This morning in London: The FTSE 100 is currently down 15 points at 6858.
FX and commodities: GBP/USD is up five pips at $1.6761, EUR/USD is down ten pips at $1.3536 and USD/JPY is down five pips at ¥102.29. Brent crude is up 27 cents at $109.78 and gold is trading at $1261, up $1.
Stocks: Sainsbury’s quarterly figures have dropped again as CEO Justin King makes his final presentation before stepping down after 10 years at the top. Emirates Airlines cancellation of its Airbus order will result in a £2.6 billion hit to Rolls Royce along with sending shockwaves through the sector. Speculation has increased that Lonmin, the South African miner, will soon need to raise capital as the ongoing strikes by its work force have badly affected revenue.
The day ahead: The UK unemployment rate, average earnings and claimant count changes are all released this morning. This afternoon will see the release of crude oil inventories and the US federal budget, while over the course of the day OPEC will be meeting in Vienna.
All figures correct at 8.30am. All times London time.