Thursday 29 May 2014 2:44 am | Updated: Wednesday 29 May 2019 9:44 pm

What you need to know before the open

European markets are expected up this morning, with the focus on the latest first quarter GDP number from the US.

Bond prices continued to rise yesterday – in peripheral as well as UK and German ones – with the market still firmly decoupled from equities.

Data-wise, things are quiet in Europe, with the significant numbers coming in over in the US. Markets there closed slightly lower yesterday, for the first time in four days.

Over in Asia, the Nikkei followed US counterparts, snapping a five-day streak.

Corporate news

Aggreko, the temporary power hire company, has confirmed it’s appointed Centrica managing director Chris Weston as its new chief executive officer.

Tesco’s confirmed it has completed the formation of its joint venture with China Resources Enterprise (CRE).

Severn Trent has reported a 7.1 per cent rise in underlying profit before tax, to £269.1m, but warns that it faces risks from negative customer perception and the intense legal and regulatory environment.

Tate and Lyle has said its full-year profits will be “slightly lower” year-on-year as its waning Splenda business continues to offset growth elsewhere.

And B&Q owner Kingfisher has announced a £100m special dividend after its like-for-like sales in the first quarter jumped 9.7 per cent at B&Q to £1bn, and £192m at Screwfix.

Speaking on Radio 4’s Today programme today, chief executive Sir Ian Cheshire said Help to Buy has had a “confidence impact” in the UK, but this has been overplayed by the media.

Data in focus