Morning start...fkli firm 1530-32 fcpo soft 3720-30

DJ +9, europe flat. all quiet but firmer tone continues.

8.20 : DJ futs +5. regional flat, mixed. NK lower -0.4% on stronger yen. Kos +0.4%. Commodity also flat. GOLD scaling higher again. CO sustaining aobe 90 and looks set to test 100 in 2011.

fkli : Dec10 expiring today. Near 30-32 first till fbm makes a move above 27, with knee jerk towards40. But fbm seen max at 31-32. fkli is fragile for a pullback if fbm < 24, due to its premium.

fcpo : SO -0.1% looks like 3700-3750 range. weak start would see mkt testing 3700 support. Negative tone if 3760.