Asian markets are higher this morning after data released out of China showed the largest expansion in manufacturing for 16 months. Elsewhere, Australian manufacturing data cam out better than expected ahead of tomorrow's rate decision.

European equity futures are firmer by around 70bps boosted by better Asian economic data, today we have Eurozone factory output data. In corporate news, weekend press suggested that Verizon have agreed a price for Vodafone's stake in their mobile joint venture of around $130bn, with a formal announcement expected today.

US markets were slightly lower on Friday ahead of markets being closed for labour day today, equity futures are firmer on better global macroeconomic data.

Philip Ball | Sales and Trading