LONDON -- The Dow Jones Industrial Average
At home, markets will be hoping for some positive economic data after yesterday's disappointing jobless claims data. Due this morning are the Empire State Index for June, May's industrial production and capacity utilisation data, and the latest UMich consumer sentiment index, but these relatively minor data are likely to be overshadowed by developments (if any) in Europe.
In London trading this morning, U.K. banks and oil shares were lifted strongly by Bank of England Governor Mervyn King's announcement last night that two new stimulus measures would be introduced, with the aim of stimulating lending to SMEs and households. The measures focus around providing cheap credit to U.K. banks, with between 80 billion pounds and 140 billion pounds of new money due to be fed into the economy over the coming months. During the morning, all major U.K. banks were up strongly, with Royal Bank of Scotland
Looking at the wider European markets, the FTSE 100
In company news, no major earnings reports are due today but companies active in trading could include shareholder activist target AOL, and American Insurance Group, which announced after the close last night that loans relating to the Maiden Lane III portfolio had now been repaid.
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