This morning in London: The FTSE 100 is currently down seven points at 6780.
FX and commodities: GBP/USD is up 20 pips at $1.6658, EUR/USD is down 14 pips at $1.3683 and USD/JPY is down eight pips at ¥103.15. Brent crude is up 12 cents at $107.67 and gold is trading at $1258, down $5.
Stocks: Royal Mail reported a 2% increase in like-for-like sales over the nine months until the end of December.
The day ahead: Italian retail sales are due out at 9am, followed by UK mortgage approvals at 9.30am.
All figures correct at 8.30am. All times London time.