Asian markets are weaker this morning after data released out of China showed that manufacturing growth is slowing. The Shanghai Composite is down almost 3%. Elsewhere the Yen is firmer after failing to breach the 100 level.
European equity futures are around broadly flat ahead of Eurozone manufacturing data. The EC may allow a Spanish 2013 budget deficit of 6.5% from the current target of 4.5%, according to sources.
In the US, markets rallied off session lows to close in positive territory last night despite weaker than expected housing data. Futures are lower by around 40bps, ahead of key earnings today from Apple($9.97), AT&T (64c) and United Technologies ($1.3).
Philip Ball | Sales and Trading