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

UK 100 called to open +20 points at 6702, following a slightly stronger session in Asia overnight as the Bank of Japan kept monetary policy steady by unanimous vote. The Japanese central bank said the economy continues to recover gradually and cut the view on exports saying they have recently levelled off while maintaining its economic assessment. The US markets were however down on Monday due to poor Chinese data. China reported a fall of 18% in exports and a 10% increase in imports, which meant the globe’s second largest economy switched to a trade deficit. The Dow Jones was down 34 points at 16,418 whilst the S&P was down 1 point at 1877. In Asia, the Nikkei was recently up 103 points at 15,224 whilst the Hang Seng was up slightly at 22,279 (14 points).

In focus today we have UK Industrial and Manufacturing Productions figures out at 09:30am, both expected to come in higher than last month. This will be followed by the UK NIESR GDP estimates which showed last month the economy grew by 0.8%. Away from macro data all eyes will continue to focus on Ukraine to see if tensions continue to escalate.

Results today: Esure (ESUR.L) FY pretax profit £118.4m vs. £118.6m expected, net income £93.2m vs. £91m expected, EPS 4.57p, final dividend 13.3p p.sh, see gross written premiums in 2014 similar to 2013, Q1 weather claims £3-4m more than expected. Foxtons (FOXT.L) FT Rev up 16% to £139.2m, total dividend proposed 5.44p p/sh, EPS 12.2p vs. 8p, pretax profit £38.9m vs. £24.9m up 56%. Inchcape (INCH.L) Posts an 11% rise in FY pre-tax profit of £274.6m vs. £270.9m expected, on sales of £6.5bn giving a total dividend of 17.4p p/sh, boosted by a strong performance in emerging markets, Britain and Australia

In commodities, gold climbed slightly to $1342 on its appeal as a safe haven following reports of gun fire by Russian troops in Crimea. Having rallied 11% this year the unrelenting tensions between Russia and Ukraine will continue to help keep prices supported.  Despite this recent rally in gold, whereby government data now shows hedge funds are at their most bullish since 2012, Goldman Sachs still says there is a chance of a slump back to $1000 for the first time since 2009. In industrial metals, copper advanced following its biggest two day drop in 28 months, up almost 1% on a rebound. WTI traded lower again, heading for a three-week low amid speculation that crude stockpiles increased. Currently trading at $101.1 we could see support at the $100 level.

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

• Japan               Manpower Survey                   IN-LINE
• China               Manpower Survey                   IN-LINE
• UK                    BRC sales                                WORSE
• Japan               BOJ Monetary Base Target    IN-LINE

See Live Macro calendar for all details

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

• BHP Billiton says steel production growth in China expected to moderate
• Deltex Medical full-year revenue rises
• Halfords reiterates guidance ahead of site visit
• Sports Direct proposes share award scheme for Mike Ashley
• Computacenter’s full-year pretax profit rises 3 pct
• Close Brothers profit lifted by increased lending
• Housebuilder Barratt appoints John Allan as chairman designate
• Strong demand pushes car dealer Inchcape profit up 11 pct
• Esure combined ratio narrows to 89.7 pct