Reports that a deal for TikTok in the US is about to close has also been welcomed by investors, while UK chipmaker Arm could be sold to US company Nvidia as its owner SoftBank seeks to monetize the company he bought in 2016.
5 things to start your day
1) Government ministers are planning to intervene in the $ 40 billion buyout of Arm by US chipmaker Nvidia, which could be announced as early as this morning. Ministers ask for assurances on Arm’s headquarters and employment in Cambridge. The UK chip company is for sale through Japanese parent company SoftBank.
2) Oracle beats Microsoft in the race for US TikTok activities. The database giant won the tender to save TikTok from Donald Trump’s wrath, according to several US reports.
3) Renewable energy is growing faster than any other fuel in history, according to BP. The oil titan will have admitted that renewable energy now exceeds competing energy sources.
4) New Look will today plead homeowners to support a bailout deal in a close CVA vote. It comes as his rival Boohoo is about to pounce on the street clothes store.
5) Economists warn UK job losses could reach 700,000 as new data shows the country is heading for the highest level of layoffs since the 1990s, as the leave program ends. The loss of jobs like M&S, John Lewis and Pizza Express may just be the tip of the iceberg.
What happened during the night
Asian stocks rose on Monday and US futures rose amid a wave of trading activity and signs of progress towards a vaccine. The dollar and Treasuries were little changed before the Federal Reserve meeting this week.
South Korea led modest regional gains with a lead of around 1 pc. S&P 500 futures rose about 1 pc. Comments from the CEO of Pfizer Inc. on the likely rollout of a vaccine against the virus to Americans later this year have fueled sentiment, as have reports that a deal for TikTok in the United States is on track. conclusion.
Japan’s Topix index gained 1pc. Hong Kong’s Hang Seng index rose 0.6 pc. The Shanghai Composite climbed 0.6 pc. South Korea’s Kospi index added 1.2%. The Australian S & P / ASX 200 index rose 0.5%.
Industrial production (euro zone, Japan)