This morning in London: The FTSE 100 is currently ten points higher points at 6126.
FX and commodities: GBP/USD is down 58 pips at $1.5360, EUR/USD is down 21 pips at $1.3099 and USD/JPY is up 50 pips at Y98.40. Oil - Brent Crude is down 99 cents at $99.98 and gold is $14.20 lower at $1277.
Stocks:The confusing picture at Eurasian Natural Resources continues with the board of the major shareholder Kazakhmys stating that there will back a buyout of the troubled company. Lloyds Banking Group has asked the European Commission for an extension to the time limit in order to sell hundreds of its branches as part of the government bailout; with the collapse of the Co-op deal buyers have been hard to find. Vodafone look set to acquire Kabel Deutschland for €7.7 billion, a tie-up which should improve the company’s cable and broadband offerings.
Latest news: Equity traders look to have started the week in the same nervous manner as they closed last. The UK will be anxiously waiting to hear where the government plans to trim £11.5 billion from its budget and which contractors are likely to suffer on the back of that.
Having for so long been forced to the back of our minds, the situation in Greece is once again coming into focus and with bond yields continuing to rise the stability of Portugal, Spain and Italy will also be closely monitored.
The day ahead: There’s a scarcity of economic data out today with the German Ifo business climate the sole release of note.All figures as at 8.30am (London time).