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Got a case of the Brexit blues? Well, turn that frown upside down – it’s Budget Day in the UK!
Britain is set to get a “solid, uncluttered view of how to prepare the economy for life after Brexit” today from chancellor Philip Hammond. But Prime Minister Theresa May’s fingerprints and Number 10’s interventions are already on some of the pre-announced measures, such as the £500m education package.
If you are looking for more budgetary insight in the hours leading up to today’s noontime release, here are six things to watch for and a deeper look at the UK’s post-referendum resilience, plus a few words of caution from the FT’s own Martin Wolf.
It has been a mixed session for Asia Pacific equities, with Sydney’s S&P/ASX 200 index closing the day flat while Hong Kong’s Hang Seng index is up 0.3 per cent and Tokyo’s Topix index has shed 0.3 per cent.
Futures tip the FTSE 100 to open 0.1 per cent higher in London, while the S&P 500 is expected to dip 0.2 per cent at the start of trading in New York.
Corporate earnings reports out today include Adidas, Inmarsat, G4S, Foxtons, Legal & General, Restaurant Group, Dignity, Admiral, WANdisco and Stock Spirits.
The economic calendar for Wednesday is more than just the budget, you know (all times London):
- 07.00: Germany industrial production
- 07.45: France current account
- 08.15: Switzerland consumer price inflation
- 12.00: UK budget