Spreadex Market Update
Policies revive confidence
A commitment in July to preserve the euro at any cost and the establishment of a single banking supervisor have improved financial-market sentiment.
The Bank of Japan will ease monetary policy this week and consider adopting a 2 percent inflation target no later than in January, responding to pressure from next Prime Minister Shinzo Abe for stronger efforts to beat deflation.
Under pressure, the central bank will likely ease policy this week amid looming risks to Japan's economic outlook and may also start debating how to meet Abe's calls to set a higher price target.
Britain's state-owned Royal Mail Group has added Bank of America Merrill Lynch and Goldman Sachs as its advisers ahead of a planned privatisation.
Royal Mail also said that Barclays, which had been working with the postal services company for some time, had been confirmed as financial adviser to the group. A stock market float for the company, which has almost 160,000 staff and sales of 9.5 billion pounds ($15.3 billion), is both Royal Mail and the government's preference as opposed to a sale, but all options remain on the table.
Tesco Plc is moving closer to appointing a chief executive, which could come in the early months of next year.
Tesco’s chief operating officer Chris Bush has emerged as an early front-runner for the role in the world’s third biggest retailer.
Phil Clarke, chief executive of the British company since March 2011, has been trying to turn round Tesco's UK business since it issued its first profit warning in 20 years last January.
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