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

UK 100 called to open +30 this morning following markets in the US and Asia overnight as well as better than expected macro data. Australian retail sales came in at 0.9% vs 0.4% expected as well as Net Exports which also beat expectations. In Japan, Labor Cash Earnings  came in at 0.7% vs -0.3% expected, helping the Nikkei to push on by 25 points at 11,711. In China, HSBC Services PMI data came in at 52.1, pretty much in-line, leaving the Hang Seng up by 22 points at 22,560. In the US, the Dow Jones closed up 38 points at 14,128 whilst the Nasdaq was up 12 points at 3,182.

The British Retail Consortium reports that UK retail sales values were up 2.7% on a like-for-like basis from February 2012.

In focus today, will be Services PMI (purchasing managers index) data from Spain/Italy/France/Germany/Eurozone and the UK. The first one will be from Spain at 08:13. This is a monthly survey of purchasing managers that measures their views on business outlook in services sector. Responses recorded by survey used to compile index (between 1 and 100), with growth above 50. Services industry represents significant portion of GDP and gives some clues as to health of economy. Click on our ‘dictionary’ for a full explanation of this and other data.

In FX, Sterling recovered a little, bouncing off one-week lows to trade at 1.51 vs the USD and towards 1.16 vs the EUR.

Better data from Australia and Asia helped stop the sell-off in commodities, with Gold currently up $8 at $1582. In Oils, US Light Crude still below support of $92, currently trading at $90.89 a barrel. Brent Crude followed suite, trading flat at $110.50.

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – all part of the service.

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

• Aussie              Retail Sales                 BETTER
• Aussie              Current Account          BETTER
• Japan               Labor Earnings            BETTER
• China               HSBC Services PMI      In-Line
• Aussie              Rate Decision              In-Line

See Live Macro calendar for all details

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

• Impairment hit drags Xstrata profit down 79 pct
• Rotork FY revenue rose 14 pct to 512 mln STG
• Regus Plc full-year profit rises
• Meggitt profit up 12 pct on energy, areo growth
• Jardine Lloyd Thompson profit up 17 pct
• Moneysupermarket.Com Group FY earnings rise 26 pct
• Vodafone launches motor insurance pilot
• Glencore, Xstrata profits down as impairments bite
• PACE says FY 2012 pretax profit $80.1 mln
• Rental firm Ashtead lifts profit target as U.S. booms