Morning Update – 26/06/2017 – by Arjun Lakhanpal

Morning all.. Wall St had a quiet finish on Friday with stocks barely changed and Asia also had a quiet session but the Nikkei managed a small gain. China was up 1.28%. The higher Nikkei helping USDJPY move off the lows but again ranges were tight. Equities from South Korea to Hong Kong rose as crude futures held above $43 a barrel. Technology shares had the biggest advance in the MSCI Asia Pacific Index. The yen was little changed against the dollar. The pound climbed for a fourth day amid Brexit negotiations by U.K. Prime Minster Theresa May, whose leadership remains under threat but again tiny ranges. DUP Leader Arlene Foster will meet the PM Theresa May in Downing Street this morning. Lloyds Biz Confidence Half Yearly Survey: rose to 24% from 14% prev; recovery in biz sentiment now more broadly based across sectors; confidence in manufacturing sector remains positive with rebound in service sectors supported by improving domestic demand; firms face difficulty recruiting skilled staff across all sectors; pricing intentions remained stable overall although px expectations in retail/wholesale have fallen suggesting consumer inflation will remain relatively high but may peak later in year. An absence of catalysts over the weekend left investors awaiting clues from central bankers on policy paths for some of the world’s biggest economies. Later on, European Central Bank President Mario Draghi will make speak in Portugal before Fed chair Janet Yellen makes an appearance in London on Tuesday. Markets were gripped last week by a plunge in oil while equities, the dollar and Treasuries all made little headway. US 10yr yield remains stuck at 2.15% and oil is up just 0.5%. With Bank of Japan Governor Haruhiko Kuroda also speaking at the ECB forum, the heads of key central banks have the chance this week to shape discussion by offering more clues on future policy. Futures on the S&P 500 were little changed. The underlying gauge rose 0.2 percent last week as tech shares extended a rebound. Not much data this morning with German IFO, UK Mortgage approvals the only releases.. Good luck..