This morning in London: The FTSE 100 is up 70 points at 6575.
Latest news: Last night’s Federal Open Market Committee (FOMC) minutes or an astonishing 14 wickets on the first day of the Ashes Test match; traders will be as undecided over which topic to discuss first as the 19 members of the FOMC seem to be over the starting date for cutting the current quantitative easing process.
Once again we will see a raft of US and European equities reporting quarterly figures, and with the background of some very impressive indices levels, equities should do well.
Stocks: Balfour Beatty has confirmed that the government’s home buying scheme and the Bank of England’s desire to keep the base rate unchanged for an extended period have conspired to create a better-looking second half of 2013. Clothes retailer SuperGroup has beaten its full-year targets with a pre-tax profit of £52.2 million, up 22%. Moneysupermarket.com’s first-half profit was in line with expectations.
The day ahead: The ECB monthly bulletin is due at 9am, with US unemployment claims at 1.30pm followed by the Federal budget balance at 7pm (all London times). All figures as at 8.30am (London time).