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

UK 100 called to open -13 points at 6807 with ex-dividends accounting for 8.54 points coming from the likes of Shire, BHP and Rio Tinto following a huge surge yesterday up 115 points on easing tensions between Russia and Ukraine.

In the US the markets followed the European lead with the Dow Jones up over 225 points to 16,395 with its biggest daily gain in 2014 with every company in the finishing in the blue. We also saw the S&P 500 finish higher by 28 points to close at another record high of 1873 helped by Qualcomm +3.4% raising its dividend and boosting its buyback plan, and Abercrombie & Fitch +6.7% after Credit Suisse lifted its rating. The Nasdaq also closed higher by 75 points to finish at highest levels since April 2000 whilst the Russell 2000 advanced the most in a year.

In Asian markets, the rally was mixed, with the Nikkei up 175 points as the Yen declined the most in seven weeks with the safe haven appeal waning. However the Hang Seng declined slightly down 60 points on profit taking and Tencent Holdings, Chin’s biggest internet company paring gains. China also set an annual economic growth target of 7.5% unchanged from 2013.

Commodity prices retreated from a 6 month high yesterday after Vladimir Putin ordered soldiers to retreat to their bases by the end of the week. The Standard & Poor’s GSCI Index of 24 raw material fell as much as 1.2% to 652.05 after a rise of 1.6% a day earlier. Brent crude fell $1.90 to $109.30 a barrel while WTI Crude declined $1.59 or 1.5% to $103.33 a barrel. Gold fell from a four month high of $1,355 to $1,337.90 an ounce after the Russian president’s orders. Wheat rose 1.9% to $6,435 a bushel on speculation the Crimea crisis may cut shipments from Ukraine.

In focus today we some significant market moving data out, starting with UK PMI service data out at 9:30am with a reading of 58.0 expected. At 10:00am we have Euro-Zone GDP data with the figure expected to come in as last month at 0.5%. Finally moving over to the US we have US ADP data at 13:15pm which will be seen as a precursor to the Non-Farm Payrolls on Friday. For an update on this please call in and speak to a trader.

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – all part of the service.

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

• UK                    BRC Shop Price Index              Worse
• AU                   GDP                                         Better
• CN                   HSBC PMI Services                  Improved

See Live Macro calendar for all details

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

• BP enters into partnership with New Zealand companies – media
• BBA Aviation says Finance Director Mark Hoad to step down on June 30
• Grafton FY profit up 27 pct, outlook favourable
• Soco FY output rises in 2014
• Capital and Regional returns to profit, resumes dividend
• Rentokil Initial enters Chile with Bestway buy
• Sportech confident for year despite U.S. snow blow
• Melrose Industries to return about 600 mln stg to shareholders
• BBA Aviation FY pretax profit up 16 pct to $145.2 mln
• Lookers annual profit rises 27 pct, ups dividend
• Michael Page full year pretax profit falls short of expectations
• Motor insurer Admiral’s profit boosted by overseas growth
• Carillion profit falls 13 percent after it scales back units
• Legal & General net cash generation rises as costs fall
• Carillion JV wins 150 mln stg contract in the Middle East