Ggood morning. We will get the latest data on UK inflation this morning, and price growth is expected to remain fairly flat through November after hitting a half-decade low earlier in the year.
Later on, we will have the latest PMI readings, which will give an idea of the companies’ performance so far in December.
5 things to start your day
1) The Big Four employ hundreds of Chinese Communist Party membersThe Big Four accountants in the UK have used more than 2,000 CCP members, including at least one partner in each company.
2) Bounce Back’s loan scheme hit a £ 26 billion taxpayer bill: Members of Parliament are warning that the shortcomings of the Treasury’s “lamentably backward” bailout plan will leave taxpayers facing losses of up to 26 billion pounds.
3) Economists are warning that the jobs crisis could lead to an extension of the furloughExperts warn that Sonak could be forced to extend the taxpayer-funded vacation plan beyond March after a record high in layoffs.
4) Presidents warn of a new year “carnage” as job losses reach record levels: The heads of bars and restaurants have warned of a job “massacre” in the new year, as official figures have revealed record layoffs.
5) A French bank pays £ 75,000 to a man who was fired for failing to attend: Societe Generale was told that he should not have fired an employee for failing to show up to work after a three-year vacation.
What happened overnight
Asian stocks were rebound on Wednesday and the dollar weakened as hopes for effective coronavirus vaccines and mounting expectations for more US financial stimulus sparked investors’ euphoria ahead of the Christmas holiday season.
In a sign that positive momentum was about to expand, Eurostoxx 50 futures and German Dax futures rose 0.1%, while London’s FTSE futures held 0.3%.
The MSCI Asia Pacific Index outside of Japan rose 0.8 percent after two consecutive days of losses.
The index, hovering near record highs, rose 3.8 percent so far in December, on track to achieve its best annual performance since 2017 thanks to generous government and central bank incentives around the world.
Australian shares rose by 0.8 percent, while South Korea’s Kospi rose 0.4 percent, and Japan’s Nikkei index rose 0.2 percent.
China’s excellent CSI 300 index rose 0.15%, and Hong Kong’s Hang Seng jumped 0.86%.
Is coming today
Company: Dickson Carvon (Interim results); Petrofac (Trading statement)
Economics: Inflation (United kingdom), Flash PMIs (UK, Eurozone, Germany, France, United States), Retail Sales, Federal Open Market Committee announcement (we)