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

UK 100 is called to open 30 points lower this morning being dragged down by losses in US and Asian markets overnight. The Dow Jones closed down 83 points at 12,653 whilst the Nikkei was was recently down around 40 points at 8,818. It was a mixed day yesterday as stocks first reacted well to Euro finance ministers agreeing the terms on a Spanish bailout package for banks. Moods then quickly changed after Germany’s high court delayed their decision on whether participation in the bailout fund is constitutional.

In the commodities market, US light crude is still trading near one week lows at around $84.60 a barrel. Metals continued to trade in a tight range as caution ahead of this week’s GDP data from China continued. Gold trading around $1,576.

Keep an eye on the following stocks as they update the markets with either AGM’s of trading updates; Burberry, ICAP, J Sainsbury, BT, Hays, JD Wetherspoon. In the US, hotel chain Marriot International will update the markets on their Q2 results.

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

• Aussie              Investment Lending             WORSE
• Aussie              Consumer Confidence         IN-LINE
• Aussie              Home Loans                          WORSE

See Live Macro calendar for all details

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

• Hays says recruitment markets getting tougher
• ICAP broking slowdown hits quarterly revenue
• Shell buys Norwegian LNG firm for $74 mln
• CVS sees FY in line, says FD to step down
• Barratt sees FY group revenues up 14 pct
• Burberry Q1 revenue up 11 pct
• Glencore buys Vale’s European manganese ferroalloys operations
• Ferrovial’s BAA June passengers up 0.7 pct
• Britvic sees 15-25 mln stg impact from Fruit Shoot recall
• Avanti says remains on course for Hylas 1 and 2
• Xstrata sets Sept date for shareholder vote on Glencore