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| UK 100 Leaders | Close | Chg | % Chg | % YTD |
| International Consolidated Airlines Group SA | 211.8 | 8.8 | 4.3 | 14.61 |
| Associated British Foods PLC | 1606 | 50 | 3.2 | 2.69 |
| ITV PLC | 113.6 | 3.5 | 3.2 | 7.98 |
| Aggreko PLC | 1818 | 48 | 2.7 | 4.48 |
| Experian PLC | 1086 | 24 | 2.3 | 10.82 |
| Old Mutual PLC | 186.1 | 4 | 2.2 | 4.43 |
| Admiral Group PLC | 1169 | 20 | 1.7 | 0.78 |
| Legal & General Group PLC | 151.3 | 2.3 | 1.5 | 3.91 |
| UK 100 Laggards | Close | Chg | % Chg | % YTD |
| Aberdeen Asset Management PLC | 385 | -6.7 | -1.7 | 4.88 |
| National Grid PLC | 682.5 | -10 | -1.4 | -2.92 |
| Petrofac Ltd | 1673 | -22 | -1.3 | 3.08 |
| Polymetal International PLC | 1084 | -13 | -1.2 | -7.74 |
| Kingfisher PLC | 285.1 | -3.3 | -1.1 | 0.35 |
| Eurasian Natural Resources Corporation PLC | 343.3 | -3.7 | -1.1 | 20.88 |
| Randgold Resources Ltd | 5840 | -50 | -0.8 | -1.85 |
| AMEC PLC | 1081 | -8 | -0.7 | 7.78 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6132.36 | 28.38 | 0.46 | 3.98 |
| UK | 12847.6 | 83.96 | 0.66 | 3.82 |
| FR CAC 40 | 3744.1 | 35.62 | 0.96 | 2.83 |
| DE DAX 30 | 7735.46 | 44.33 | 0.58 | 1.62 |
| US DJ Industrial Average 30 | 13596 | 84.8 | 0.63 | 3.75 |
| US Nasdaq Composite 100 | 3136 | 18.46 | 0.59 | 3.86 |
| US S&P 500 | 1480.94 | 8.31 | 0.56 | 3.84 |
| JP Nikkei 225 | 10913.3 | 303.66 | 2.86 | 4.98 |
| HK Hang Seng Index 48 | 23580.66 | 245.44 | 1.05 | 4.08 |
| AU S&P/ASX 200 | 4771.23 | 14.6 | 0.31 | 2.63 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 95.555 | 0.385 | 0.4 | 4.1 |
| Crude Oil, Brent ($/barrel) | 111.365 | 1.05 | 0.95 | 0.08 |
| Gold ($/oz) | 1692.45 | 5.35 | 0.32 | 1.01 |
| Silver ($/oz) | 31.9225 | 0.2075 | 0.65 | 5.22 |
| Platinum ($/oz) | 1700.9 | 14.2 | 0.84 | 10.16 |
| GBP/USD – US$ per £ | 1.5978 | – | 0 | -1.62 |
| EUR/USD – US$ per € | 1.338 | – | 0.04 | 1.38 |
| GBP/EUR – € per £ | 1.1941 | – | -0.05 | -3.04 |
Click graph to enlarge
See Live Macro Calendar for full data line-up, incl. consensus expectations
UK 100 called to open +20pts with better data from China helping maintain positive global risk sentiment. While many positives to the fore warnings still exist with consumption pinpointed as largest contributor to growth and net exports an overall drag on growth to the tune of 2.2% – still vulnerable to a slowdown in global demand.
GDP for world’s #2 economy grew by 7.9% in Q4, ahead of 7.8% consensus and up from 7.4% in Q3. It also ended a 7-quarter run of slowing expansion which had been a nagging investor concern. GDP data supported by Industrial Production and Retail Sales growth with both sectors picking up pace.
Japan’s Nikkei once again Asian outperformer with Reuters reports that the Bank of Japan (BoJ) will ease policy measures to propose economic growth at next week’s meeting. This saw the Japanese Yen (JPY) return to new lows, again helping exporters, after PM Abe’s economic adviser said weak currency was nothing to worry about. Industrial production data remained weak.
US bourses closed higher helped by better Housing and Jobless Claims data offsetting disappointing results misses by banking giants Bank of America and Citigroup and a slump in the Philadelphia Fed index. Risk appetite also solid despite tech behemoth Intel’s numbers (better) highlighting profits declines and margin contraction, as a result of downturn in core PC market. Discussions on short-term debt ceiling solution and IMF Chief Lagarde calling on ECB to remain accommodative with its policies also kept risk assets in vogue.
In focus today will be UK Retail Sales data with consensus looking for growth to be largely unchanged in December; 0.2% MoM growth and 0.1% excluding fuel, leaving the two at 1.0% and 2.0% growth YoY respectively. In the afternoon, the US Uni of Michigan Consumer confidence index is seen rebounding after a December likely superstorm-fuelled dip.
Results season continues with the likes of Shlumberger (oil services), General Electric (industrial) and another member of the banking sector – Morgan Stanley. Will the latter join Goldman Sachs and JPMorgan with beats, or Citigroup and BoA with a miss?
The UK 100 has broken above recent 6140 highs on the back of the Chinese data. Support possible at overnight lows of 6128.
In FX, GBP/USD remains under pressure below 6-month rising support at 1.60 as USD strengthened on good Housing and Jobless data. Support at mid-Nov lows of 1.585 as USD safehaven demand fell on solid macro data. EUR/USD back on the rise regaining 1.34 highs after IMF Lagarde’s accommodative comments; support yesterday at 1.325. GBP/EUR under continued pressure, trying below 1.195 on EUR strength despite Lagarde’s comments.
In Commodities, Gold benefiting from weaker USD, trying back towards yesterday’s spike higher to $1697 just above 2 Jan highs. In Oil, US Light Crude has rallied to hit $96 on better macro data and despite stronger USD. Brent Crude also rallied to match Tuesday’s $111.5 highs assisted by uncertainty over supply after attacks on facilities in Algeria.
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