The global rally cools as CNBC learns the signing of the first phase of the trade deal between the U.S. and China may now be pushed back to December, with the terms and location still to be decided. The Bank of England is expected to keep rates on hold as the U.K. December election campaigns lurch into gear. Prime Minister Boris Johnson launches the Conservative offensive amid ministerial resignations and senior party member gaffes. In corporate news, Tiffany is reportedly urging LVMH to increase its bid, saying the $14.5bn offer seriously undervalues the luxury group. We also have a glut of German corporate earnings today, including Siemens, ProSiebenSat.1 and Munich Re.  

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