Good results from UK banks boost sentiment

Recession fears are rising up a notch, after data showed US GDP fell 0.9% in the second quarter, and the Fed unveiled another 0.75% rate hike.

The Bank of England is due to unveil its monetary policy on August 4, and could chose a 0.5% rise, according to JPMorgan and HSBC, instead of the usual 0.25%.

However, strong forecasts from lenders NatWest and Standard Chartered lifted sentiment, and London's FTSE 100 was up 0.7% this morning.

NatWest jumped 8.0% after the bank raised its full-year guidance, while Standard Chartered gained 3.8% on an improved outlook.

Jupiter Fund Management fell 5.8% due to a fall in its half-year profit.

 

Things to read today:

U.S. Treasury yields edge lower after negative GDP reading (CNBC)

Germany Stagnates as Rest of Europe Beats Estimates: GDP Update (Bloomberg)