Government To Publish Brexit Strategy Ahead Of Talks

LONDON (Alliance News) - The UK government set to publish a series of strategy papers starting from this week as ministers prepare for a third round or talks between London and Brussels at the end of the month.

One strategy paper will focus on the future border between Northern Ireland and the Republic of Ireland, whilst others will address issues such as the availability of goods, and come as Prime Minister Theresa May returns to Downing Street after three weeks on holiday.

Brexit Secretary David Davis said on Sunday the papers would mark an "important next step" towards delivering on last year's vote to leave the EU.

A further batch of papers will be released ahead of an October meeting of the European council, amid an effort to clarify the UK's negotiating position.

In early corporate news, shipping services firm Clarkson said its interim profit rose by a quarter, following signs of "rebalancing" in its markets despite ongoing low freight rate levels.

The FTSE 250 firm reported pretax profit of GBP21.9 million for the six months to June 30, up 25% from GBP17.5 million for the same period in 2016. Revenue rose to GBP156.8 million from GBP147.2 million.

Clarkson increased its interim dividend to 23.0 pence per share from 22.0p the prior year. However, the company still warned of limited forward visibility of revenue, with low-activity in the newbuild market.

Elsewhere, John Menzies said it has ended discussions over selling its Distribution arm to logistics firm DX Group, following due diligence on revised terms for a deal. However, John Menzies said it still sees "strategic merit" in separating the Distribution unit from its Aviation division.

\Here is what you need to know at the London market open:
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MARKETS
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FTSE 100: to open 21.11 points higher at 7,331.10
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Hang Seng: up 1.2% at 27,194.44
Nikkei 225: closed down 1.0% at 19,537.1
DJIA: closed up 0.1% at 21,858.32
S&P 500: closed up 0.1% at 2,441.32
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GBP: up at USD1.3008 (USD1.2972)
EUR: up at USD1.1825 (USD1.1792)

Gold: firm at USD1,286.15 per ounce (USD1,286.67)
OIL (Brent): firm at USD51.93 a barrel (USD51.62)

(changes since previous London equities close)
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ECONOMICS AND GENERAL
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Monday's Key Economic Events still to come
(all times in BST)

1100 EU industrial production
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China's industrial production growth eased at a faster-than-expected pace in July, official data from the National Bureau of Statistics showed Monday. Industrial production climbed 6.4% year-over-year in July, slower than the 7.6% spike in June. Economists had expected the growth to moderate to 7.1%. Retail sales advanced 10.4% annually in July, following a 11.0% surge in the prior month. The expected rate of growth for the month was 10.8%. The statistical office also revealed that country's fixed asset investment grew at a slightly slower pace of 8.3% in July from a year ago, after a 8.6% hike in June. The growth was forecast to remain stable at 8.6%.
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Japan's gross domestic product advanced 1.0% on quarter in the second three months of 2017, the Cabinet Office said in Monday's preliminary reading. That beat forecasts for a gain of 0.6% following the upwardly revised 0.4% increase in the three months prior (originally -0.3%). On a yearly basis, GDP surged 4.0% - again topping expectations for 2.5% and up from the upwardly revised 1.5% jump in the first quarter (originally 1.0%). Nominal GDP jumped 1.1% on quarter, beating forecasts for an increase of 0.7% following the 0.3% decline in the previous three months. The GDP deflator was down 0.4% on year, beating expectations for a fall of 0.5% after sliding 0.8% in Q1.Private consumption added 0.9% on quarter, beating forecasts for 0.5% after rising 0.4% in the previous three months. Business spending spiked 2.4% on quarter, topping forecasts for 1.2% after adding 0.9% in the three months prior.
The Japanese economy has now expanded in six straight quarters, the first such streak in more than three years.
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The White House was on the defensive Sunday over President Donald Trump's failure to cite the role of white nationalists during a day of violence in Charlottesville, Virginia, while the city remained tense and rallies against racism were held across the country. Trump made no statements Sunday and sent no tweets, though his daughter Ivanka said on Twitter, "There should be no place in society for racism, white supremacy and neo-Nazis," and his national security adviser called the event an act of terrorism. A "Moment of Unity" was held in Charlottesville, giving citizens as chance to offer prayers and support for the victims, news reports said. Bouquets were laid on the street where 32-year-old Heather D Heyer died when she and other victims were mowed down. The man suspected of driving the car, James Alex Fields Jr of Ohio, 20, was charged with second degree murder and other crimes and is expected to appear in court on Monday. The violence involved hundreds of neo-Nazis, white supremacists and white nationalists who clashed Saturday with counter-protesters, injuring at least 15 people in addition to those injured in the car-ramming.
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Trump's national security advisor called the deadly attack on protesters in Charlottesville, Virginia an act of "terrorism." "Any time that you commit an attack against people to incite fear it is terrorism. It meets the definition of terrorism," HR McMaster told ABC's "This Week" in an interview on Sunday. Charlottesville Mayor Michael Signer, a Democrat, told NBC News: "I think it's clear that's a terrorist attack with a car used as a weapon."
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US ally Japan has braced itself for a potential strike by North Korea near the US territory of Guam, with the Japanese military installing four surface-to-air missile interceptors in the country's west. Inflammatory rhetoric between the US and North Korea over Pyongyang's nuclear programme soared to new heights this week when North Korea announced plans to fire rockets near Guam, a western Pacific island that is home to a US military base and around 160,000 people. Japan installed four PAC-3 missile interceptors on Saturday in four western prefectures, Kyodo News service reported, after Pyongyang warned that its missiles would cross over Shimane, Hiroshima and Kochi prefectures before landing in waters off Guam.
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US Vice President Mike Pence is set to embark on a trip to South and Central America on Sunday as concerns mount in the region over growing unrest in Venezuela. Pence's first stop will be Venezuela's western neighbour Colombia, where he is scheduled to hold discussions with President Juan Manuel Santos, the White House said. He is then set to visit Argentina, Chile and Panama. Venezuela is expected to be a topic during talks in each of the four countries, a senior administration official told reporters in a conference call. "All of these countries have demonstrated their clear support for democracy, rejecting the dictatorship of [President Nicolas] Maduro's regime," the official said.
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Kenya's opposition leader Raila Odinga on Sunday called on Kenyans not to go to work on Monday and said he would announce an action plan after losing an election to President Uhuru Kenyatta. "They have spilled the blood of the innocent," Odinga said in a reference to protesters killed by police. "Do not leave your homes. Do not go to work. We will make a declaration on Tuesday on which direction we are taking," he told supporters in the Nairobi slum of Kibera, an opposition stronghold. Odinga said he had warned of a military plan to ruthlessly quell protests after the announcement of the results of the August 8 elections, which the opposition rejects as fraudulent.
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Iraq at the behest of the Saudi Arabia is to play the role of mediator between the kingdom and Iran, Iraqi Interior Minister Qasim al-Arraji was cited as saying by the ISNA news agency on Sunday. A member of the Saudi royal family expressly called upon Iraq to attempt to ease the tensions between Riyadh and Tehran, al-Arraji said without naming the official. In January 2016, Sunni Muslim Riyadh cut off diplomatic ties with Shiite Muslim Iran after a mob stormed the Saudi embassy in Tehran in protest against Saudi Arabia's execution of 47 people, including a prominent Shiite cleric.
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BROKER RATING CHANGES
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GOLDMAN CUTS STANDARD CHARTERED PRICE TARGET TO 950 (970) PENCE - 'BUY'
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MORGAN STANLEY CUTS G4S TO 'EQUAL-WEIGHT' ('OVERWEIGHT')
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MORGAN STANLEY CUTS EXPERIAN PLC TO 'EQUAL-WEIGHT' ('OVERWEIGHT')
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CREDIT SUISSE INITIATES PLAYTECH WITH 'OUTPERFORM' - TARGET 1200 PENCE
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HSBC RAISES ESURE GROUP PRICE TARGET TO 320 (285) PENCE - 'BUY'
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S&P GLOBAL RAISES AMEC PRICE TARGET TO 460 (450) PENCE - 'HOLD'
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COMPANIES - FTSE 100
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Lloyds Banking Group is planning "a big push" into the wealth management market under its next three-year growth plan in order to "take advantage" of pensions reforms in the UK, according to the Financial Times. Chief Executive Antonio Horta-Osorio will unveil his third strategic plan in February next year, under which he will focus on Lloyds' bancassurance offering, expanding its pensions and investments products while rolling them out to more customers, the FT said citing "one banker briefed on the plan". "For Lloyds, which has nearly a quarter of the UK current account market but only about 2% of the wealth sector, the move will help fuel future growth," the FT said.
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Sky lost customers in the broadband market in the final quarter of the year, according to industry data, the Financial Times reported on Sunday. The company did not provide numbers for its performance in the broadband market when it reported its results for the year to the end of June in July. However, the FT reported that data compiled by competitors, based on the number of new customers added by BT's engineering division Openreach, suggests Sky lost around 15,000 customers in the quarter.
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Standard Life and Aberdeen Asset Management began trading as Standard Life Aberdeen on Monday, after the merger between the two investment firms completed. The merger between FTSE 100-listed Standard Life and FTSE 250-listed Aberdeen Asset Management, which was agreed back in March, has created Europe's second-largest fund manager, with an estimated GBP660.00 billion under management. "Today marks the culmination of many months of hard work and preparation by our business and the beginning of a new chapter in our history as Standard Life Aberdeen PLC. Our leadership team is in place and we have full business readiness from day one," Co-Chief Executive Keith Skeoch said. "As ever our priority remains the delivery of strong investment performance and the highest level of client service. The merger deepens and broadens our investment capabilities and gives us a stronger and more diverse range of investment management skills as well as significant scale across asset classes and geographies. We believe this will enable us to deliver an even better proposition and service to our enlarged client base," Co-Chief Executive Martin Gilbert added.
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ConvaTec Group said it appointed Regina Benjamin and Margaret Ewing as non-executive directors, with immediate effect. The medical product and technology company said Benjamin, who will join the corporate responsibility committee, was previously US Surgeon General and is currently a non-executive director of Diplomat Pharmacy Inc, Kaiser Foundation Hospitals & Health Plan, and Ascension Hospital System. Benjamin is also a former non-executive director of Alere Inc and was chair of the Federation of State Medical Licensing Boards.
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COMPANIES - FTSE 250
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Renewable infrastructure fund Greencoat UK Wind PLC said it has agreed to acquire the North Hoyle and Slieve Divena wind farms from institutional investors advised by JP Morgan Asset Management for GBP105.0 million. The acquisitions will be funded from Greencoat UK's revolving credit facility and will be completed in August. North Hoyle was developed by German electricity and gas provider Innogy SE and commissioned in 2004, and is located five miles offshore in Liverpool bay, with a capacity of 60 megawatts, and receives 1 renewable obligation charge per megawatt an hour.
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The Renewables Infrastructure Group on Monday said it has completed the acquisition of battery energy storage project Broxburn, which is currently under construction in West Lothian, Scotland. Broxburn is being developed as a 20 megawatt battery energy storage project by TRIG's operations manager Renewable Energy Systems. Construction is scheduled to be completed in early 2018 and the project is expected to have an operational life of 15 years. Broxburn has no debt financing and "benefits from a bespoke bilateral contract" with National Grid Electricity Transmission PLC to provide two-way grid balancing services, TRIG said.
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COMPANIES - INTERNATIONAL
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German utility RWE on Monday confirmed its forecast for 2017 in the upper end of the range after good performance in the first six months. Net income for the first half amounted to EUR2.67 billion, significantly higher than EUR457 million in the first half of 2016. Earnings per share were EUR4.34, higher than EUR0.74 last year. Along with the good business performance, this improvement was driven by a significantly better financial result and the nuclear fuel tax refund, the company noted. In early June, the German Constitutional Court ruled that the law on the nuclear fuel tax was unconstitutional and retroactively void. Adjusted net income, excluding the nuclear fuel tax refund, totalled EUR809 million, compared to EUR598 million a year ago. Adjusted earnings per share were EUR1.32, compared to EUR0.97 last year.
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Monday's Shareholder Meetings

Vedanta Resources
Zanaga Iron Ore
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