A huge thank you to everyone who kindly voted for us.

We are pleased to announce we won ‘Best Execution Only CFD Provider 2014’ at last night’s City of London Wealth Management Awards.

Once again, thanks for all your support throughout 2013 and let’s hope 2014 is even more prosperous!

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

UK 100 called to open +5 points at 6635, as uncertainty left traders calculating the next move for equity markets. Results from Morrison’s look like the highlight this morning, slashing their guidance for 2014.

In Asia, equities started off well before easing off towards the end of the session thanks to weaker than expected Chinese data. Chinese retail sales came in at 11.8% vs expectations of 13.5% which helped push the Hang Seng lower by 110 points at 21,791 whilst the Nikkei ended the session down 14 points at 14,815.

Results today: Wm Morrisons (MRW.L) FY Revenue £17.7bn (£17.9bn expected) down 2%, EPS down 8% to 25.2p, FY underlying pretax profit £785m (£784m expected) final dividend 9.2p (8.86p expected) sees underlying profit 2014/15 £325-375m, to invest £300m in “investment proposition” to sell £1bn of property in 3 years. Home Retail (HOME.L) Argos L-f-L sales up 5.2% (1.5% expected)  in first 8 weeks, Homebase L-f-L sales up 9.3% (2.7% expected) sees pretax profit slightly ahead of expectations. Gulf Keystone Petroleum (GKP.L) Sales levels about 10,000 BOPD, since crude exports from Shaikan commenced in Dec 2013 in excess of 690,000 barrels of oil have been tendered and sold at international prices, in talks for debt financing for the next stage of the Shaikan project.

In focus today we have US initial jobless claims and US Retail sales at 12:30am. China concerns continue as data overnight showed both Industrial Production (8.60% vs 9.50%) and Retail Sales (11.80% vs 13.50) missed market expectations. ECB president Draghi speaking at 17:00. 

In FX, emerging market currencies came into play as investors nerves were calmed about the Ukranian situation and Chinese economic growth.  Concern had been increasing in recent days as Chinese data came in softer putting into question the possible slowdown of the Chinese economy. The dollar index dropped to 79.613 from 79.791 on Tuesday. Euro advanced to $1.3903 while sterling remained at $1.6618.

Gold climbed to a six month high as tensions between Ukraine and Russia escalated, boosting demand for ‘safe haven’ assets. Gold notched $1375, the highest level since September.

US Light crude traded near a one-month low on soft Chinese factory data and increasing stockpiles in the States. US Light trading at $97.80.

Copper, having fallen to its lowest level since 2009, recovered 1.5% yesterday on hopes of a rebound. London Metal Exchange recorded a level of $6,476 a metric ton.

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

• Aussie              Consumer Inflation                 WORSE
• UK                    House Price Balance               WORSE
• AUSSIE             Employment Change              BETTER
• AUSSIE             Participation Rate                   BETTER
• China               Retail Sales                             WORSE

See Live Macro calendar for all details

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

• Salamander Energy full year pretax profit rises
• Circassia prices IPO at 310 pence per share
• Vectura buys German pharma firm Activaero for 130 mln euros
• Bwin.party sees revenue, profit growth in 2014
• Northgate says UK vehicles on hire continues to grow
• SIG full-year pretax profit rises 5 pct
• Shell to cut Americas upstream spending by 20 pct
• Argos owner nudges up profit expectations after sales surge
• TT Electronics full-year pretax profit falls 16.8 pct
• UK grocer Morrisons slashes profit expectations
• Vimto maker Nichols posts 10 percent rise in profit