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

  UK 100 called to open up 3pts at 6760, having fallen just 14pts yesterday in a lacklustre session.

Yesterday equity price fluctuations were mostly modest bar the airline sector which saw shares in easyJet (EZJ.L) descend 6.4% after Bank of America Merrill Lynch published a damning 'Underperform' rating on the stock, accompanied by a lowly price target of 1150p - 20% lower than the price at the time.

International Consolidated Airlines (IAG.L), the amalgamation of British Airways and Iberia, felt the turbulence as traders cashed out of the sector. Shares fell 3.5%

Banking stocks spent another session in the red. Barclays (BARC.L) and Lloyds Banking Group (LLOY.L) the notable underperformers, both down 1.5%. Traders still lacking confidence to pick the shares up, even at these deflated levels, as Barclays gears up for another US lawsuit whilst French counterpart, BNP Paribas, agrees to pay a $9bn settlement with US prosecutors.

Forward looking, shares in Tullow Oil (TLW.L) and Persimmon (PSN.L) could be subject to larger than normal price movements today and tomorrow ahead of trading updates scheduled for tomorrow morning. Traders will be moving in and out of the stock as they attempt to second guess company results. Do you have a view on either stock? Is the oil or house builder sector where your cash should be?

US stocks followed Europe's lead and recorded a forgettable session. The Dow Jones falling just 25pts or 0.15%, the S&P 500 fell less than 1pt while the NASDAQ recorded a shallow gain of 10pts.

In Asian Markets shallow losses or gains were also witnessed apart from in Japan where the Nikkei 225 appreciated by over 1% as the Yen fell to a near six-week low versus the USD. The exporter nation's companies cheering the increase in foreign buying power.

In commodities, Gold  hit its highest levels since March 24 of $1337, as China’s HSBC PMI data came in slightly lower than expected of 50.7 v  50.8. Holdings in the SPDR, the biggest gold-backed exchange-traded product, also had its one-day increase since May 27. Copper prices hit a four month high having recouped all their losses from June. WTI traded at $105.3, near the lowest price in more than two weeks amid speculation that escalating violence in Iraq won’t disrupt supply from OPEC’s second-biggest oil producer. Brent was steady in London at $112.5.

In FX the yen fell from a six-week high against the dollar as Asian stocks gained, reducing demand for it its appeal as a safe haven. The Aussie dollar rose to its highest levels since April as the RBA kept interest rates at record lows.

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

• CH                          Manufacturing PMI                                         IN-LINE
• JP                           Markit/JMMA Manufacturing PMI          BETTER
• CH                          HSBC Manufacturing PMI                             WORSE

See Live Macro calendar for full details

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

• Fastjet names Nick Caine as CFO
• UK's Ocado swings to first half profit
• San Leon signs joint venture deal for Polish shale gas sites
• St. Modwen Properties first-half profit rises 32 pct
• Premier Oil sells Indonesian subsidiary for $40 mln
• Ithaca Energy prices $300 mln senior notes