The FTSE 100 is called to open 21 points lower at 7556. Stocks saw another mixed session in Asia Wednesday, with subdued trading volumes, as continuing U.S.- China trade tensions contrast with still-solid economic data to leave investors without a dominant narrative. The dollar stayed near a one-week high after a stronger-than-forecast report on American retail sales; positive signs on U.S. demand for travel added to a picture of a resilient consumer. Futures on the S&P 500 Index were steady after the U.S. gauge slipped amid a slew of earnings results, with sentiment in part dented by President Donald Trump saying he could impose more tariffs on China.

US equity markets reached new all-time highs last week – so all is fine for equity investors? Yes, if you look at returns so far this year, but no, if you focus on the risks to continued profit growth in the quarters to come.

Long before the internet and Kindle, I recall being taken to join the local library sometime in the 1960s. There was a display of fossilised sharks teeth in the window and the books carried a special library aroma. Although I was more into The Wind in the Willows and Black Beauty, popular authors were Kingsley Amis, Hammond Innes and Doris Lessing. From Lessing’s book ‘The Habit of Loving’, published in 1957, this quote brings to life the late summer garden.

For those of us whose gardens are beset with deer and rabbits, the best asset of common hydrangeas (H.macrophylla) is not their late summer show of pink, blue or white flowers, nor even their ability to fade gracefully through jewel-like shades of green and mauve. They contain cyanides, leading grazing animals to leave them well alone.