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

UK 100 Index called to open +30pts at 7050 maintaining the uptrend that began mid-September which could see the index rally back to 7130 month highs. With the psychological 7000 now proving supportive, Bulls will want to see the resistance at 7050 broken to begin a rally all the way to all-time highs, whereas the Bears will be hoping at the least for a break of 7000 in order to see the 6-week uptrend broken. Watch levels: Bullish 7060, Bearish 6995.

A positive opening call to begin the week comes as the USD maintains its strong footing and political developments in the UK over the weekend slightly ease fears of a so-called ‘hard’ brexit. Without major event risk this week (after the final US presidential debate and with no monetary policy updates) macro data and earnings will remain in focus for investors, with major UK Banks Barclays, Lloyds and RBS all reporting their Q3 earnings in the latter healf of the week. Note falling Oil prices may prove to be the thorn in the markets’ side today as the potential OPEC production freeze agreement in November comes into question.

Asian equities are mixed this morning, with Japan’s Nikkei up 0.3% on the back of stronger than expected (yet still negative) trade data. Hong Kong’s Hang Seng returns after Friday’s closure due to an incoming typhoon +0.3% while Australia's ASX bucks the trend, down 0.6%.

US equities  closed virtually flat on Friday despite a strong showing from the Technology sector, buoyed by Microsoft reaching fresh all-time highs, after a big Q3 earnings beat. Earnings season ramps up a gear this week and is likely to provide the majority of market movement in the coming days.

Crude oil prices are seen lower this morning, weighed down by comments over the weekend from Iraq’s Oil minister stating that Iraq should be exempt from any OPEC production cut deal and an increase in the Baker Hughes Rig Count on Friday is unlikely to help sentiment. Keep an eye out for any further rhetoric from other OPEC members throughout today. Gold remains pressured by prospects of a Fed rate hike before year end, especially with Democratic Presidential nominee Hillary Clinton seen to extend her lead in the polls.

In focus this morning will be PMI Manufacturing and Services figures from across the Eurozone, the first figures being released by France at 8am shortly followed by German figures at 8:30am. The headline Eurozone figures are released at 9am, with all six instalments seen flat. Any deviation from consensus could see movement in European FX markets. At 11am, UK CBI Industrial Trend data is released with expectations for a slight increase, yet still remaining in negative territory.

This afternoon’s relatively light US macro data comprises of the Chicago Fed National Activity Index at 1:30pm before today’s macro data is rounded off by US PMI Manufacturing data at 2:45pm.

A busy day for Fed speakers sees four members taking to the stand over the course of the afternoon, with speeches from Dudley, Bullard, Evans and Powell. Other notable speakers include the ECB’s Nouy and the SNB’s Jordan, while the German Bundesbank releases its BUBA Monthly Report at 11am.

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

• Petra Diamonds Q1 production jumps 30 percent to 1.1m carats
• GSK seeks U.S. approval for shingles vaccine Shingrix
• Plus500 Q3 EBITDA margin 43% vs 37% in H1
• Britain's Cobham downgrades profit forecast again
• Avocet Mining says shipment of gold seized at Inata mine
• Abcam commits to lease of facility on Cambridge Biomedical Campus
• Abzena makes two senior executive appointments
• Mcbride Q1 revenue -2.9% on a constant currency basis
• Sepura appoints interim Chief Executive Officer
• Unite Group to buy a development site in Sheffield
• Xtract Resources in talks over Manica mine
• John Wood wins multiyear contract on Hibernia in Canada
• Ultra Electronics unit wins contract with Lockheed Martin
• Gold Fields to invest $1.4bn in Damang gold mine
• London copper looks through dollar strength; tight China market supports
• Oil prices drop as Iraq says doesn't want to join OPEC cut