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GRAMGood Morning. The FTSE 100 is projected to open higher as the UK prepares for the prospect of tighter coronavirus restrictions. Markets drifted overnight as the US dollar rose to a two-month high on lingering concerns about the global economic recovery.
5 things to start the day
1) The Government is under increasing pressure to support companies affected by the new coronavirus restrictions.
2) Michael Gove, the Cabinet Office minister, warned that up to 7,000 trucks could face two-day queues in Dover after Brexit.
3) Dublin’s pubs, many of which remain closed even after the longest closure in Europe, complain of a “lack of trust” from the authorities.
4) Tesla promises a $ 25,000 car in three years: Elon Musk says there is no long-term future for internal combustion engine cars.
5) Chad Rigetti, the man behind the UK’s first quantum computer, in his hopes that reality can finally match the hype
What happened overnight
Asian markets were mostly lower on Wednesday, as investors were on the lookout for how the coronavirus pandemic will affect the economic outlook.
Shares fell on Wednesday in Japan, Hong Kong and Seoul, but rose in Sydney after the government reported that retail sales were better than expected.
Tokyo’s Nikkei 225 fell 0.6 percent to 23,220.33, reopening after a four-day weekend, while Hong Kong’s Hang Seng was down 0.1 percent to 23,700.69. South Korea’s Kospi sank 0.8% to 2,313.86. Stocks fell in Thailand, Singapore and Taiwan, but rose in Jakarta.
The Shanghai Composite Index rose 0.1 percent to 3,275.87. Australia’s S & P / ASX 200 jumped 1.5 percent to 5,871.90 after the government said retail sales fell 4.2 percent from the previous month in August, far less than the forecast for the US. 11 percent, Marcel Thieliant of Capital Economics said in a comment.
Going up today
- Provisional results: Staffline, Ten Entertainment
- Whole year: PZ Cussons
- Commercial declaration: Halma, SSP Group
- Economic Sciences: Flash PMI (UK, Japan, Eurozone, US); Final reading of GDP for the second quarter (Spain)
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