1630:Close London's benchmark index was up 0.27% to 6,690 by the finish, led by strong gains in Shire and the tobacco sector. A scaling back of risk appetite saw the Footsie fall to 6,672.37 by the close of trading yesterday, its lowest finish since April 17th. "The four-day sell-off that the markets have been subjected to gives the distinct feeling the FTSE is being oversold and a combination of shorts profit-taking and buy-on-dip traders should see considerably less red on the screens today," said Alastair McCaig, Market Analyst at IG. FTSE 100 up 18 to 6,690.
1436: Speaking out of Jackson Hole the President of the Federal Reserve Bank of Chicago said he sees no signs of inflation. Hence, he will not vote for a hike in interest rates until the first quarter of 2016.
1257: Second-quarter earnings results from banking group Wells Fargo & Co will be a focus for US investors head of the opening bell. The bank, which is the largest mortgage provider in the States, is expected to report earnings of 101 cents a share, up from 98 cents the year before, according to analysts.
1129: With no major economic data due out this afternoon, US stock futures are pointing to a modest rise on Wall Street after the Portugal-induced falls seen yesterday. Futures across the Dow, S&P 500
and Nasdaq are all 0.2% higher as of 06:29 in New York. Kansas City Fed President Esther George will be in focus today after last night noting positive developments in the US labour and said inflation was running closer to the Fed's target. George, who isn't a voting member of the FOMC, said that the Fed could begin to raise rates "as early as even this year".
1017: Shares in Imperial Tobacco are continuing to rise after the company confirmed it is in talks to buy certain assets or brands from Reynolds and Lorillard. Analyst Chris Wickham from Oriel said that given that Imperial is acting as a facilitator for a potential merger between the two US companies - who could be made to sell assets by competition authorities - the possible purchase of units by Imperial "could benefit the company by doing so on favourable terms".
1001: Telefonica may sell stake in Telecom Italia.
0930: Construction sector output in the UK fell by 1.1% month-on-month in May (consensus: 0.9%).
0845: UK stocks have started the morning with a modest bounce, led by the likes of easyJet and IAG, following yesterday's thrashing. Precious metals miners are at the bottom of the pile, alongside Glencore and Anglo American. Reynolds American may announce the purchase of rival Lorillard with the blessing of British American Tobacco, Bloomberg reports. As part of the transaction Imperial Tobacco may buy some assets and brands from Reynolds American and Lorillard. In other M&A news, Whirlpool may take control Italy's Indesit for $1bn. FTSE 100 up 23 to 6,695.