Tuesday preview: UK leadership transition, US house price surveys in focus

Investors were expected to continue to focus on Tuesday on the transition from Liz Truss as Prime Minister.

Although it was now known that Rishi Sunak would succeed her, the exact timing had still to be announced, although it was possible that it might occur on Tuesday.

And while the Chancellor and the Treasury were still working towards their 31 October deadline for delivering the government's medium-term fiscal plans, the final decision of whether to go ahead now rested with Sunak.

Against that backdrop, at 1100 BST, the Confederation of British Industry would publish the results of its Industrial Trends survey for the month of October.

Meanwhile, in the US, the market spotlight would be on rival house price surveys from the Federal Housing Finance Agency and S&P for the month of August that were due out at 1400 BST.

At 1500 BST, the Conference Board would follow with the release of its consumer confidence index for October.

Federal Reserve Board governor, Christopher Waller, was also due to take to the podium after the close of markets at 1855 BST.

In the euro area, at 0900 BST, attention would be on the German IFO institute's closely-followed survey of business conditions in the country.

It would coincide with the release of the European Central Bank's bank lending survey for the third quarter.

No major economic announcements were scheduled in Asia.

Tuesday 25 October

QUARTERLY PAYMENT DATE

General Electric Co (CDI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Confidence (US) (15:00)

House Price Index (US) (14:00)

IFO Business Climate (GER) (09:00)

IFO Current Assessment (GER) (09:00)

IFO Expectations (GER) (09:00)

FINALS

Softcat, Tristel

AGMS

Oil & Gas Development Company Ltd GDR (Reg S)