This morning in London: The FTSE 100 is currently up 58 points at 6683.
FX and commodities: GBP/USD is up 22 pips at $1.6813, EUR/USD is up ten pips at $1.3803 and USD/JPY is down ten pips at ¥102.51. Brent crude is down eight cents at $109.91 and gold is trading at $1289, down $1.
Stocks: GlaxoSmithKline will return £4 billion to its shareholders after it struck a deal with Swiss drug maker Novartis to exchange assets. Pharmaceutical company AstraZeneca is believed to be in takeover talks with Pfizer.
The day ahead: In the US, the house price index is due out at 2pm followed by existing home sales and the Richmond manufacturing index at 3pm.
All figures correct at 8.15am. All times London time.