FTSE to fall as markets wobble – live updates

Morgan Meaker
·2 min read
Bank station
Bank station

06:30 AM

Markets fall

Good morning. The FTSE looks set to follow Asian markets lower this morning after hawkish comments from the US Federal Reserve last week.

5 things to start your day

1) Shock £5.5bn Morrisons offer set to spark bidding war: Amazon and private equity expected to circle grocer after it rejected approach from US firm advised by former Tesco boss.

2) City keeps financial services crown - but France closes in: London remains Europe's most popular destination for foreign direct investment despite largest drop in a decade.

3) JLR backs car payments app set to rip up paper forms: Carmaker plans to integrate Caura's app into infotainment systems to allow drivers to pay MOT, car tax and congestion charges.

4) UK's tough travel rules risk rise in eurozone unemployment: At least half a million jobs will go as region's support schemes end, with 'Club Med' countries left off UK's green list.

5) Facebook warns junk food ad ban 'will hurt small business': Social media giant warns outlawing online ads for unhealthy food would 'severely impact' UK's bakeries and coffee shops.

What happened overnight

Asian markets skidded on Monday, with Japan's Nikkei 225 index down 3.4pc, after a sell-off Friday on Wall Street gave the S&P 500 its worst weekly loss since February.

The Nikkei gave up 983 points to 27,980.87 and the Kospi in Seoul lost 1.3pc to 3,227.92. Hong Kong's Hang Seng index also lost 1.3pc, to 28,427.13. Australia's S&P/ASX 200 declined 1.7pc to 7,243.50 and the Shanghai Composite index declined 0.3pc, to 3,514.61.

Coming up today

  • Corporate: (Full-year results) Brandshield Systems, SysGroup; (Interims) Scottish Investment Trust