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

UK 100 called to open -15 points at 6790 after another strong day seen in the UK markets yesterday and as traders wait for key UK data due out at 9:30am this morning (see below)

In the US, a mixed day for equities with the Dow Jones closing down 23 points at 16,130 whilst the S&P closed unchanged at 1,840. The Nasdaq however, hit fresh 13 month highs closing up 28 points at 4,272, led higher by shares in Tesla.

In focus today macro data wise, we UK jobless claims at 9:30am where expectations are for a drop in claims by around 4,000 (-24,000 was the previous figure). Also at 9:30 from the UK, we have Bank of England Minutes as well as claimant count rate, average weekly earnings and the employment change. Please get in touch with your Accendo Markets trader to help you digest these figures as and when they come out. Later in the afternoon, we have mortgage applications at 12:00 from the States as well as housing starts, building permits and PPI figures at 13:30. Fed minutes at 19:00 this evening will also be one to keep an eye out for.

Results today: Galliford Try (GFRD.L) Interim dividend up 25% to 15p p/sh. Group revenue £803.5m, up 18%. H1 profit before tax £38.1m, up 18%. New £400m five year unsecured bank facility. Confident of meeting the board’s expectations for the full year. Monitise (MONI.L) – H1 revenue rose 67% to £46.5m. Margins at 73% versus 72% a year ago. EBITDA loss of £10.2m. See’s the need for continued investment as they look to maximise growth opportunities, but reiterates full-year guidance.

The rally seen in the UK Index yesterday means we’re still within an upward channel looking at the one year chart, although we are now starting to approach the upper end of this range. One-week highs just above 6800 become first levels of resistance to the upside whilst on the downside, support at 6725, 6675 and then 6630.

In commodities, Gold continued its retreat from three month highs amid speculation that minutes tonight from the Fed will show policy makers backing further stimulus cuts trading as low as $1312 yesterday. In the near term keep an eye to see if the $1300 level will hold up and prove support for gold. WTI traded above $103 for the first time in four months, as the cold weather spell continues and speculation of a decrease in inventories. Having rallied over 5% this month next stop for WTI will be resistance levels at $105 handle.

In FX the yen continues to weaken against both the dollar and euro following the BoJ actions yesterday with USD/¥ trading at $102.2. The dollar also traded at a seven-week low versus the euro ahead of Fed minutes tonight at $1.376.

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

• Aussie      Skilled Vacancies                IN-LINE
• Aussie      Wage Cost Index                 BETTER
• China       Feb Business Indicator        WORSE
• Japan       Leading Index                     IN-LINE

See Live Macro calendar for all details

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

• Galliford Try profits up 18 pct, confident of meeting full-year expectations
• Monitise reports first-half EBITDA loss of 10.2 mln stg
• Sports Direct on track after solid Christmas quarter
• Anite says Q3 in line with expectations