Gold sinks to $1,700 as global recovery gains pace – live updates – Telegraph.co.uk

Good morning. The FTSE 100 is tipped to open slightly higher as markets largely shrug off ructions caused by the sudden sell down of a hedge fund in the US.

5 things to start your day 

1) Londoners risk tax raid as Sadiq Khan faces Tube funding crisis: Analysts predict passenger numbers will permanently fall by a fifth as the pandemic changes travel habits forever.

2) Bill Hwang & the implosion that triggered Wall St earthquake: The Wall Street trader is at the centre of a storm around trades that went badly wrong, landing major banks with heavy losses.

3) Cameron faces probe into Greensill links to Government: A standards watchdog is set to look at the former prime minister’s links to and lobbying for the now-collapsed Greensill.

4) London risks leading house price crunch as Covid boom ends: London is poised to lead a national crunch in house prices as Covid and the stamp duty holiday risk pushing the market to unsustainable levels.

5) Deliveroo slashes valuation by £1bn as City shuns public float: The Amazon-backed food delivery app has cut its float offer price to between £3.90 and £4.10 per share, blaming volatile market conditions.

What happened overnight 

Asian shares were mixed in listless trading on Tuesday after US stocks finished mostly lower as cause for optimism, such as the Suez Canal reopening, mixed with caution about the vaccine rollout.

Japan’s benchmark slipped 0.1pc in morning trading to 29,347.21. Australia’s S&P/ASX 200 lost early gains to fall 0.4pc to 6,772.10. South Korea’s Kospi added 0.6pc to 3,053.78. Hong Kong’s Hang Seng gained 0.3pc to 28,408.74, while the Shanghai Composite slipped 0.3pc to 3,423.83.

Coming up today

Corporate: UK Oil & Gas (Full year); Imperial Brands, Pennon (Trading statement)

Economics: Unemployment (Japan), business confidence (eurozone), inflation (Germany, Spain), Conference Board consumer confidence (US)