Asian markets firmer with the exception of the Nikkei which trades just over 1% lower on a stronger Yen. Elsewhere, Australian and Korean markets surged higher with the former posting multi year highs after consumer confidence climbed the most in almost 2 years.

In Europe, equity futures are looking unchanged after posting modest gains in yesterday's session with Barclays a highlight rising around 9% at one stage. Today, Reckitt Benkiser, Heineken, Peugeot, Socgen, Tullow and Telenor have released their earnings, and for economic data look out for Eurozone Industrial Production and the BOE inflation report.

In the US, markets continued higher with the Dow closing above the psychological 14000 level. President Obama gave his first State of the Union address since re-election and vowed to begin talks on a trade agreement with the EU. Today we have advanced retail sales and earnings from Cisco (48c).

Philip Ball | Sales and Trading