What you need to know before the open

Today's top story: Shareholders vent fury over Royal Mail pay

Today's leader: Why Mike Ashleys retail gambles are a mistake

A disappointing session in US markets last night and the Chinese yuan falling to a one-year low today both point to a negative opening in European equity markets.

London Capital Group predict the FTSE will open six points lower at 7,677, Germanys Dax will open 23 points lower at 12,663 and Frances CAC will open seven points lower at 5,410.

US markets closed down yesterday with the Dow falling 0.53 per cent and the S&P 500 declining 0.39 per cent.

That negative sentiment flowed into Asian trading today which was further shaken by the fall in the value of the yuan against the dollar.

Oil prices rose today after Saudi Arabia said it would cut crude shipments, with the price of a barrel of Brent crude up 0.28 per cent to $72.78.

​Corporate news

  • Beazley– the insurer is announcing interim results today
  • Schlumberger– the oil field services company is announcing interim results.


  • 09.30 – UK public sector finances

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