Russia has taken a step towards opening up its markets – but only to countries it considers “friendly”. Bond trading will resume today on the Moscow Stock Exchange for investors from “non-hostile countries” – meaning those that have not targeted Russia with sanctions. China and Turkey are likely to be included in this group. However, the move excludes countries such as EU states, Canada and Japan, which together accounted for 90% of investment in Russia last year. It marks the end of a nearly six-month shutdown, with Putin halting bond and stock purchases following his invasion of Ukraine in late February.

5 things to start your day

  1. Saudi Aramco posts record profits as oil demand soars: The state-owned giant makes a record $48.4 billion in the second quarter.
  2. Nine out of 10 Bank of England staff given bonuses as inflation soars: More than 300 workers received bonuses of between £10,000 and £15,000.
  3. Pubs and restaurants warn of winter closures as energy bills soar 300%: Industry pushes for consumer price cap and says crisis is ‘no less of a threat’ than Britain’s drought
  4. UK’s first four-day week trial combats staff confusion and chaos: Companies involved say policy may not survive beyond ‘abnormal’ experiment
  5. Peckham Thatcherite who ‘straightened’ Stormzy: Carpet tycoon Lord Harris has won praise from the rapper for his commitment to education

What happened in the night

Tokyo stocks opened higher this morning after gains on Wall Street. The Nikkei 225 rose 0.6 percent while the broader Topix rose 0.2 percent. Meanwhile, Hong Kong shares fell at the open, with the Hang Seng index down 0.7%. The Shanghai Composite fell 0.3 percent and the Shenzhen Composite on China’s second bourse fell 0.2 percent.

It’s coming today

Corporate: Phoenix Group (Interim results) Economics: GDP (Japan); industrial production, retail sales (China). public holiday (Germany/France/Spain)