Asian markets are following the US and are trading higher after financials out perform in anticipation of the stress tests.
Commodities markets again are having a good time of late, Iron ore and copper are still pushing higher. Spot WTI higher by 0.25% this morning with the next resistance at $45.33. Gold is also edging toward key resistance levels with $1260 in sight.
With the strength in commodities, AUD is one of the best performing currencies overnight AUD/USD is currently higher by 0.20% and yesterday we saw a big sell off in USD/CAD as oil prices started to recover. Since yesterday the DXY has fallen around 1.6%, but it is heading to a big support level of 95.50.
Morning Stories:
Rolls-Royce (LON:RR) has made plans for a new test plant in Derby, making way for its biggest single investment into the UK in more than a decade according to reports.
Rio Tinto (LON:RIO) shareholders have agreed the sale of a suite of Australian coal assets to China-backed Yancoal Australia (AX:YAL) for $2.69 billion, ending a bidding war with commodities trader Glencore (LON:GLEN).
BT (LON:BT) are being investigated for problems with financial audits, with PwC to carry out the audit.
John Wood Group (LON:WG) state H1 performance weaker than anticipated and they are more cautious on FY17 outlook and sees strong H2
FCA going wait for musings from the ESMA first, in regards to CfD providers
Greene King (LON:GNK) report record results, market outperformance and integration completed a year ahead of schedule. Div up 3.6%
DS Smith (LON:SMDS) report solid results, US E coast acquisition, placing 7% equiv re. an acquisition
London Capital Group (LON:LCG) Revenue +50%, GP +86% (2015: £10.51 million), fall in adj EBITDA loss, new clients acquired per month +47% to 493 per month
What to look out for:
Main event today is US GDP, we also have German and Spanish CPI and UK mortgage approvals.