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

UK 100 called to open 15-20 points lower this morning as traders first digest yesterday’s macro data along with caution ahead of today’s US non-farm payroll data (Monthly change in number of part-time or full-time workers in US excl. farming sector). As expected, the Bank of England yesterday kept interest rates unchanged at 0.5% and also pumped a further £50bn into the economy to take the total QE figure to £375bn. The ECB lowered their interest rates by 0.25% to 0.75% whilst a bit more surprising was the Chinese decision to drop rates by 0.25% to 3%.

Overnight, the Dow Jones ended the session 47 points lower at 12,897 while the Nasdaq was flat at 2,976. In Asia, the Hang Seng closed down 80 points while the Nikkei was recently down by around 60 points at 9,020.

Both Gold and US Light Crude Oil came off yesterday, currently trading at $1,603 and $86.35 respectively. In FX markets, following the further quantitative easing the BoE introduced, the £ vs $ came of further to trade around 1.55

Keep an eye on US macro data later on this afternoon. In particular, non-farm payroll data which is due out at 13:30 today is expected to show a change of +90k. Check our Live Macro Calender for updates or call in and speak to one of our traders – 020 3051 7461

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

• Aussie              AIG Performance of Construction index
• Japan               Official Reserve Assets
• Japan               Leading Index                                                        BETTER

See Live Macro calendar for all details

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

• John Lewis weekly department store sales up 17 pct
• Premier Foods sells Elephant Atta Flour for 34 mln stg
• AGA Rangemaster H1 sales, profit slightly lower
• Assoc British Foods buys Elephant Atta flour
• ABF picks up Elephant Atta from Premier Foods
• BC Partners sells Brenntag stake -sources

Morning Press Selection:

• Central banks attempt to stimulate growth – Bloomberg
• Greece euro exit likely in months – BBC
• QE not the answer – City AM