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European equity markets are set to open some 0.5 percent higher, with FTSE 100 futures advancing 35 points overnight. Minutes from the BoJ together with positive sentiment from yesterday’s manufacturing gauge are helping persuade investors that theme of underlying economic strength and liquidity is indeed still here. The S&P also closed out a strong session, again within a hairs breadth of all-time highs. 

Here in London, equity market participants will turn to news that RBS intends to cut 30,000 jobs while Rolls Royce wins a US Air Force contract worth $182.7m. Somewhat an important point of confidence for RR, winning a contract shortly after losing 10 percent of its share price will likely help support the price so long as the market hasn’t already moved to anticipate the information. Later today PSNB and retail sales for the UK will be released, followed by US existing home sales.

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