Good morning. The FTSE 100 is set to open a shade lower despite Asian markets being lifted by strong trade data from China.
China’s exports grew much faster than expected in June, as solid global demand led by easing lockdown measures and vaccination drives worldwide eclipsed virus outbreaks and port delays.
5 things to start your dayÂ
1)Â Apple moves record Â£720m from UK to Ireland: iPhone maker pays dividends from its three UK-headquartered businesses to its Irish holding company.
2)Â Shiver through the winter to fight global warming, warns grid operator: Cutting thermostat settings by one degree centigrade could reduce demand for heating by 13pc, helping to reach carbon neutral goals.
3)Â Lagarde poised to extend eurozone life support as delta variant takes hold: Pandemic support could continue beyond next March as leaders face up to faltering vaccination programmes.
4)Â Musk says he ‘hates’ running Tesla as he defends $2.6bn SolarCity deal in court: Tesla shareholders have accused the billionaire of using the electric car maker to bail out a solar power firm set up by his cousins.
5)Â Biden’s tax plans risk bursting Ireland’s bubble: After years of luring the world’s biggest firms with the promise of low tax, the Irish economy will soon be heading for uncharted territory.
What happened overnightÂ
Asian stocks followed Wall Street higher on Tuesday ahead of USÂ earnings reports that are expected to show strong profits for major banks.
Shanghai, Tokyo, Hong Kong and Sydney advanced.
The Shanghai Composite Index rose 0.3pcÂ to 3,559.96 and the Nikkei 225 in Tokyo gained 0.8pcÂ to 28,807.95. The Hang Seng in Hong Kong added 1.8pcÂ to 27,999.08.
The Kospi in Seoul advanced 0.7pcÂ to 3,270.89 and Sydney’s S&P-ASX 200 was 0.4pcÂ higher at 7,361.90.
New Zealand and Singapore gained while Bangkok and Jakarta retreated.
Coming up today
- Corporate: Kier, City of London Group (Trading update)
- Economics: BRC retail sales update (UK), retail sales, consumer price index (US), trade balance (China)Â