S&P 500 and the Dow average both touched records over the last week

However, U.S stock index futures have retreated during today’s session as investors take a breather and calls for a correction strengthen.  What must be bared in mind is that traditionally, the markets tend to go up in November and December. With the S&P 500 surging 24 percent already this year, the benchmark gauge is on course for its biggest gain since 2003.

Whilst the FTSE 100 is trading lower as we prepare for the U.S open, the index is still within striking distance of its recent high and there is little in the current technical picture to suggest that it is about to fall away. Additionally, British inflation unexpectedly dropped to its lowest rate for more than a year in October, falling to an annual rate of 2.2 percent in October from 2.7 percent in September. 

Risers:

CRH

The diversified building materials group has reported better trading conditions in the third quarter following a weaker first half after bad weather hit activity in Europe and the Us. Revenues for the three months ended September were up 2 percent to 5.4bn euros. During the same three months, CRH completed six deals which brought total acquisition and investment spending to E660m.

Oxford Instruments

Shares in Oxford Instruments rally after they announce they have made a 500 pence a share takeover offer for Andor Technology and that Andor was considering a proposal that values the company at around £159 million. The cash offer represents a 25% premium to yesterdays close. Oxford Instruments adds that the consolidations of the two firms make significant industrial and commercial logic.

TalkTalk

Telecommunications firm TalkTalk Telecom Group reports a swing to a small pretax loss for the first half of the year, but lifted its dividend payment and raised its full year revenue growth guidance to 3% from 2%, amid accelerating revenue growth. "We are increasingly confident about the opportunity that we have to deliver sustainable growth by bringing affordable connectivity and innovative new products to Britain's consumers and businesses," said Chief Executive Dido Harding. TalkTalk also adds 167,000 TV customers during the second quarter, putting it on track for nearly 1 million by March 2014.

Premier Farnell

The supplier of electronic products Premier Farnell, Tuesday reported a 3.3% growth in group sales for the third quarter of the year, and said that it expects full year operating margin to be broadly similar to that achieved in the first half of the year. Premier Farnell today said it expects to gain market share and position the business for enhanced financial performance, after reporting a rise in group sales

Savile Group

Penna Consulting, the global HR Services Group have announced they have reached an agreement with Savile Group on the terms of a recommended 7 pence a share cash offer for Savile. This values the UK human resource consulting group at £1.1 million.

Fallers:

Royal Bank of Scotland

Royal Bank of Scotland led the fallers in the banking sector with shares nearly down 2 percent after Goldman Sachs cut their rating to Neutral from Buy.

Menzies (John)

Logistics provider John Menzies PLC said Tuesday that due to the continuing difficult trading conditions within its Distribution unit, it now expects the current year results for the group, at constant currency, to be slightly lower than previously expected.

Hunting

International energy services group Hunting today announced their interim management statement stating that trading since July 1 has improved compared to the first half of the year, however, a number of the Group's businesses continue to report mixed trading. Overall the Company has a strong balance sheet, with no significant change to the financial position of the Group since the publication of the half year results in August. Capital investment is forecast to be about £70 million in the current year, however actual cash spend will depend on project timing. Canadian operations continue to suffer from poor market conditions and deferral of projects into 2014.

Balfour Beatty

International infrastructure group Balfour Beatty PLC has announced the launch of an offering of 250 million pounds of senior, unsecured Convertible Bonds due 2018, which will be used to repay short-term borrowing under its revolving credit facility and for general corporate purposes. The company intends to take advantage of currently favourable convertible market conditions to continue diversifying its funding sources, lock in long-term financing at attractive terms and provide additional liquidity.

Evraz

EVRAZ today announced they will launch mass production of the first Russian head-hardened rails. The Register of Certification on the Federal Railway Transport has issued a Compliance Certificate to EVRAZ in relation to DT-350 R-65 head-hardened rails with a length of up to 100 meters. EVRAZ is the first Company in Russia and CIS to obtain the approval to start mass production and supply of this product.