Market overview: Commodity stocks lead gains

1518: Latest Genscape data points to 649,000 barrel of oil build in stockpiles at Cushing, one report says.

1500: US NAHB's housing market index slipped was flat at 58.0 points in May (consensus: 59.0).

1330: The New York Fed's Empire State manufacturing sector index dropped from a reading of 9.56 to -9.02 (consensus: 6.50).

1329: Boeing is reportedly in the market to sell $1bn in 7-year, 10-yer, 30-year debt. Over the weekend, The Economist pointed out it should forego developing a new aircraft model if it wanted to overtake Airbus.

1244: Shares in Apple are spiking 2% after Berkshire Hathaway discloses 9.81m share stake in he tech giant.

1134: Analysts at Canaccord are reiterating their buy recommendation and 670p target price on shares of residential property developer Crest Nicholson, along with their target price of 670p. The company's update showed trading conditions remained "good" and the firm continues to be on track to reach its target for £1bn in revenues for the fiscal year ending 31 October. Trading on a 2016e price-to-tangible net asset value multiple of about 1.9 and offering a dividend yield of 5.2% rising to 6.7% next year the valuation is "broadly in line with the sector average," Canaccord says.

1029: LME-copper futures are being quoted at $4,641/tonne up from $4,630/t on Friday.

1019: HSBC pushes back forecast for date of first hike in Bank Rate from November 2016 to May 2017.

0946: Front month Brent crude futures are up by 1.665% to $48.64 per barrel on the ICE. Over the weekend, Goldman Sachs analysts bumped up their forecast for the price of West Texas Intermediate in the second half of this year from $45 a barrel to $50. Multiple supply disruptions had led to a “sudden halt” in the market surplus, the analysts said, although excess supplies were expected to reappear in early 2017. FTSE 100 down 20.57 to 6,117.93.

0833: Stocks have started the week lower, with strength in miners’ shares and follow-through buying in the likes of Tesco offset by a retreat in stock of British Land and select financials. There is little on the economic calendar today, save for the result of the latest Empire State manufacturing sector index and the US Treasury’s report on long-term capital flows. Overnight, both Chinese and Japanese stocks ended the day higher, with the Shanghai Stock Exchange’s Composite Index closing up by 0.84% to 2,850.862.