(Alliance News) - Stocks in London are called to open higher, ahead of the next inflationary print from the US later in the afternoon, which investors will be looking to for clues about interest rates.

In early corporate news, Just Group posted a positive outlook, as it expects to "substantially" beat previous 2024 guidance.

Here is what you need to know at the London market open:

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MARKETS

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FTSE 100: called 0.2% higher at 8,211.50

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Hang Seng: up at 17,112.87

Nikkei 225: closed up 3.2% at 36,134.70

S&P/ASX 200: closed up 0.2% at 7,826.80

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DJIA: closed down 140.53 points, 0.4%, at 39,357.01

S&P 500: closed little changed at 5,344.39

Nasdaq Composite: closed up 35.31 points, 0.2%, at 16,780.61

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EUR: up at USD1.0940 (USD1.0937)

GBP: down at USD1.2781 (USD1.2789)

USD: up at JPY147.62 (JPY147.61)

Gold: up at USD2,463.80 per ounce (USD2,458.10)

(Brent): up at USD81.62 a barrel (USD80.86)

(changes since previous London equities close)

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ECONOMICS

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Tuesday's key economic events still to come:

11:00 CEST eurozone ZEW economic sentiment survey

11:00 CEST Germany ZEW economic sentiment survey

11:30 SAST South Africa mining production

11:30 SAST South Africa unemployment

09:00 CEST Spain CPI

08:30 EDT US PPI

08:55 EDT US Redbook index

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The UK's unemployment rate decreased against expectations in June, while earnings growth slowed, data published by the Office for National Statistics showed Tuesday. The unemployment rate for the April-to-June period eased to 4.2% from 4.4% for March to May. This outperformed the FXStreet-cited market consensus, which had expected an increase to 4.5%. The Bank of England had forecast the unemployment rate to remain at 4.4%. Annual growth in employees' average regular earnings, excluding bonuses, stood at 5.4% in the April to June period, a slowdown from 5.7% for March to May. The wage growth of just 5.4% was the lowest in two years. The last time it was lower was in May to July 2022, when it was 5.2%.

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Hundreds of thousands of rural homes and businesses with poor internet connections are to receive a broadband boost through the latest round of government investment in internet infrastructure, UK ministers have said. Around 312,000 premises in rural areas across Britain will get access to gigabit-capable broadband thanks to an GBP800 million investment to modernise internet infrastructure as part of the government's ongoing Project Gigabit. The scheme aims to make the lightning-fast broadband accessible to the whole of the UK by 2030.

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In the latest data from Australia, the Westpac–Melbourne Institute consumer sentiment index rose 2.8% to 85.0 in August from 82.7 in July, and from 81.0 in the same month a year prior. "The component indexes show a clear improvement in the latest sentiment data, centred around family finances," explained Matthew Hassan, head of Australian macro-forecasting.

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According to the Bank of Japan, producer prices ticked up to 3.0% on-year in July, from 2.9% in June. The increase was in line with FXStreet-cited consensus. On a monthly level, producer prices rose by 0.3% in July from 0.2% in June. Import prices were up 1.6% on-year in July, and up 0.4% on-month.

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Donald Trump has criticised the EU and his Democratic opponents during a delayed, two-hour conversation with Elon Musk on X. The interview, due to start after midnight on Tuesday, was put back by more than 40 minutes by technical problems, with Musk blaming a cyber attack. Musk made no mention of his disagreement with UK Prime Minister Keir Starmer over Britain's riots and free speech, but he did raise the open letter posted by EU internal market head Thierry Breton's asking him not to spread disinformation when interviewing the former president. Trump responded by claiming the EU is "bad" on trade with the US and criticising Nato for not spending enough on defence.

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BROKER RATING CHANGES

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Peel Hunt cuts Spirax to 'hold' (add) - price target 8,300 (10,000) pence

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RBC raises Just Group price target to 175 (165) pence - 'outperform'

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JPMorgan raises Bridgepoint to 'overweight' (neutral) - price target 358 (259) pence

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COMPANIES - FTSE 100

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Alphabet Inc's Google will use its upcoming phone launch to "get the jump" on its rivals and try to "claim leadership" of the AI market in smartphones, an expert has said. The Mountain View, California-based firm is widely expected to introduce its Pixel 9 smartphone range during its Made by Google event on Tuesday evening. The launch is taking place earlier than normal, and will see Google make its announcement before Apple unveils the next iPhone, which is traditionally introduced in September. Ben Wood, smartphone expert and chief analyst at CCS Insight, said Google is trying to get ahead of its rival with new AI tools.

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COMPANIES - FTSE 250

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Tate & Lyle said that it has appointed Sarah Kuijlaars to the position of chief financial officer, and to the board, with effect from September 16. Kuijlaars was previously CFO at both De Beers Group and Arcadis NV. Prior to that, she was deputy CFO at Rolls-Royce Holdings. Chief Executive Nick Hampton said of Kuijlaars' appointment: "Sarah is an outstanding addition to our executive team and I am delighted to welcome her to Tate & Lyle. Her proven track record of financial leadership in large and dynamic global businesses will prove invaluable to us as we enter the next phase of our growth agenda as a focused food and beverage solutions business."

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Just Group posted pretax profit for the first half of GBP74 million, down from GBP117 million a year prior. By contrast, retirement income sales rose to GBP2.47 billion from GBP1.90 billion, while new business profit rose to GBP222 million from GBP161 million. Underlying operating profit was GBP249 million, up from GBP173 million the previous year. The firm declared an interim dividend per share of 0.7 pence, up 21% versus 0.58p the year before. Looking ahead, Just Group said its outlook is positive, noting a "strong and resilient capital base and low-strain business model". It now expects to "substantially beat previous 2024 guidance", which was doubling 2021's GBP211 million operating profit in three years.

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OTHER COMPANIES

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Keywords Studio said it has bought Wushu Studios, a game development studio in Liverpool, for an undisclosed sum. Recent titles Wushu has worked on include Fall Guys, State of Decay, Forza Horizon 5 and Baldur's Gate 3. The firm expects adjusted revenue of GBP12.5 million, and adjusted earnings before interest, taxation, depreciation and amortisation margin in line with that of the group expected in the financial year ending August 31. The consideration comprises an upfront and earn-out component and is expected to fall within the group's targeted valuation range, Keywords explained.

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By Holly Beveridge, Alliance News senior reporter

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