Bob Diamond to face MPs as part of the LIBOR scandal investigation

<p>Following his resignation as the CEO of Barclays yesterday, Bob Diamond will be facing MPs later today as the investigation over the Libor interest rate […]</p>

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  • Following his resignation as the CEO of Barclays yesterday, Bob Diamond will be facing MPs later today as the investigation over the Libor interest rate scandal continues. Barclays shares were down 0.8% by the close of business yesterday, after initially rising 4.4% earlier in the day when the resignation was announced.
  • The FTSE closed at 5688, up 47 points, with strong performances from the mining sector- Vedanta the biggest riser, up 6%.
  • By 8am this morning the FTSE was at 5682 dropping with poor performances from the banking sector. The DAX was at 6561 and the Dow at 12923, gaining points for the third consecutive day as oil prices rise.
  • Today we have the Services PMI at 9.30am for the UK, however it will be a fairly quiet day as it is the US Independence Day, meaning that US markets will be closed.
  • The ADP non-farm employment change has consequently been pushed forward to tomorrow, which will be a busier day as investors await the Bank of England interest rate decision at midday.
  • The ECB Press Conference will be at 1.30pm, and the Spanish and French 10-year Bond Auctions will also be taking place.
See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

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