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

UK 100 Index called to open down -80pts at 6400, taking another leg down, to trade at lowest levels since late October. With continued concerns of a global slowdown and no real resistance technically, will the lows of 6100pts be reached again. With the Greek index falling over 8% yesterday, the term “Grexit” was being mentioned again for the first time in a long causing futures on all European bourses called sharply lower.

The US equity markets finished with modest gains as retail sales beat expectations, with the Dow +0.4%, and the S&P +0.5%. During early trading US markets were showing in excess of 1% gains before profit takers jumped in. The markets were not helped by the continuing decline in WTI, falling below $60 for the first time since July 2009.

Asian markets were mixed with the Nikkei gaining ahead of this Sunday’s snap election, supported by the weaker Yen. Elsewhere the Hang Seng and ASX was dragged down by commodity shares, as Chinese Industrial output came in lower than expected.

In focus today will be the Greek markets once more and fears of contagion risk once more. Sounds like déjà vu of the Eurozone debt crisis again. Will Draghi be forced to take action now rather than later?

In commodities, gold fell slightly but continued to trade above the $1220 handle as investors may now be looking for a safe haven to put their cash. WTI trading below $60 has now fallen 9% this week alone and is down by 45% from the June highs of $107. Brent followed suit, down to $63 a barrel, trading lower by 43% this year. Clearly out of favour will some analyst calls of $40 be right?

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

• Japan                    Industrial Production                      Improved
• China                     Retail Sales                                         Better
• UK                          Industrial Production                      Worse

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

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

• Optimal Payments says CFO steps down, appoints replacement
• Builder Bellway sees operating margin up as demand remains strong
• SSE pays Ofgem 1.75 mln stg for environmental obligation delays
• Avocet Mining says strike at Inata mine ends peacefully
• Carillion issues new bonds worth up to 180 mln stg
• UBM expects Advanstar deal to be completed in December 2014
• Rockhopper expects Italian onshore gas field to start up in late 2015
• United Utilities - Ofwat publishes Final Determination for UUW