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

UK 100 called to open + 45 at 6848 following the lead from the Asian markets despite mixed macro-data from the US where Markit PMI beat expectations but Philly Fed disappointed due to the cold weather.  The Nikkei recouped yesterday losses and was higher by 2.9% as the Yen weakened, whilst the Hang Seng and ASX were both higher by 0.5%. US equity markets edged higher with the DOW up 92 points at 16133 in a trading session that saw almost a 200 point range.

In focus today we have UK Retail Sales at 9:30am and US Existing Home Sales at 15:00pm whereby the cold weather spell is expected to have another impact on this figure. Other than that it will be quiet on the data side. For latest update please contact your trader at Accendo.

With the UK 100 yesterday rallying to recoup most of its losses we start the session above the 6800 for the first time since January. With recent highs at 6870 just 30 points a positive boost from UK Retail sales could see this broken with 6800 providing support. Having seen the German DAX and US indices hit all-time highs in the past few months is it now time for the UK Index to follow and break 6940?

Commodities; WTI crude is set for its sixth consecutive weekly gain as the cold weather in US has increased the demand for heating fuels reaching $102.13 a barrel in Asian trading. Copper falls to one-week after Chinese manufacturing shrank more than estimated and FED minutes showed members are advocating further curbing of stimulus with LME dropped 0.4% to $7,155 a metric ton ($3.25 a pound). Gold retreats on speculation that the recent rally is curbing demand in Asia falling to $1,315.85 overnight.

Please note today is the final day to get involved in Vodafone payout following the sale of Verizon Wireless whereby this is the largest return of capital in corporate history. With holders set to receive both cash and Verizon shares (US or CDI) this could lead to a boost in money returning to the markets. For more information if you currently hold Vodafone or wish to take a position please reply to this email.

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)

No data of note

See Live Macro calendar for all details

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

• Shell agrees sale of downstream businesses in Australia to Vitol for about A$2.9 bln
• Rolls Royce wins $182.7 mln contract from U.S. Air Force
• GlaxoSmithKline says European regulators approve Anoro
• Legal & General makes first US investment management buy in $50.4 mln deal
• RBS expected to shed 30,000 more jobs
• Informa FY adjusted cont ops pretax profit up 3 pct
• Millennium & Copthorne Hotels revenue rises 35 pct