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

The UK 100 called to open a mighty 5pts down at 6653 after lacking any direction from the US after yesterday’s Thanksgiving holiday. In yesterday’s quiet day of trading where we saw the UK Index gain 5 points, the only real surprise was Mark Carney’s (governor of the Bank of England) actions to try and curb house prices and debt risks, sending house builders such as Persimmon lower.

In Asia, the benchmark stock index headed for the first monthly loss since August as GrainCorp Ltd. (GNC) plunged by a record (22%) after the Australian government rejected a takeover bid by a U.S. rival. Japanese inflation rate also rose by the most in 15 years in October, and industrial production figures disappointed, helping to push the Nikkei from its six year high to 15,661. The Hang Seng was up 76 points at 23,865.

In FX, Sterling is now higher against the dollar than it was at the end of 2012, currently trading at 1.63 vs $. Australia’s dollar fell to a 2 1/2-month low, heading for its sixth weekly drop, after the government’s rejection of a planned foreign takeover raised concern investment flows into the country may weaken currently trading at 0.91 vs the US $.

A quiet day today, in focus we results from Acal, Frontline, Max Petroleum and RPC Group. Macro-data wise, keep an eye on Mortgage Approvals from the UK at 9:30 this morning as well as CPI data from the EU at 10am.

After the third day below 6660, this level may be the new 6700 bugbear. Falling highs from end-October may have been replaced by breached rising lows from mid-month at 6670. Potential sideways move on account of US holiday and leading to thinner volumes both today and tomorrow remain once again (broken record I know!!).

Gold prices head for the biggest monthly drop since June and approach this year’s low on speculation the Federal Reserve will curb stimulus as the economy strengthens. Eighteen analysts surveyed by Bloomberg News expect prices to fall next week, nine are bullish and three neutral. Gold still holding around $1242 after a failed test of $1250 falling resistance.

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

• UK            GFK Consumer Confidence             Worse
• AUSSIE     Private Sector Credit (MoM)          Worse
• NZ            Money Supply M3                           In-Line
• JAPAN      Housing Starts                                 Better

See Live Macro calendar for all details

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

• Lloyds appoints Juan Colombás as an executive director
• Halma increases and extends banking facilities
• Hammerson raises $443 million in US private placement deal
• Premier Oil to issue at least 100 mln stg of bonds
• JD Sports Fashion on course to meet year expectations
• Sunderland City Council picks Carillion as partner for 800 mln stg contract
• Bumi says satisfied with chairman’s financing for split deal