Asian markets were lower this morning dragged by China's Shanghai Composite and the Nikkei, with the Yen slightly firmer. In Japan, camera maker Nikon fell almost 20% after cutting their profit guidance whilst Mazda climbed over 10% after raising theirs. Australia's equity market reversed early session losses after releasing better than expected employment data.

In Europe today, the highlight will be the ECB meeting, however before that all eyes are on Spain for a significant bond auction, also look out for UK and Germany industrial production data. Equity futures are slightly firmer this morning after losses yesterday. Credit Suisse, Alcatel,  Sanofi, Daimler and Telecom Italia are among names reporting.

In the US markets reversed early session losses with talk that Apple were about to announce a dividend hike and share buyback program. Today we have jobless claims and consumer confidence data, and Philip Morris ($1.22), Sprint Nextel (44c loss), LinkedIn (19c) and Kraft (47c) are due to report.

Philip Ball | Sales and Trading