Fast Europe Open: Germany industrial output, eurozone Sentix index

Japan would welcome Britain to the Trans-Pacific Partnership trade deal “with open arms”, said prime minister Shinzo Abe in an interview with the Financial Times, as he urged compromise to avoid a no-deal Brexit.

Speaking at his official residence in Tokyo, Mr Abe said the UK would lose its role as a gateway to Europe after Brexit, but would still be a country “equipped with global strength”.

His remarks will encourage Brexit supporters in the UK who see new opportunities for free trade outside the EU while turning up the pressure on Brussels and London to strike a timely exit deal.

In markets on Monday, Chinese equities started the week with a sharp fall despite the central bank’s move to cut the amount of reserves it requires domestic banks to hold in a bid to shore up economic growth. The decision to cut reserve requirement ratios came as Chinese stocks resumed trading following a five-day holiday during which global stocks slid and the 10-year US Treasury yield jumped above 3.2 per cent.

The CSI 300 index of Shanghai and Shenzhen-listed companies was down 3.4 per cent in afternoon trading. In Hong Kong, the Hang Seng index fell 0.6 per cent and Australia’s S&P/ASX 200 slipped 1.4 per cent.

Futures tip the FTSE 100 to dip 0.1 per cent and the S&P 500 is set to rise 0.1 per cent at the open.

Corporate earnings and updates for Monday include Reach and RPC Group. The economic calendar is gently easing us into the week (all times London):

• 07.00: Germany industrial output

• 09.30: eurozone Sentix index

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