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

UK 100 called to open flat to marginally lower this morning as equity markets around the globe were pretty mixed. The UK Index looks set to open 5-6 points lower at 6,656, will cupid be in the air today??

In the US, markets saw modest as gains better-than-forecast earnings and a $45.2 billion takeover of Time Warner Cable overshadowed a drop in retail sales. The Dow Jones added 63 points at 16,027 whilst the S&P added 10 points at 1,829.

Overnight in Asia, an unexpected and unexplainable turn around mid-session left the Nikkei trailing by 221 points at 14,313. Some analysts suggest this sudden turnaround was due to technical reasons (75 day moving average crossing the 25 day, a bearish technical signal). Others are saying this drop was in anticipation of the BOJ’s meeting next week, preliminary Q4 GDP release and trade figures update. The Hang Seng however remained in positive territory, closing up 106 points at 22,271.

In focus today we have Eurozone GDP data released at 10:00am expected to show an improvement QoQ to 0.2%. Having seen German GDP out first thing better than expected will this follow suit. With Yellen’s testimony cancelled yesterday due to bad weather and a lack of data it helped push the US markets higher with modest gains. Today all eyes will turn to US Industrial Production at 13:30pm and U. of Michigan Confidence out at 14:55pm.

Results today: Coca Cola HBC AG (CCH.L) Q4 Comparable net profit at €34m up 54% Q4 comparable EPS €0.09 up 50% however they are cautiously optimistic. Anglo American (AA..L) Registers 6% rise in underlying operating profit to $6.6bn ahead of a Thomson Reuters analysts poll of $6.3bn while underlying earnings fell 7% to $2.7bn. Trading Statement: Seven Trent (SVT.L) Sees 6% rise in dividend underlying pretax profit lower Y-o-Y.

The UK 100 continues to trades within the range of 6600 and 6700 with these levels proving to be tough barriers to break. A significant break could see 6800 on the horizon. The same could be said of the Dow testing the 16000 level again in the futures markets before coming back down. If data out in the afternoon is good, next stop is 16200.

In commodities, we have continued to see a push higher in Gold to $1310 last seen on the 8^th November, disregarding the bearish comments yesterday. Now clearly back in favor with investor the precious metal has rallied over 5% in the last 2 week alone and has broken above the 200 day moving average which should now serve as support. Silver echoed similar moves now set for the longest rally since March 2008 trading at $20.80. Keep an eye on the commodity related stocks such as Randgold Resources and Fresnillo that could track these prices higher. WTI continues to hold modest gains trading at $100.30 heading for a fifth weekly gain.

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

• China       PPI                                               IN-LINE
• China       CPI                                               BETTER
• NZ            Resident Bond Holdings      IN-LINE

See Live Macro calendar for all details

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

• BP must face shareholder suit over 2006 Alaska oil spill
• Lloyds ex-boss may lose bonus over insurance scandal – Times
• Lenta sets price range of between $9.50-11.50 per GDR for IPO
• Severn Trent full-year dividend to rise 6 pct year on year
• Kenmare agrees restructuring of Mozambique project financing
• Severfield Rowen trading in line, sees UK pick-up
• Vodafone India acquires spectrum for 1.9 bln stg
• Hikma Pharma estimates 2013 revenue growth of 23 pct
• Russia’s X5 forecasts faster sales growth in 2014
• Coca Cola HBC “cautiously optimistic” after Q4 net profit rise
• Pennon says on track to meet management expectations
• Anglo’s revamp plan boosts 2013 underlying earnings