FTSE surges as markets stabilize after sale of hedge funds – Live updates

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Post-Brexit deal for the city draws closer


gHello. The FTSE 100 is expected to open slightly higher as markets largely ignore declines caused by the sudden sale of a hedge fund in the United States.

5 things to start your day

1) Londoners risk tax raid as Sadiq Khan grapples with tube funding crisis: Analysts predict the number of passengers will decline permanently by one-fifth as the pandemic forever changes travel habits.

2) Bill Hwang and the implosion that triggered the Wall St earthquake: The Wall Street trader is at the center of a storm over deals gone awry, landing big banks with heavy losses.

3) Cameron faces an investigation into Greensill’s links to the government: A standards watchdog is set up to examine the former prime minister’s links and lobbying for the now collapsed Greensill.

4) London risks leading to property price crisis as Covid boom ends: London is on the verge of leading a nationwide house price crisis as Covid and the stamp duty holidays risk pushing the market to unsustainable levels.

5) Deliveroo cuts valuation by £ 1billion as City avoids public float: The Amazon-backed food delivery app slashed its floating offer price to between £ 3.90 and £ 4.10 per share, blaming volatile market conditions.

What happened overnight

Asian stocks were mixed in listless trading on Tuesday after US stocks ended mostly lower on optimism like the reopening of the Suez Canal mixed with caution over the vaccine rollout.

Japan’s benchmark index slipped 0.1% in morning trading to 29,347.21. The Australian S & P / ASX 200 lost its early gains to fall 0.4% to 6,772.10. South Korea’s Kospi added 0.6 pc to 3,053.78. The Hong Kong Hang Seng gained 0.3% to 28,408.74, while the Shanghai Composite slipped 0.3% to 3,423.83.

Coming today

Company: Oil and gas in the UK (Full year); Imperial Marks, Pennon (Commercial declaration)

Economy: Unemployment (Japan), business confidence (euro zones), inflation (Germany, Spain), Conference Board Consumer Confidence (WE)

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