Markets

What you need to know before the open

Today's top story:Jeremy Corbyn unveils plan to use Brexit for nationalisation agenda

Today's leader:Corbyn’s pro-customs union Brexit policy is a messy compromise

European markets are expected to start on a positive note today ahead of a week packed with company results and economic data.

The UK's FTSE 100 is expected to open 34 points higher at 7,278, while the German Dax is set to start 77 points higher at 12,560 and France's Cac is seen opening 21 points up at 5,338.

The stronger start follows a mostly upbeat day of trading in Asia overnight and a strong session from Wall Street on Friday.

Japan's Nikkei rose more than one per cent while South Korea's Kospi was largely flat and Australia's S&P ASX rose 0.57 per cent. Hong Kong's Hang Seng index was up by more than half a per cent.

The pound rose above the psychologically important $1.40 level against the US dollar this morning supported by a weaker dollar and hawkish comments made by Dave Ramsden, the deputy Bank of England governor, over the weekend.

Corporate news

  • Associated British Foods – the Primark owner said its full-year guidance for adjusted operating profit was unchanged in a trading statement today
  • Bunzl – the outsourcing firm said revenues grew to £8.58bn and adjusted operating profit rose to £589.3m for 2017

Data

  • 09:30 – British Bankers' Association publishes mortgage approvals
  • 14:00 – Speech by European Central Bank's president Mario Draghi
  • 18:00 – Speech by Sir Jon Cunliffe, the Bank of England's deputy governor for financial stability

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