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.
Finally, billionaire investor Warren Buffett often hits the headlines with his U.S. investments, but less well-known is a major investment he made in a top U.K. blue chip brand earlier this year. Buffett increased his stake in the company to more than 5%, taking advantage of current market weakness to buy at an attractive price. If you would like to know what persuaded Buffett to buy and how much he paid, you can find this information in this special free report.
Are you looking to profit from this uncertain economy? "10 Steps To Making A Million In The Market" is The Motley Fool's latest report. We urge you to read it today -- your wealth could be transformed. Click here now to request your free, no-obligation copy. The Motley Fool is helping Britain invest. Better.
Further investment opportunities:
Roland Head does not own shares in any of the companies mentioned. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.