opting for vehicles from Ford Motor Co., Daimler AG and Fiat Chrysler Automobiles NV, Volkswagen accounted for 24.5% of European new-car registrations in November, down from 26.8% a year earlier.

Mario Draghi has insisted that additional monetary stimulus is still on the table and the European Central Bank stands ready to act should a strong recovery continue to elude the eurozone’s fragile economy. The comments are the latest by Mr Draghi to counter the fall in financial markets that followed the ECB’s decision on December 3.

Royal Dutch Shell moved to strengthen shareholder support for its proposed takeover of BG Group after Chinese regulators on Monday gave the deal their approval. Shares in BG fell 0.7% yesterday, and are about 10% lower than the price outlined by Shell in its cash-and-stock bid, partly reflecting some concern that shareholders might not approve the deal. The takeover requires the support of a majority of Shell shareholders and 75% of those at BG.

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