What you need to know before the open

Today's top story: Sainsbury's boss Mike Coupe apologises for singing "we're in the money" as concerns grow over Asda merger

Today's leader: Sajid Javid should develop an immigration system fit for 21st century, post-Brexit Britain

President Donald Trump has extended negotiations on steel and aluminium tariffs for 30 days with Canada, Mexico and the EU, as a number of markets across the world close for Labour Day.

Tech giant Apple will release its results after the bell, with analysts expecting slow sales of the iPhoneX to hit profits.

Lower volumes in the Russian market along with negative currency effects have hit beer-maker Carlsberg as first quarter sales declined by five per cent.

In Europe, it's expected to be a slow start to the day, as Germany's Dax and France's Cac are closed. The FTSE is expected to open seven points higher at 7,516, according to LCG.

Continuing uncertainty around the US and China's trade dispute hit Asian markets. Japan's Nikkei dropped 0.1 per cent, as Australian shares hit their highest level since mid-March, going up 0.6 per cent.

MSCI's dollar-denominated index of Asia-Pacific shares outside Japan dipped 0.1 per cent, although only Australian and New Zealand markets are open.

Corporate news

  • BP – the oil and gas firm will release first quarter results, alongside takeaway firm Just Eat
  • Virgin Money – will release results this morning
  • Barclays – the bank is holding its AGM
  • Boeing – the plane maker is buying aerospace parts company KLX for around $3.2bn


  • 9.30 – UK mortgage approvals (March)
  • 9.30 – UK Markit Manufacturing PMI (April)
  • 15.00 – US ISM Manufacturing PMI (April)

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