1022: Shares of Thomas Cook are again moving up today after analysts at Credit Suisse initiated their coverage of the company with an outperform rating and a 36p price target. Shares of the company may also be benefiting from news of purchases made by two insiders. Home retail is leading gains on the FTSE 350 after analysts at Bank of America upgraded their view on the company’s shares to buy from neutral. FTSE 100 up 14 to 5,883.

0947: The Spanish Treasury has just announced the sale of approximately 4.25bn euros in debt, less than the 4.5bn euros it had targeted.

0930: UK services PMI fell back to 50.2 in November (Consensus: 51), after a reading of 50.6 in the previous month.

0900: ‘Tesco’s third quarter update confirmed strong progress in UK food sales and a review of US operations. The latter could well drive small mid-term upgrades, and is an encouraging confirmation of management pragmatism. Prospects for 2013 look increasingly supportive,’ analysts at Jefferies are saying this morning. Leading the fallers on the Footsie are Aberdeen Asset Management, SAB Miller and Severn Trent after going ex-dividend. FTSE 100 up 30 to 5,899.

0858: The Eurozone purchasing managers’ index for the month of November rose to 46.7 from 45.7 in the previous month (Consensus: 45.7). The euro/dollar cross is over the 1.31 mark, a level of technical resistance some analysts have been watching closely.

0830: UK stocks have begun the day comfortably higher. Tesco is leading the pack on the top share index on news that it will conduct a strategic review of its US business. Yet as a group miners are again strongest. Although the latest Chinese services PMI data has come out a tad weaker than last month investors opted to take their cue from Chinese authorities, who this morning said that they will promote domestic demand and urbanisation. Meantime, and in the US, the latest news regarding the fiscal cliff has President Obama issuing an ultimatum to Republicans. There will be no deal unless rates go up for the highest earners he told Bloomberg. At 09:28 Markit will release the services PMI survey for November. Barclays expects the headline business activity index to pick up slightly to 51.5 (consensus 51.0), from 50.6. It believes that October’s index overstated the degree of weakness in activity. At 12:30 Chancellor Osborne delivers the 2012 Autumn Statement. FTSE 100 up 27 to 5,896.