What you need to know before the open

Today's top story: Elon Musk says a private Tesla would be an 'enormous opportunity'

Today's leader: London is starting to fix its housing crisis – but there's still a way to go

Tesla shares jumped 11 per cent after boss Elon Musk tweeted that he was thinking about taking the tech company private.

Wall Street stocks climbed yesterday, with the S&P 500 index gaining 0.29 per cent to stand at 2,858, only 14 points off its record high which it reached in January.

An encouraging second-quarter earnings season has boosted confidence in the US economy, as S&P 500 firms saw profits rise 23.5 per cent in the second quarter, according to Thomson Reuters.

Asian shares continued to recover boosted by decent US earnings – MSCI's index of Asia-Pacific shares outside Japan rose 0.3 per cent, while Japan's Nikkei gained 0.4 per cent.

European markets will begin the day largely flat. The FTSE 100 will open 0.1 per cent up at 7,727, while the German Dax will gain 0.06 per cent to open at 12,656 and France's Cac will open 0.04 per cent down at 5,519, according to IG Squawk.

​Corporate news

  • Paddy Power – said profits crept up four per cent in the first half
  • Majestic Wine – holds its annual meeting today
  • Fox – late yesterday posted its offer document for its 14 pound a share offer for Sky


  • 13.45 – US Federal Open Market Committee member Thomas Barkin speech
  • 00.01 – UK RICS Housing Price Balance (July)

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