0930: Consumer prices rose at a 2.7 per cent rate in January, the same as last month and as expected, according to ONS.

0908: Shares of Barclays have moved into the lead on the Footsie following the result of its strategic review. Investec is out with a note reiterating their buy recommendation on the shares, while placing its target price under review. This is part of what their analysts had to say: ‘As such, looking through management jargon, it is surely little wonder that Bob’s successor, Antony Jenkins, rightly plans to secure, and build upon the improving shareholder economics of Barcap. Shredding? Don’t make me laugh! Barclaycard 1.5bn pounds (+25 per cent year-on-year) was strong.

0830: UK stocks have begun the day slightly down, tracking Wall Street lower. That follows news of a North Korean nuclear test overnight and comes despite dovish remarks from Fed Vice-Chairman Janet Yellen. ARM Holdings and Barclays are leading gains, with the latter having unveiled the results of its strategic review. Burberry is also on the rise on the back of positive results out this morning from Hermes. Consumer price data for January are published at 9:30 and economists seem to be somewhat split between those who expect upwards surprises or downward surprises. The consensus expects a 2.7 per cent year-on-year gain (Previous: 2.7 per cent). No major data releases are expected this afternoon Stateside. Nevertheless, several Fed speakers are slated to give speeches throughout the day, as is the European Central bank’s Mario Draghi, who is in Madrid today. FTSE 100 down 12 to 6,265.