This morning in London: The FTSE 100 is currently up 45 points at 6420.
FX and commodities: GBP/USD is up six pips at $1.5218; EUR/USD is up 15 pips at $1.3024 and USD/JPY is up 37 pips at Y99.49. Oil - Brent Crude is up 18 cents at $102.33 and gold is up $21.50 at $1244.
Stocks: BP goes back to the courts to renegotiate its earlier agreement for compensation relating to the Gulf of Mexico disaster, following a raft of opportunistic claims. UK homebuilder Bovis Homes’ first-half sales jumped by 26%. Rumours over the weekend that the Singapore state-owned investment vehicle Temasek are looking to acquire a stake in Lloyds Banking Group have been quashed.
Latest news: Alcoa’s update later today marks the start of the US reporting season, allowing traders and investors an opportunity to refocus away from macro issues and instead on company numbers. It will be interesting to see if the marginally improving US economic data can be backed up.
The FTSE 100 will be opening with a spring in its step as after a sporting weekend to remember as both the British & Irish Lions and Andy Murray rewrote the history books, and coupled with a prolonged period of sunshine, optimism is high.
The day ahead: The latest Eurogroup meeting begins today, along with the start of negotiations between the EU and the US for a free trade agreement. ECB president Mario Draghi is scheduled to speak just before the US open. All figures as at 8am (London time).