United Kingdom

Markets live latest news on the pound, euro FTSE 100 Greene King

Good morning. FTSE 250 pub group ​Greene King managed to almost single-handedly lift the travel & leisure subgroup yesterday to become the best-performing sector across Europe.  Weary markets managed to seize some ground so we'll be looking to see if the positivity can continue.

5 things to start your day

1) Families are increasingly worried about keeping their jobs and beginning to cut back on big spending decisions as a result. Confidence in major purchases slid rapidly this month, according to IHS Markit’s household finance index, raising fears over the stability of consumer spending.

2) Germany is on the brink of a recession after the country’s central bank warned that Europe’s largest economy is at risk of shrinking further in the third quarter of the year. German output will remain lacklustre and “could continue to fall slightly” in the three months to the end of September, the Bundesbank said, heightening fears of a global economic slowdown.

3) British Airways and Royal Dutch Shell have submitted plans to build Europe’s first plant that converts household waste into jet fuel. The duo will work with Velocys, a sustainable fuel specialist, on the site near to the Humber estuary in North Lincolnshire. It is hoped that around half a million tonnes of rubbish destined for landfill will be converted into cleaner burning aviation fuel.

4) The world's biggest cargo ship - longer than 36 buses - arrives in Europe: The latest giant of the seas, the MSC Gülsün, has docked in Europe after its first voyage from northern China set a  record for container ships. The 400 metre (1,312ft) vessel can transport 23,576 standard 20ft long shipping containers - known as “TEUs” (Twenty Foot Equivalent units).

5) The rebirth of Detroit: Self-driving cars are transforming Motor City. Once synonymous with decline, poverty and crime, it is now home to hipster hotels, a buzzy restaurant scene and a slew of startups working on self-driving cars, air taxis and the tech that powers them. Electric scooters dot the pavements and it has a shared bicycle scheme, shiny new buses and a freshly-launched transit mobile app. 

What happened overnight

Most Asian markets rose on Tuesday on the back of hopes for central bank and government stimulus measures around the world, while investors were also cheered by further signs of easing tensions in the China-US trade war.

By lunch Tokyo was up 0.4 percent, while Shanghai was slightly higher and Hong Kong was flat, weighed by profit-taking after four days of gains.

Sydney gained 0.6 percent, Singapore, Seoul and Taipei each put on 0.3 percent and Wellington rose 0.6 percent. Manila and Jakarta were both down.

BHP, the world's biggest miner, more than doubled its annual net profit on Tuesday on the back of higher iron ore prices and a rebound from significant setbacks the previous year.

The resources giant posted a US$8.3 billion profit for the year to June 30, up from US$3.7 billion in the previous year when heavy impairment charges related to the sale of its US shale assets and costs associated with the Samarco disaster in Brazil dented its results.

Underlying profit - its preferred measure, which strips out one-off costs and is more closely watched by the market - rose just 2 percent to US$9.4 billion, due to strong commodity prices and increased production.

The company declared a final dividend of 78 US cents, which it said was a record return of US$3.9 billion to investors and came on top of US$17 billion already paid out this financial year.

Coming up today

Full-year results: BHP, which is trying to see off US activist Elliott Investments, has already released its results in Australia today. 

Interim results: Empiric Student Property, Global Ports, John Wood Group, Persimmon, Tribal Group, SeaDrill

Economics: CBI manufacturing (UK), construction (eurozone)

Football news:

Ighalo's agent confirmed that Manchester United are close to extending the player's loan until January
Celtic can sign Claudio Bravo, foster or Joe HART
Harry Kane: Tottenham must win 7-8 games to qualify for the Champions League
Jankauskas on Mourinho: Smart, witty and strong. First of all, the spirit
Balotelli wants Brescia to return him to the team or pay compensation. In the summer, the player will change clubs
Witzel on Sancho: He is one of the best players of his generation
Favre about Mike Sancho: I didn't see Anything – I can't judge. I don't know why he did it