2) Pension superfunds face their moment of truth: Consolidators combine multiple employer plans under one roof and expected to close their first transactions later this year
3) M&G refuses to return money to frozen real estate fund: FTSE 100 company raked in £ 15.4million in fund management fees in the 12 months leading up to September and refuses to cut fees further
4) Company backers plan to test those who cannot work from home: John Lewis Department Store is part of a pilot testing program that includes employers in the food, manufacturing, energy and retail industries
5) Germany reflects on its future without ‘Mutti’ Merkel: Either Friedrich Merz, Armin Laschet or Norbert Röttgen will be elected on January 16 at the head of the largest European economy.
What happened during the night
Asianes stocks had a muted start to the week. The yen rallied slightly, and stock futures rose in Australia and Hong Kong. Japan has discovered a new variant of the coronavirus in travelers from Brazil, similar to the variant identified in the UK. The country’s stock markets were unable to respond as they were closed for a vacation.
South Korea’s Kospi jumped 2.5% early in trading to 3,230.15. The Australian S & P / ASX 200 lost 0.7 pc to 6,714.20. Hong Kong’s Hang Seng edged up 0.2% to 27,945.18, while the Shanghai Composite added 0.4% to 3,584.97.
Intermediate results: Carnival
Commercial declaration: SIG
Inflation (China); Industrial production (Spain); trade balance (Japan)