Asian markets for choice higher, with the exception being the Nikkei lower by around 0.5%. China released manufacturing data over the weekend which showed a weaker than expected August PMI of 49.2, whilst Australian retail sales declined in July by the most in almost 2 years.

German finance minister Schaeuble has said it is unlikely that we will see ECB supervision laws this year, adding the central bank would not have the capacity to oversee all European banks. The OECD is expected to downgrade its forecasts for Britain when it releases its interim economic assessments for G7 economies on Thursday. European equity futures are looking marginally lower in early trade.

US markets closed for Labour day today.

 

Posted by Philip Ball | Sales and Trading