The FTSE 100 is called to open 4 points higher at 7560. Asian stocks are ending a bruising week on a positive note after an easing in trade tensions between China and the U.S and positive results from Walmart boosted American shares. The dollar steadied and Treasuries were little changed. Equities from Sydney to Hong Kong advanced, though Chinese shares underperformed. Futures signaled a muted start for stocks in London and New York. Emerging market equities rose for the first time in eight sessions and commodities steadied. The Turkish lira pared some of its gains as U.S. Treasury Secretary Steven Mnuchin said Turkey would face more sanctions if the country didn’t release a detained American pastor.

Economic news from around the world was generally encouraging last week but it was overshadowed by the events in Turkey.

News from Turkey, resonances from the past, searching for catalysts that matter and the irresistibility of secular trends all make an appearance in this week’s Diary. Cyclists may find something of interest in the final paragraph.

The pace of change in the car industry is perhaps at its most frenetic for the past fifty years. The rise of electric vehicles, autonomous driving, and the increased propensity to car-share – rather than simply buy one – are all upending the automotive world.