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

The UK 100 Index is called to open higher by 34pts at 6742 having closed just a point higher yesterday.

Gains registered by TV and telecoms stocks were offset by losses registered among the supermarkets.

Sky (SKY.L) finished the day as top performer adding 2.6%, closely followed by ITV (ITV.L) and BT (BT.A.L) as news of BT's approach for O2 sparked chatter of sector consolidation and between network and content providers.

J Sainsbury (SBRY.L), Morrison (MRW.L) and Tesco (TSCO.L) slumped to the bottom of the index yesterday with shares down between 2.7% and 4.3% - Traders choosing to reallocate cash in thriving sectors. The UK 100 Index has been rampant in recent weeks yet the sector seems unable to budge under the weight of its problems - Losing market share, dividend cuts, broker downgrades, capital raising rumours, store closures, cooking the books (Tesco)..... few reasons to buy here!

Be aware - at 09:30 today UK GDP data will be released.

US markets finished little changed despite US GDP being revised higher as this was offset by weaker US consumer confidence data. During intraday day trading the S&P hit a new record high before finishing marginally in the red like the Dow Jones. Apple became the first company to be worth $700BN having risen 60% year to date already.

Asian markets finished broadly higher helped by revised US GDP data, with the Hang Seng and ASX both positive by 1% helped by material shares, whilst the Nikkei pared early losses to finish just in the red as BoJ member Shirai confirmed she too voted for Kuroda’s QE expansion plans.

In commodities, gold traded near 3-week highs at $1199 an ounce as investors weighed increased stimulus versus higher US interest rates. Ahead of the OPEC meeting tomorrow, oil had huge swings with both Brent and WTI lower by almost 2% to trade near 4-year lows. With analysts split over whether OPEC will cut oil supply to combat falling prices, expect another volatile session as rumours could cause adverse movements.

Asian markets finished broadly higher helped by revised US GDP data, with the Hang Seng and ASX both positive by 1% helped by material shares, whilst the Nikkei pared early losses to finish just in the red as BoJ member Shirai confirmed she too voted for Kuroda’s QE expansion plans.

In commodities, gold traded near 3-week highs at $1199 an ounce as investors weighed increased stimulus versus higher US interest rates. Ahead of the OPEC meeting tomorrow, oil had huge swings with both Brent and WTI lower by almost 2% to trade near 4-year lows. With analysts split over whether OPEC will cut oil supply to combat falling prices, expect another volatile session as rumours could cause adverse movements.

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

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

• AU          Construction Work Done                              Miss
• CN          WESTPAC-MNI Consumer Sentiment     Miss, deteriorated
• JP            Small Business Confidence                          In-line, deflationary

See Live Macro Calendar for full data line-up, incl. consensus expectations

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

• Domino Printing Sciences appoints Sucheta Govil and Rachel Hurst as directors
• Mail.Ru says Qiwi Group to acquire payment service Money.Mail.Ru
• French Connection sees FY results in line with market expectations
• Telford Homes first-half profit rises 22 pct
• Quindell says FD Moorse's agreement with EFH terminated
• Wolseley Q1 profit rise on strong U.S., UK trading
• Thomas Cook says CEO Harriet Green to step down
• United Utilities H1 rev 859.4 mln
• Britvic full-year profit ahead of forecast
• Finsbury Food says sales up 3.9 pct in first four months of year
• Deutsche Telekom says in talks with BT over EE
• Kier raises 120 mln stg in U.S. private placement
• Compass Group year profits climb on U.S., emerging markets
• IP Group's Genomics raises 10.3 mln stg
• Igas Energy H1 rev 34.5 million stg
• Daily Mail says well positioned after strong full-year results