FTSE 100 LIVE: Markets rebound as investors cheer potential end to US government shutdown

The FTSE 100 (^FTSE) and European stocks rebounded at the opening bell in London, having sold off last week, as traders parse signs that the US government shutdown could be coming to an end.

A weeks-long impasse between Republicans and Democrats on a funding bill has meant government funding for crucial services — such as pay for air traffic controllers, aid cheques for ordinary people and data releases — has come to a stop.

The US Senate advanced a House-passed bill on Sunday which would fund the government until 30 January.

The amended bill is yet to pass the Senate. If and when it is, it will then be sent to the House of Representatives and then for sign off by Donald Trump.

"It looks like we’re getting very close to the shutdown ending," Trump said on Sunday evening.

The fraught political path ahead could take days to play out as the economic pain continues.

London's premier index ticked up 0.6% as markets opened. Diageo (DGE.L) was the top gainer, up more than 7% following news that the Guinness maker had appointed a new boss. In the US, futures tied to the S&P 500 (ES=F) rose 0.5%, while Nasdaq 100 futures (NQ=F) gained 0.9%. Dow Jones Industrial Average futures (YM=F) added 0.2%. The pound rose 0.1% against the dollar (GBPUSD=X) to trade near the $1.32 mark. In Europe, Germany's DAX (^GDAXI) gained 1.4% and the CAC 40 (^FCHI) in Paris rose 1%. The pan-European STOXX 600 (^STXE) rose 1%.LIVE2 updates

22 mins ago

Lucy Harley-McKeown

Tesco boss steps into top Diageo roll

Former Tesco boss Sir Dave Lewis has been appointed as chief executive of Diageo (DGE.L) as the Guinness and Johnnie Walker drinks giant looks to boost its flagging performance.

Lewis will take on the role on January 1, replacing Nik Jhangiani – the group’s previous chief financial officer – who has been acting as interim chief executive since Debra Crew resigned abruptly in July.

Jhangiani will revert back to being chief financial officer once Sir Dave starts in the post.

Sir Dave will resign as chairman of consumer healthcare firm Haleon at the end of December to take the helm at Diageo.

He led Tesco as group chief executive for six years until 2020, having previously spent nearly 30 years at Ben & Jerry’s and Marmite firm Unilever earlier in his career.

His appointment comes at a challenging time for Diageo as it grapples with weaker sales and a sinking share price. 42 mins ago

Lucy Harley-McKeown

Good morning

Hello there. Lucy Harley-McKeown here, looking forward to another eventful week in markets.

Investors will be looking to COP30, which formally begins in Belém, Brazil today.

On the diary is also the UK CIPD labour market outlook.

In terms of earnings:

Barrick Gold Corporation (B-C.BA) Coreweave (CRWV) TSMC (TSMC34.SA)

Let's get to it.

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