Market overview: Charles Stanley reiterates hold on SSE

1551: Broker Charles Stanley has reiterated its hold stance on shares of SSE.

1500: IBM is making headlines today on reports that it could fire over 100,000 staff, which is approximately a quarter of their workforce.

1247: According to OPEC’s Secretary General, El Badri, oil has reached its floor and may rebound soon. The heavy snowfalls expected in the US mid-Atlantic region may also be lending a hand to energy futures.

1216: Speaking on Saturday at the World Economic Forum in Davos, Switzerland, Bank of England Governor Mark Carney said markets may be underestimating for how long oil prices might stay low - thanks to the on-going technology revolution in energy.

1215: Front month Brent crude futures are falling by -1.2% to $48.21 per barrel on the ICE. In a note sent to clients on Friday Barclays Research detailed the growing glut of oil being stored offshore which could act as a brake on any recovery in the price of crude later in the year.

1100: Analysts at Bank of America-Merrill Lynch have upped their view on shares of Betfair to ‘buy’ from ‘neutral’.

1030: Diamond mine operator Petra Diamonds saw sales jump by 16% in the first six months of the year, to reach $214.8m, but warned that it may not meet analysts' expectations for full-year profits. In its trading update the mining outfit explained that in the reporting period the market for rough diamonds had been softer than usual.

1000: Three-month copper futures were down 2.7% to $5,510 per metric tonne out on the LME. Iron ore with 62% content for delivery at Qingdao, China, was off by 4.3% to $63.54 a dry metric tonne.

0932: The BoE’s Kristin Forbes has reiterated comments made over the weekend to the effect that rates could rise earlier than expected.

0900: The top flight index started the day off lower but has quickly regained its footing. Overnight, Greece's far-left Syriza party stunned observers after coming within a whisker of an outright majority. Nonetheless, it did fall short. It won 36.4% of the vote compared to 27.8% for the governing New Democracy party and is projected to win 149 seats versus the 151 needed for a majority in the 300 seat parliament. IAG is at the top of the leaderboard after the company moved over the weekend to pounce on smaller rival Aer Lingus. easyJet, which is set to deliver a trading update this week, can also been seen higher. Both stocks are likely also benefitting from the favourable tailwind in the form of a renewed drop in the price of crude. Commodity stocks are lower across the board as copper prices fall. FTSE 100 down 7 points to 6,825.66.