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This morning in London: The FTSE 100 is currently down 24 points at 6850.
FX and commodities: GBP/USD is up five pips at $1.6808, EUR/USD is up three pips at $1.3595 and USD/JPY is down 24 pips at ¥102.27. Brent crude is down three cents at $109.95 and gold is trading at $1254, up $2.50.
Stocks: Tesco has announced that it will be moving into the banking arena following its successful move into the UK credit card market. They now have 12% market share of UK credit cards and are looking to replicate this with a stand-alone banking arm. BP has failed to overturn a US Supreme Court ruling over claimants following the 2010 Gulf of Mexico disaster. Ted Baker has posted solid sales figures in its latest trading update.
The day ahead: Overnight, Chinese inflation figures have edged higher while the UK market awaits both industrial and manufacturing production figures this morning, before turning their attention to the US wholesale inventories figures.
All figures correct at 8.10am. All times London time.