UK stocks are expected to open lower this morning, tracking losses on Wall Street and in Asia overnight.
Asian stocks fell on the back of weak economic data out of China and Japan and as data on US job openings bolstered the case for higher US interest rates.
US stocks failed to add to their second biggest advance of the year. Losses worsened in late Wednesday trading as Apple Inc. slumped after unveiling new products. Apple’s share price fell 1.9%.
UK stocks advanced for a third day where commodity producers led gains on the FTSE 100 Index. Glencore Plc, Anglo American Plc, BHP Billiton Plc and Rio Tinto Group all rallied 2.9% or more. GlaxoSmithKline Plc lost 1.2%, after its Breo Ellipta asthma medicine didn’t extend lives in a study.
The Bank of Japan should expand its monetary easing program by at least 10 trillion yen ($83 billion), ruling Liberal Democratic Party lawmaker Kozo Yamamoto said in an interview on Thursday, adding that its policy meeting on 30 October would be a ‘good opportunity’.
China will open its domestic foreign-exchange market to overseas central banks, making it easier for other nations to hold yuan assets as Asia’s biggest economy pushes for the currency to win reserve status at the International Monetary Fund.
The Royal Institution of Chartered Surveyors (RICS) said UK house prices will rise twice as fast as it previously anticipated this year as a shortage of properties widens the imbalance between supply and demand. Values will increase 6% in 2015, up from 3% predicted at the start of the year, RICS said on Thursday