Asian markets mixed this morning with the Nikkei the standout performer up just shy of 1%. LG Electronics and Samsung were notable underperformers in Korea after EU fines were imposed on price fixing on no longer used cathode ray tubes used in TVs and computers.

In Europe, the Euro has traded a little lower in early trade after S&P cut Greece to a selective default rating. Today we have Eurozone GDP, UK trade balance data along with rate decisions out of the ECB and BOE, with the ECB conference call at 1.30pm. Equity futures are around 20bps  firmer.

In the US, markets reversed intra day losses to close higher on optimism of a fiscal cliff deal. Today we have jobless claims data and Bloomberg consumer confidence.

Philip Ball | Sales and Trading