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Shares, stocks and corporate news: What you need to know before the open

Oliver Gill
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Today's top story: City of London braced for £2bn business rate hike

Today's leader: From server rooms to boardrooms: Cyber crime must be priority for UK bosses

Europe's stocks are expected to be on the rise this morning after Japanese markets bounced back from this week's earlier losses and oil prices steadied after yesterday evening's dramatic gains.

Analysts at CMC said they expected a near-one per cent market rise when Europe opens. The FTSE 100 is expected to open 61 points higher at 6,910 with the German DAX up 92 points at 10,530 and the French CAC up 50 points at 4,482.

Oil prices took a breath overnight. After gaining 5.9 per cent yesterday, Brent crude relaxed down 0.4 per cent to $48.50.

The effect of Opec reaching an agreement last night was palpable on Japanese markets. The Nikkei jumped 1.5 per cent – clawing back the losses it incurred the previous day – with energy stocks among the biggest gainers.

Other Japanese stocks benefitted from the yen falling back and boosting exporter's hopes. The Japanese currency is often seen as the place to keep you money during times of uncertainty over riskier assets.

The dollar made ground against the yen, increasing by 0.7 per cent to 101.38 after a one-month low yesterday.

The rest of Asia also was in positive territory – the MSCI Asia-Pacific excluding Japan was up 0.9 per cent.

Corporate news​

  • Samsung – have confirmed that it is in talks with US authorities regarding problems with some of its washing machines
  • Volkswagen – boss Matthias Mueller said he expects to agree a deal with US authorities over 'dieselgate' allegations by the end of the year
  • Facebook, Google and Amazon – have clubbed together to establish best practices in relation to AI
  • Blackberry – is planning to ditch producing mobile phones in favour of developing software

Data

  • 7.35 – Speech by Haruhiko Kuroda Governor of Bank of Japan
  • 8.55 – German employment statistics
  • 9.30 – August UK mortgage approvals
  • 10.00 – European economic confidence (consumer, services, industrial and business)
  • 13.00 – German inflation reading
  • 13.30 – US jobless claims (September)
  • 13.30 – US Q2 GDP
  • 21.00 – Janet Yellen speech

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