Market overview: National Grid knocked lower by Gilt issuance plans

1630: Strong gains for bank shares were unable to offset profit-taking in the likes of Anglo American and Antofagasta, while a sharp rise in 10-year Gilt yields took the wind out of National grid’s sales. That came as the DMO raised its issuance plans for this fiscal year from £129.4bn to £131.5bn in the wake of the most recent public sector borrowing data. Market-chatter about a diminished risk of Brexit referencing some of the more recent poll results may also have deprived Gilts of some of their safe-haven bid. FTSE 100 down 28.82 to 6,381.44.

1500: The Conference Board's index of leading economic indicators edged up by 0.2% over the month in March (consensus: 0.4%).

1400: The FHFA's house price index for February rose by 0.4% month-on-month, in-line with economists' forecasts.

1336: Euro/dollar is higher by 0.43% to 1.1346 as ECB president Draghi begins his press conference.

1331: The Philly Fed's regional manufacturing index dropped from a reading of 12.4 for March to -1.6 in April (consensus: 7.0).

1330: Initial US weekly unemployment claims declined further in the latest week, retreating by 6,000 to reach 247,000 (consensus: 263.000) over the seven days ending on 8 April.

1245: ECB keeps all its key interest rates unchanged, says asset purchase programme has already been expanded to €80bn with further details on its buying of corporate bonds due to be released at Draghi's press conference at 14:30.

1225: Three-month copper futures are up by 0.6% to $5,012.50 per metric tonne on the LME.

1222: "After January’s surge in industrial output, the world’s factories, mines and utilities suffered a slump in output in February, a sobering reality check to getting too bullish on this key sector of the global economy for metals demand. Nevertheless, and admittedly slowly, underlying growth is picking up from the near recessionary conditions of end-2015," analysts at Macquarie are pointing out to clients.

1202: "The StanChart rally has happened against a ~60% fall in consensus profit forecasts for this year and 30% decline for next. Our estimates are unchanged and so is our view: we see great businesses within StanChart – predominantly Transaction Banking, Financial Markets and bits of Retail – but we think the headwinds of de-risking, deleveraging, and flat and low yield curves will combine with elevated loan losses to make life particularly difficult near term," UBS says, and downgrades to sell.

1150: Saudi oil minister Muhanna says topic of oil production freeze will be discussed at OPEC's next meeting in June.

0930: UK retail sales volumes fell by 1.3% month-on-month in March (consensus: -0.10%). The public sector's net borrowing requirement slipped from £6.5bn to £4.17bn during that same month.

0829: Miners and banks are again leading pacing on the top flight index, buoyed by renewed gains overnight in crude oil futures and Chinese rebar futures, ahead of this afternoon's European Central bank policy meeting. That follows slight gains during Wall Street trading hours for the main US market gauges and the mixed performance put in by Asian stocks this morning. UK retail sales and public sector borrowing data for march are set for release at 00:30. FTSE 100 down 3.99 6,406.15.