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

UK Index called to open flat at 6810pts having finished the day higher by 30 points in the previous trading session. Despite the rally in other European indices the UK Index struggled to test recent highs.

US Markets finished with the S&P 500 making another record close up by just 0.1% to 1959.48pts helped by Blackberry who jumped 9.7% following results. Having risen now for the fifth straight day this is the longest streak since April. The Dow Jones also finished higher in a choppy session, by just 15pts to 16,921pts as traders continued to digest Yellen’s comments and news that further troops had been sent to Iraq.

Asian markets fell from six-year highs after its longest run of weekly gains since August as technology and material stocks led the way. The Nikkei was down 10pts to 15,353 and the ASX down over 0.8% as traders look to take risk of the table ahead of the weekend and Chinese PMI out Monday morning.

In focus today we have the Lloyd’s TSB IPO which starts conditional trading this morning. The IPO will be priced at 260p and it was announced that a 38.5% stake will be sold, higher than expected following strong demand. Elsewhere Shire has rejected a £46.26p bid from US drugmaker Abbvie.

Commodities: Brent Crude holds near $115 heading for its second weekly gain on increased risks of supply disruptions from Iraq. Gold drops from a two month high of $1,322 but still set for a third week of gains as expectations of borrowing costs in the US will remain low, fuelling demand for bullion.

FX: GBP  rose to a five and a half year high of $1.704 against USD after the FED said it would keep interest rates near zero while the UK is close to increasing borrowing costs. Dollar gauge approaches a one month low of 1,0009.31 according to the Bloomberg dollar index.

Remember that TSB IPO starts trading today. The IPO price was set at XXXXX. You can start trading TSB today on your Accendo Markets platform with only a 10% deposit. Call for more info – 020 3051 7461/

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – all part of the service.

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

• NZ                          Consumer Confidence                   IN-LINE
• EU        German Producer Prices        WORSE

See Live Macro calendar for full details

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

• BP issues additional shares as alternative to Q1 dividend
• Balfour Beatty reaches financial close on Texas housing project
• AbbVie says Shire rejected bid approach
• Exillon says average daily production for May 17,847 barels per day
• Cupid says first-half revenue to miss co's expectations
• Debenhams Q3 sales rise slightly
• Lloyds sells more shares in TSB listing than originally expected
• Allied Minds prices IPO at 190 pence per share