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

UK 100 Index called to open +40pts at 7415, back above 7400 thanks to a bullish double-bottom from Friday’s 7360 lows. This has helped overcome September falling highs and opens the door for a return to 7440-7460 highs. Bulls need Thursday’s 7415 highs to be bettered. Bears want to see the index back testing 7400. Watch levels: Bullish 7420, Bearish 7400

Calls for a positive start to the new trading week after North Korea avoided further provocation during its Founding Day celebrations (despite US calls for a ban on selling it oil/gas, a clear attempt to get China to help more) - and Hurricane Irma’s strength was downgraded as it hit Florida.

This helpful combo has seen a return of risk appetite and corresponding fall in demand for safe havens. Equities and base metals thus called higher at the expense of Gold, Silver, bonds, the Japanese Yen and Swiss Franc.

Asian bourses higher versus a mixed-to -down day for Wall St on Friday. Japan’s Nikkei outperforms thanks to Yen weakness helping Financials and a bounce for oil boosting Energy. Australia’s ASX is also higher despite hindrance from Miners impacted by Friday’s pullback in material prices.

UK Index corporate news includes AstraZeneca reporting positive results of a pair of phase 3 lung cancer trials. Vodafone Germany is to Invest €2bn in broadband services by 2021. Assoc. British Foods improved full year outlook, helped by GBP devaluation, Primark performed well in UK.

US equity markets closed mostly lower on Friday ahead of the US landfall of Hurricane Irma as Insurance, Energy and Tech names weighed. The latter saw the Nasdaq underperform peers, down 0.6%, while the S&P 500 also fell as Energy names suffered in the face of a forecast Irma-induced demand reduction. The Dow Jones outperformed, closing 0.1% higher as The Traveler's and Boeing led risers.

Crude Oil prices are in recovery mode having dropped on Friday in expectation of Hurricane Irma’s US landfall. US Crude was particularly affected, dropping 3.2% over the course of Friday, as investors expect a drop in demand as a result of Irma. Brent crude, while less impacted, still finished 1.4% lower on Friday, however has regained a $54 handle overnight, while its US counterpart has bounced from $47.50 towards a $48 handle.

Gold has retreated from Friday’s 13-month high as fears that North Korea would undertake a missile test over the weekend proved to be unfounded. The precious metal has fallen around $20, or 1.6%, from its $1357 high as safe-haven demand abates, however it remains above last week’s lows of $1325. Geopolitics and the US dollar will likely drive sentiment for gold throughout the day.

In focus today will be the UK Parliament vote on the Repeal Bill, expected to take place in early hours of Tuesday morning. The second day of the reading of the bill will take place throughout the day, with the potential to provide a significant number of Brexit-related soundbites, particularly when the subjects of the exit bill, immigration and access to the single market are concerned. So far no firm figure has been set for the UK’s departure, however the EU is averse to furthering negotiations until an amount has been agreed.

The government hopes that the Bill will allow for an agreement to be fast-tracked, however with a slim commons majority, it may not be as easy as that for the PM. The official Tory position is to support the bill, while the opposition Labour party position is to vote against it. However, will MPs feel obliged to vote in-line with how their constituents voted in last year’s referendum? If so, some high profile party shake-ups could be in the offing this week.

Elsewhere, the macro calendar is noticeably light, with data comprising only Canadian Housing Starts (1:15pm) while the lone central bank speaker of note is the ECB’s Cœuré (8am) providing the opening remarks at an ECB workshop entitled “Monetary Policy in non-Standard Times”.

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

• AB Foods' Fashion Arm Primark Lifts Underlying Growth
• KAZ Minerals Appoints John Hadfield Chief Financial Officer
• AstraZeneca Reports Positive Results of 2 Lung Cancer Trials
• Vodafone Germany to Invest €2B in Broadband Services
• Mosman Oil and Gas Welch Permian Basin Project Acquisition - W Texas
• Petra Diamonds Limited Update re. Operations in Tanzania
• Derwent London Derwent London secures further major pre-lets
• Carillion announces Zafar Khan, Group Finance Director, left with immediate effect.