Last checked at 
(Alliance News) - Stock prices continued to rise globally on Tuesday, though with little fresh news, investors were left with speculating about Friday's Jackson Hole meeting of central bankers and watching the dramatic scenes unfold at Kabul airport.
US Federal Reserve Chair Jerome Powell gives a speech at 3 pm London time on Friday.
"Markets are perhaps hoping that Powell will give cautious signals on the timing of Fed tapering after minutes of the July policy meeting suggested it could start sooner than previously expected," commented economists at Lloyds Bank.
Here is what you need to know at the London market open:
----------
MARKETS
----------
FTSE 100: up 0.6% at 7,127.10
----------
Hang Seng: up 1.9% at 25,595.66
Nikkei 225: closed up 0.9% at 27,732.10
DJIA: closed up 215.63 points, or 0.6%, at 35,335.71
S&P 500: closed up 0.9% at 4,479.53
Nasdaq Composite: closed up 1.6% at 14,942.65
----------
EUR: firm at USD1.1741 (USD1.1734)
GBP: up at USD1.3741 (USD1.3717)
USD: firm at JPY109.82 (JPY109.78)
Gold: soft at USD1,804.11 per ounce (USD1,804.37)
Oil (Brent): up at USD69.21 a barrel (USD68.44)
(changes since previous London equities close)
----------
ECONOMICS AND GENERAL
----------
Tuesday's Key Economic Events still to come
0855 EDT US Johnson Redbook retail sales index
1000 EDT US new residential sales
1300 EDT US money stock measures
1630 EDT US API weekly statistical bulletin
----------
UK Prime Minister Boris Johnson will chair an emergency meeting of G7 nations on Tuesday to coordinate a response to the crisis in Afghanistan as the race to evacuate people continues. Ahead of the virtual meeting, Johnson promised "to use every humanitarian and diplomatic lever" to protect human rights in the country, following the Taliban takeover. He is expected to push the US to extend its presence in the country past August 31 to allow the evacuation effort more time. Downing Street said Johnson and US President Joe Biden spoke on Monday ahead of the G7 leaders meeting. In a readout of the call, Downing Street said: "The leaders agreed to continue working together to ensure those who are eligible to leave are able to, including after the initial phase of the evacuation has ended." In a statement released ahead of Tuesday's meeting, Johnson said: "Our first priority is to complete the evacuation of our citizens and those Afghans who have assisted our efforts over the last 20 years – but as we look ahead to the next phase, it's vital we come together as an international community and agree a joint approach for the longer term."
----------
The German economy grew by 1.6% in the second quarter from the first, upgraded from a flash reading of 1.5% growth. On an annual basis, gross domestic product increased by 9.4%, improved from the previous estimate of 9.2%.
----------
Kathy Hochul became the first female governor of New York at the stroke of midnight, taking control of a state government desperate to get back to business after months of distractions over sexual harassment allegations against Andrew Cuomo. The Democrat from western New York was sworn in as governor in a brief, private ceremony in the New York State Capitol overseen by the state's chief judge, Janet DiFiore. Afterward, she told WGRZ, a Buffalo television station, she felt "the weight of responsibility" on her shoulders. Hochul's ascent to the top job was a history-making moment in a capital where women have only recently begun chipping away at a notoriously male-dominated political culture. Cuomo left office two weeks after he announced he would resign rather than face a likely impeachment battle.
----------
BROKER RATING CHANGES
----------
JPMORGAN CUTS IAG PRICE TARGET TO 2.45 (2.70) EUR - 'OVERWEIGHT'
----------
JEFFERIES INITIATES COATS GROUP WITH 'BUY' - TARGET 97 PENCE
----------
COMPANIES - FTSE 250
----------
John Wood said its first-half earnings were in line with prior guidance, with improving momentum in the second quarter. For the six months to June 30, revenue was down 23% at USD3.15 billion from USD4.09 billion a year prior, but pretax profit multiplied to USD18.4 million from USD900,000. John Wood explained that the fall in revenue was primarily caused by Covid-19 and included a USD74 million reduction in revenue from disposed businesses. Profit was improved by smaller exceptional charges and lower finance expenses. John Wood said it saw encouraging signs of markets recovering with its order book at June of USD7.7 billion, up 18% compared to December 2020. The company declared no interim dividend, in line with year before, but said it was committed to reviewing the future policy as certainty over the rate of recovery in markets increases. Looking ahead, John Wood expects full-year revenue in the range of USD6.6 billion to USD6.8 billion underpinned by trading momentum and strong order book growth, with USD3.0 billion for delivery in the second half. It posted revenue of USD7.6 billion for 2020.
----------
Spectris said it has agreed to sell its NDC Technologies business to US dispensing equipment manufacturer Nordson for USD180 million. The precision instruments maker said the sale was in line with its strategy to simplify and focus its portfolio. It was the last of the divestments identified in 2019 as part of the company's 'strategy for profitable growth' programme. Spectris said the proceeds will be used to further strengthen its balance sheet and then be deployed in accordance with its capital allocation policy.
----------
COMPANIES - MAIN MARKET AND AIM
----------
Science Group increased its offer for TP Group, after TP said the previous offer "significantly undervalues" the company. Science Group raised the offer for TP Group to 6.50 pence per share from 5.80p. TP Group shares ended down 0.8% at 6.00p on Monday. Science Group said the increased offer represents a premium of 67% to the closing share price for TP on August 6, which was the last trading day prior to Science Group's initial investment. It is the same as the issue price in the TP Group fundraising in July 2017. Science Group said the raised offer for TP Group is final unless rival bidder emerges and added that it has an 18% stake in TP Group following recent share purchases, the highest price for which it paid its new offer price of 6.50p.
----------
Tuesday's Shareholder Meetings
Northern Bear PLC - AGM
Nuformix PLC - AGM
Vectura Group PLC - GM re acquisition by Philip Morris International
----------
By Tom Waite; thomaslwaite@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
