Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Unemployment Claims @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

European Stocks Up On Supportive Fed & China Data; Jobless Claims Data Awaited

European stocks were seen to be edging higher today, boosted by expectations that the Federal Reserve would continue to support the U.S. economy and by data showing an increase in Chinese factory activity. Britain’s FTSE 100 was expected to open 14 to 16 points higher, or as much as 0.2 percent and Germany’s DAX to open 32 to 33 points higher, or 0.3 percent. Global shares rose overnight after minutes of the U.S. Federal Reserve’s last meeting reassured investors that policy makers would stick to their easy monetary policy stance. While Fed staff presented several approaches to raising short-term interest rates, they said the discussion was simply prudent planning and not a sign rate hikes would come any time soon. The Fed is unlikely to spoil the recovery while inflation is low and underemployment is high. Sentiment on risk assets was further boosted by China’s factory sector which showed its best performance in five months in May, confounding some of the more bearish on the world’s second-biggest economy and top consumer of metals.

Meanwhile, U.S Unemployment Claims data is awaited today. Initial claims for U.S. unemployment benefits hit a seven-year low of 297,000 claims last week, confirming the strong recovery in the US economy. Claims fell 24,000 from the preceding week, indicating stronger economic growth in the second quarter. Stronger labour market and rising inflation pressures give the green light to the Fed’s ongoing tapering move. Jobless claims are expected to increase to 312,000.

UK Retail Sales Rise Much More Than Expected

British retail sales rose much more strongly than expected in April helped by robust food sales during the Easter holiday. Retail sales volumes jumped 1.3 percent on the month to show 6.9 percent growth on the year - its highest annual growth rate since May 2004. Economists had expected retail sales to rise 0.5 percent on the month and for sales to be up 5.2 percent compared with April last year. Sales for March were also revised up significantly. Britain’s consumers have been the main driver of the country’s economic recovery which began last year. A fall in inflation and signs of higher wages have helped restore some of the spending power lost in the years after the financial crisis. The turnaround in the housing market has also given home-owners more confidence to spend.

And The World’s Biggest Brand Is Now….

Google has leap-frogged over Apple to take the top spot in a global ranking measuring the value of the world’s biggest brands. Google saw a 40 percent year-on-year increase and is now worth to $159 billion making it top of the world’s most valuable global brands according to a recent report. Google has been hugely innovative in the last year with Google Glass, investments in artificial intelligence and a multitude of partnerships. Apple was knocked off the top spot after three years as the world’s number one, after its brand’s value fell 20 percent to $148 billion. A perception the Silicon Valley giant no longer redefines technology for its customers, as evidenced by a lack of new product launches, was behind the dip, according to the report. However, the fact Google and Apple took first and second place reflects technology brands’ growing dominance. The top four most valuable brands Google, Apple, IBM and Microsoft, all belonged to technology companies. The average technology brand is worth $45.9 billion, sitting way above the average brand value of £24.9 billion. The Top 100 have a combined value of $2.9 trillion and have increased by 49 percent since 2008. Their resurgence is a reflection of global growth which followed the end of the 2007 financial crisis.

That sums up today’s highlights! Remember to keep in touch with us via Facebook, Twitter, Google+ & Twitter for all the latest trading developments of the day.

We hope you have a profitable day on the markets.