Good morning and welcome to Money Minute,
where we preview the day’s biggest financial stories. This morning, in the UK, we get first-half
figures from supermarket giant Tesco. Inevitably, any comments on the potential
impact of Brexit will be pored over closely by the press. However, investors will pay most attention
to like-for-like sales growth, and for signs of any strategy to tackle competition from
the discount chains, Aldi and Lidl. There may also be comment on Tesco’s recent
decision to sell its mortgage business to Lloyds Banking Group. We also get the latest ISM Construction Index
for the UK. The reading for August showed the sharpest
decline since August 2009. Recent weak readings have largely been blamed on uncertainty over
the timing and outcome of Brexit. In the US, we get the ADP private payrolls
data. Markets keep an eye on this as it is often seen as providing a sneak preview of
Friday’s unemployment data, although the correlation between the two is weak. A big surprise in either direction could move
the market. See you next time!