European markets look set to open higher today as investors keep an eye on the Federal Reserve's monetary policy decision on Wednesday and markets remain apprehensive due to fresh sanctions on Russia.
There are some weighty corporate results expected today: Deutsche Bank, BP, Renault Michelin and Orange are all due to release their numbers.
The Fed's monetary policy meeting begins today, with an announcement due tomorrow.
European leaders (and Barack Obama) announced yesterday that Russian actions in Ukraine would mean another round of financial sanctions yesterday, which will affect the financial, defence and energy sectors. There is expected to be an agreement on the details today.
The FTSE is expected to open five points higher at 6,793, the German Dax 18 higher points at 9,616 and the French CAC is called up two points at 4,347.
Lloyds Banking Group saw its behaviour termed " highly reprehensible" by the Bank of England after it became the first lender to be fined for rate rigging. The fine came in at £226m for the state- backed bank.
BP has released a trading update, showing underlying earnings of $3.64bn in the second quarter and revenue of $93.95bn, beating analyst expectations.
Domino's Pizza Group released its half-yearly report showing profit before tax had increased 10.1 per cent. EBITDA was up 9.4 per cent to £27.8m, slightly below what some analysts were expecting.
Data in focus
- 09.30: UK, June, mortgage approvals