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Investment market update

Early Trading

UK stocks are expected to open lower this morning following falls in Asia overnight amid weaker commodities.

World Markets

Most Asian stocks fell after a sell-off in commodity prices sent equities toward the biggest weekly fall in three months.

US stocks rose to halt a three day slide, as energy shares climbed for a second session from their lowest level since September and airlines led transportation companies off a three month low.

UK stocks fell extending a sixth day of losses for the FTSE 100 Index. Old Mutual Plc, which gets 71% of revenue from southern Africa, slid 11% as the rand weakened after the country’s President fired the Finance Minister. Glencore Plc jumped 7% after expanding its debt reduction plan, leading gains in commodity producers.

Headlines

UK interest rates have been left unchanged again at 0.5% by the Bank of England’s rate-setters. The nine rate-setters on the Monetary Policy Committee (MPC) voted 8-1 for no change, predicting that inflation would stay below 1% until the second half of next year.

A decision on whether to build a third runway at Heathrow Airport has been delayed until at least next summer, the government has confirmed. Transport Secretary Patrick McLoughlin said further research on the environmental impact was needed.

The UK’s trade deficit – the difference between the amount it imports and exports – widened considerably in October, according to official figures. The monthly deficit was £4.14bn, up from £1.07bn in September, the Office for National Statistics (ONS) said.

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