Stocks in the UK are higher this morning having been generally lower this week after yesterday’s surprise in inflation data and slowing retail sales data from China. In the US, retail sales numbers are due later today.

An added concern for investors could be a new defence alliance forged between the UK, US and Australia which may trigger fresh tensions between China and the US. The military partnership, called Aukus, is seen as a clear response to China’s expanding influence in the Indo-Pacific region.

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