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

The UK 100 Index is called to open lower by 27pts at 6885pts extending Friday's decline of 49pts.

Trading was steady ahead of Friday afternoon's non-farm payroll figures from the US, however better-than-expected jobs data, although good news for the economy, got traders' tongues wagging about a rate hike from the Federal Reserve coming sooner rather than later.

The seemingly stronger US economy, coupled with a potential rate hike, pushed gold out of favour. The safe haven metal fell over $30 from $1200 to sub-$1170.

Main listed precious metal miners took the hit. Randgold Resources (RRS.L) and Fresnillo (FRES.L) both fell in excess of 5% on Friday, resting at the foot of the index.

On a brighter note, Weir Group (WEIR.L) was the standout performer on the UK 100 , up over 4% as The Mail cited a private equity consortium was preparing a 2500p break-up offer.

ITV (ITV.L) gained for a second day following its latest trading update and declaration of special dividend. At least six brokers have upgraded their rating on the stock, the most notable coming from influential broker Goldman Sachs, adding ITV to its 'Conviction Buy' list.

US trading was soggy to say the least, traders took chips off the table on the threat of a rate hike. The rush for the door led to a slump of 278pts for the Dow Jones.

Asian trading followed suit, the Nikkei 225 the notable underperformer, down 180pts or 1%.

Eyes will be back on Greece again this week. Greece's provisional agreement with creditors to avert a default started to crack as European officials said the country’s latest proposals fell far short of what was put forward two weeks ago and Greek ministers floated the prospect of a referendum if their reforms are rejected.

Never a dull moment.

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

• China                      Trade Balance                    Beat
• Japan                      GDP                                       Miss

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

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

• Tungsten Bank launches deposit offering
• Gemfields says H1 EBITDA rises to $61.7 mln
• Abcam H1 rev up 7.8 pct
• Arcadis says to perform global support services for Shell
• WPP enjoys strong January trading after hitting 2014 target
• UBM says Tim Cobbold resumes role as CEO with immediate effect
• Vodafone launches M-Pesa payments between Tanzania and Kenya
• Antofagasta sees copper output 5,000 tonnes lower due to protest
• Moguldom says to float on AIM
• Whitewood REFF says intends to raise up to 125 mln stg via IPO
• Hansteen posts FY profit of 131.2 mln stg
• Balfour Beatty selected for 300 mln stg Thames Estuary contract
• Maintel Holdings FY rev rose 35 percent
• Telecity Group and Interxion reach definitive agreement on all – share merger
• Gemfields' core profit more than triples as auction sales rise
• Clarkson FY pretax profit 25.2 mln stg