FX and commodities update: GBP/USD is up three pips at $1.5544, EUR/USD is down three pips at $1.3377 and USD/JPY is down four pips at Y96.67. Oil - Brent Crude is up 65 cents at $104.08, while gold is trading at $1310, down $3.
This morning in London: The FTSE 100 is currently up six points at 1697.
Stocks: Catlin announced a 37% drop in first-half net income.
The day ahead: In Europe, UK trade balance figures are due out at 9.30am, followed by the CB leading index at 10am.
In the US, wholesale inventories are due out at 3pm. All figures as at 9am (London time).