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

UK 100 called to open up 30 points higher as bargain hunters come in after yesterday’s sell-off. Caution won’t be far behind however ahead of Mark Carney’s first meeting (Bank of England chairman) and European Central Bank meetings due later this morning. US markets are closed today for Independence Day.

Overnight in Asia, the Nikkei was recently down 25 points at 14,030 whilst the Hang Seng was up 354 points at 20,501.

In the US, the Dow Jones ended a shortened trading day (pre-holiday) up 57 points at 14,989 whilst the S&P was flat at 1,615. The gains in the Dow were due to better than expected weekly jobless claims which were released a day early due to Independence Day today. Employment figures came in at 188,000 vs expectations of 161,000).

In focus today earning’s wise will be trading statements from easyJet, Taylor Wimpey and Aer Lingus. Macro-data wise we have a fairly quiet day however all eyes will be on the UK Interest Rate decision at 12:00 as well as the ECB Rate Decision at 12:45. Other than that, we might have to join in with our US cousins’ celebrations today for any real excitement!

UK 100 rebounding this morning after yesterday’s sharp sell-off although 6,300 now remains the real short term resistance on the upside. 6,240 then 6,200 now become short term support on the downside however longer term upward trend remains in place.

In FX, the € headed south initially following troubles for Portugal’s coalition government however these losses rebounded by the end of the session once investors began speculating whether the US employment report will be strong enough to allow for less QE. The £ vs € is currently trading 1.17 whilst the $ is trading at 1.299 vs the €.

We saw Gold edge slightly higher as it’s ‘safe-haven’ status returned (ever so slightly) due to political tension in Egypt where President Mursi was ousted by military leaders as well as resignations within Portugal’s government. Gold currently trading up $1.5 at £1,254.

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

• Aussie      Building Approvals (MoM)             WORSE
• Aussie      Building Approvals (YoY)                WORSE

See Live Macro calendar for all details

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

• EasyJet June passengers up 1.9 pct to 5.54 mln
• Wood Group says secures major North Sea contract extension
• Dunelm Q4 sales dip, says FY profit to be in line
• Deltex Medical gets positive trial results
• Ultra Electronics wins 32 mln stg Indonesian deal
• Great Portland Estates net assets per share rises 10.7 percent
• Johnson Service sees 2013 results in line
• Galliford Try says FY in line, upbeat on new year
• Taylor Wimpey sees H1 operating profit margin improving to over 13 pct
• Balfour Beatty wins 200 mln stg highways contract
• BowLeven says First Oil commits $9 mln to East Africa unit
• Gulf Keystone appoints ex-Glencore chairman Murray to its chair