Before the open - 25/06

After the FTSE hit five month-lows yesterday, falling1.42 per cent to a fresh five and a half-year low of 6,029.1. Government borrowing costs increased to an eight-month high – yields on 10-year gilts rose to 2.53 per cent, their highest since October 2012.

Asian shares struggled overnight, with Chinese stocks extending losses to over 10 per cent. Investors are worried by squeezed liquidity, and many were panicked by reports of cash outages.

Today's key events:

  • Mortgage data for the UK in the form of BBA mortgage approvals at 09.30. Approvals are expected to have risen from 32,200 to 33,100 in May.
  • Some afternoon US data with durable goods order at 13.30, housing price numbers at 14.00 and consumer confidence at 15.00.