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Morning Report

UK 100 Leaders Close Chg % Chg % YTD
Admiral Group PLC 1181 13 1.1 38.62
Johnson Matthey PLC 2120 17 0.8 15.47
Associated British Foods PLC 1276 9 0.7 15.27
Resolution Ltd 210.3 1.4 0.7 -16.35
BP PLC 435.1 2.55 0.6 -5.52
British Sky Broadcasting Group PLC 688 4 0.6 -6.08
ITV PLC 72.25 0.4 0.6 6.02
Shire PLC 1864 9 0.5 -16.9
UK 100 Laggards Close Chg % Chg % YTD
Ashmore Group PLC 307.8 -22.2 -6.7 -7.84
Eurasian Natural Resources Corporation PLC 393.6 -17.3 -4.2 -38.06
Antofagasta PLC 1040 -43 -4 -14.4
Aggreko PLC 1919 -74 -3.7 -4.86
Rio Tinto PLC 2926 -107 -3.5 -6.37
BHP Billiton PLC 1751 -60 -3.3 -6.74
IMI PLC 783.5 -25 -3.1 3.09
InterContinental Hotels Group PLC 1503 -47 -3 29.9
Major World Indices Mid/Close Chg % Chg % YTD
UK 100 5608.25 -56.23 -0.99 0.65
10924 -43.78 -0.4 8.13
CAC 40 3135.18 -22.07 -0.7 -0.78
DAX (Xetra) 6419.35 -34.5 -0.53 8.83
Dow Jones Industrial Average 12573.3 -31.23 -0.25 2.91
Nasdaq Comp. 2866.19 -21.79 -0.75 10.02
S&P 500 1334.76 -6.69 -0.5 6.14
Nikkei 225 8730 0.34 3.25
Hang Seng 19112 0.43 3.68
S&P 1334 0.39 -67.12
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil Light Sweet Composite 86.07 1.08 1.27 -13.06
Gold Composite 1570.8 11.8 0.76 0.28
Silver Composite 27.1925 0.3725 1.39 -2.1
Palladium Composite 574 -8.1 -1.39 -12.61
Platinum Composite 1422.85 11.45 0.81 1.55
GBP/USD – US $ per £ 1.5445 0.25 -0.55
EUR/USD – US$ per Euro 1.2208 0.15 -5.76
GBP/EUR – Euros per £ 1.265 0.12 5.44
UK 100 is called to open 20 points higher

Click graph to enlarge

Today's Main Events

  • 09:00               Italy                 CPI
  • 13:30               US                    PPI
  • 14:45               US                    University of Michigan Confidence

 

See Live Macro Calendar for all data, incl. consensus expectations

Markets Overview: (Source: Bloomberg, FT, Reuters, DJ Newswires

UK 100 called to open +20pts after some fairly positive US jobs data along with in-line Chinese GDP data that we received a few hours ago. Year on year GDP data from China came in at 7.6% against forecasts of 7.7% however 2nd quarter GDP figures came in at 1.8% vas the 1.6% the market was expecting.

Overnight, the Dow Jones closed 31 points lower at 12,573 however this was a recovery as at one point the Dow was trading at 12,488 in the afternoon. The Hang Seng closed up by 86 points at 19,111 whilst the Nikkei was recently up around 25 points at 8,746

In the commodities markets, Gold took a hammering, dropping over $20 to $1,554 before recovering slightly to trade around trade $1,570. This was mainly due to the lack of talk from the US about further QE (Quantitative Easing), hence seeing a rally in the $ which in turn makes it more expensive to buy gold. £ vs $ has taken fresh one-month lows because of the strength in the dollar, to trade around 1.54 (making your trips to America that little more expensive!).

Today we have Producer Price Index data from the US at 13:30 as well as University of Michigan confidence figures at 14:55.

 Keep an eye on results from JP Morgan which should be out at 2pm today

Morning Press Selection:

  • Chinese economic growth slows to 7.6% – FT.com
  • Banks’ Libor costs may hit $22bn – FT.com
  • US extends reach of Iran oil sanctions – FT.com

Overnight Macro Data: (Source: Reuters/DJ Newswires)

  • China               GDP (YTD)                   WORSE
  • China               GDP (QoQ)                  BETTER
  • China               Retail Sales                 BETTER
  • China               Industrial Production  WORSE
  • Japan               Industrial Production  IN-LINE

See Live Macro calendar for all details

UK Company Headlines: (Source: Reuters/DJ Newswires)

  • EMIS says H1 trading slightly ahead of expectations
  • Electrocomponents sees Q1 overseas sales slip
  • Experian First quarter revenue growth of 14%
  • Anglo American and Codelco agree to extend talks

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