UK business confidence reaches 13-month high

Business confidence in the UK is at its highest point since May last year, according to a new report.

The Optimism Index by the accountancy and business advisory firm BDO moved higher for the fifth consecutive month in June.

BDO said confidence in both services and manufacturing firms had increased.

However, it added that the figures remained fractionally below the level which would indicate the economy was expected to grow.

BDO said that despite growing confidence, pressures such as volatility in the eurozone, "belt-tightening" by UK consumers and a signalling by the US Federal Reserve that its stimulus measures may taper off later in the year are weighing on business optimism going forward.

German Trade Balance 14.1B 17.4B 17.5B

Worth a listen at 9 this morning, although I doubt there is much we don't already know.

A Dark Magic

Can't.. I'm on holiday -):

FTSE100 firmly higher early on with ARM leading the charge

EUR Sentix Investor Confidence -12.6 -11.5 -11.6

German Industrial Production m/m -1.0% -0.5% 2.0%

FTSE100 firmly higher at midday, with RBS the star turn

Euro zone nears deal on lifeline for Greece

BRUSSELS | Mon Jul 8, 2013 3:22pm BST
(Reuters) - With fresh promises from Greece to redouble its reform efforts to keep international financial aid flowing, euro zone finance ministers will decide on Monday if Athens gets the cash it needs all at once or by drip feed.

There will also be warning shots to Portugal to ensure that its economic reforms stay on track despite political stress.

FTSE100 ends sharply higher with RBS the star performer