OVERNIGHT MARKETS ROUND UP – 21/05/14

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FTSE futures are indicating a slightly lower start to the day following losses on Wall Street yesterday evening. Markets are likely to be subdued ahead UK retail sales and the Bank of England’s meeting minutes. Sterling remained steady against the dollar as investors remained reluctant to place their bets ahead of the key economic data. Gilts will also be one to watch, likely to start mixed ahead Retail Sales which will show how enthusiastic consumers were in the last month whilst the meeting minutes could show when the Bank of England may finally raise rates. 

Asian stocks drifted lower for a fourth day, pulling the regionally benchmark index towards its longest losing streak since January. Reports from the Bank of Japan showed that officials refrained from adding to monetary stimulus, strengthening the yen but hurting stocks.

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