3) Italy’s billionaire Agnelli family are in line for a €1.4bn (£1.2bn) payday if the merger of car makers PSA Group and Fiat Chrysler goes through. The Agnellis – already worth almost €10bn – control about a third of Fiat Chrysler through their Exor investment vehicle, of which they own half.
4) Some of Britain’s most prominent business leaders branded Jeremy Corbyn “clueless” and said he has led “a narrow life” after the Labour leader attacked them in an election campaign speech. Financier Crispin Odey and Sports Direct boss Mike Ashley hit back at the Labour leader when he accused them of taking advantage of the UK’s “corrupt system” in a blistering attack on capitalism.
5) Apple faces a potential fine from French authorities for allegedly breaking competition law, the tech company has revealed. France’s Autorité de la Concurrence has hit Apple with claims that its sales and distribution operations in the country are anticompetitive, the company disclosed in its annual report.
What happened overnight
Most Asian stocks rose and European and US futures pushed higher Friday as investors weighed better-than-expected Chinese manufacturing data against uncertainty about an interim US-China trade deal.
Equities in Japan pared losses, while shares in Hong Kong and China rose after a closely-watched manufacturing gauge unexpectedly climbed. Stocks in Seoul shrugged off the latest plunge in South Korean exports.
Sentiment had weakened earlier and the S&P 500 slipped overnight after Bloomberg reported that Chinese officials have warned they won’t budge on the thorniest trade issues. Negotiators are expected to hold a call Friday.
Coming up today
Trading statement: Evraz, TP ICAP
Economics: Manufacturing PMI (UK and US)