Markets Overview: (Source: Bloomberg, FT, Reuters, DJ Newswires)

UK 100 called to open up 25 points at 6,230, as we begin a new week/month and quarter. With little corporate earnings, eyes will be on macro date due later this morning for further direction. Canadian Mark Carney takes the helm as the Governor of the Bank of England, will he work his magic like he did with the Canadian economy?

Overnight Asian markets were flat with the Nikkei futures currently up 40 points at 13,896 whilst the Hang Seng was closed for a national holiday. Chinese data overnight came in-line with expectations; PMI was at 50.1 vs 50.8 last time, slightly lower but still above the key 50 level.

In the US (on Friday evening), the Dow Jones fell 115 points at 14,910 whilst the S&P was also down 7 points at 1,606.

Other data included Aussie House Price data as well as Aussie Inflation data, both coming in better than expected at 1.9% vs -1.2% prior and 2.4% vs 2.2% respectively.

In focus today will be Manufacturing PMI from Spain/Switzerland/Italy/France/Germany/Greece/ UK and the Eurozone, between 08:13 and 09:28 (check our Live Macro Calendar for exact times). (Monthly gauge of manufacturing activity and future outlook. The CIPS PMI is comparable to US ISM survey, similarly based on opinions of executives in manufacturing companies. Purchasing managers tasked with gauging future demand, and adjusting orders for materials accordingly)

UK 100 back above 6200 but hovering around the 6250 current level. With a quiet day for corporate earnings, we’ll have to see if macro data can either push the UK Index through one week resistance of 6,270, or will be head back to recent support of 6,200?

In FX, the USD rallied strongly against most major currencies on Friday as traders took the view that the Fed Reserve would start tapering back its stimulus, maybe even as early as September. The $ traded at 1.52 vs £ and at 1.30 vs €.

Gold still getting slapped by stronger USD, although it has seemed to have found some support at the significant $1,200 level, currently trading up $8 at 1,242. Next key resistance level will be $1,280.

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Overnight Macro Data: (Source: Reuters/DJ Newswires)

• Aussie      Inflation                           IN-LINE
• China       Manufacturing PMI        IN-LINE
• China       Leading Index                  IN-LINE

See Live Macro calendar for all details

UK Company Headlines: (Source: Reuters/DJ Newswires)

• James Fisher unit wins Total contract
• Cupid says independent review finds no fake profile practice
• Pearson – Pearson, Bertelsmann completes merger of Penguin and Random House
• Hunting says outlook positive, eyes growth in Africa
• Balfour Beatty sells Salford Hospital stake for 22 mln stg
• L&G management changes take shape, new CFO starts
• Hikma signs marketing deal with Theravance
• PV Crystalox Solar sells polysilicon plant
• Lonmin says furnace repairs completed
• Petrofac signs Kazakh deal
• Petards makes 3.6 mln stg offer for Water Hall
• Intertek signs new Gabon contract