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Morning Report

UK 100 Leaders Close Chg % Chg % YTD
Aberdeen Asset Management PLC 263.8 8.8 3.5 24.43
Glencore International PLC 312.05 8.3 2.7 -20.4
Xstrata PLC 820.8 14.4 1.8 -16.07
GKN PLC 186.6 3 1.6 1.97
Resolution Ltd 203 3 1.5 -19.25
Carnival PLC 2223 26 1.2 4.56
Capita Group (The) PLC 673.5 7.5 1.1 7.16
Croda International PLC 2357 24 1 30.65
UK 100 Laggards Close Chg % Chg % YTD
Vedanta Resources PLC 942 -19 -2 -7.19
Aviva PLC 281.4 -5.5 -1.9 -6.45
Tullow Oil PLC 1502 -29 -1.9 7.13
Babcock International Group PLC 871 -13 -1.5 18.42
Prudential PLC 741 -10.5 -1.4 16.05
British Land Co PLC 514.5 -7 -1.3 11.24
Tesco PLC 315.95 -3.8 -1.2 -21.69
ICAP PLC 331 -3.8 -1.1 -4.58
Major World Indices Mid/Close Chg % Chg % YTD
UK 100 5684.47 -3.26 -0.06 2.01
11161.2 -28.61 -0.26 10.48
CAC 40 3267.75 -3.45 -0.11 3.42
DAX (Xetra) 6564.8 -13.41 -0.2 11.3
Dow Jones Industrial Average 12943.8 72.43 0.56 5.94
Nasdaq Comp. 2976.08 24.85 0.84 14.24
S&P 500 1374.02 8.51 0.62 9.26
Nikkei 225 9006.78 132.67 1.5 6.52
Hang Seng 19441.46 416.19 2.19 5.46
S&P/ASX 200 4094.63 49.8 1.23 0.94
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil Light Sweet Composite 86.815 0.005 0.01 -12.31
Gold Composite 1614.95 -0.75 -0.05 3.1
Silver Composite 28.0875 -0.0375 -0.13 1.13
Palladium Composite 595.1 -0.9 -0.15 -9.39
Platinum Composite 1487.35 7.15 0.48 6.16
GBP/USD – US $ per £ 1.5597 0.11 0.43
EUR/USD – US$ per Euro 1.2525 0.08 -3.31
GBP/EUR – Euros per £ 1.2452 0.02 3.78
UK 100 is called to open 11 points higher

Click graph to enlarge

Today's Main Events

  • 11:00               Germany         Factory Orders
  • 12:00               UK                    Interest Rate Decision
  • 12:30               US                    Challenger Job Cuts
  • 12:45               EU                    ECB Rate Announcement
  • 13:15               US                    ADP Employment Change
  • 13:30               US                    Initial Jobless Claims
  • 14:45               US                    Bloomberg Consumer Comfort Index
  • 15:00               US                    ISM non-manufacturing composite

 

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

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

UK 100 is called to open flat to slightly higher this morning as traders wait in anticipation of rate decisions from the Bank of England and the ECB. Will the Bank of England boost QE (quantative easing) by the expected £50bn today? Will interest rates remain on hold at 0.5% Keep an eye on our Live Macro Calender at 12:00 today for updates or alternatively call in and speak to one of our traders direct for an update – 020 3051 7461.

Overnight, the US markets were closed due to Independence Day while in Asia, the Nikkei was recently down 20 points at 9,084. The Chinese markets (Hang Seng) closed down 57 points at 19,653.

Both Brent Crude and Gold remained fairly flat since yesterday, currently trading around $100.68 and  $1,615 respectively.

In FX markets, we have weakness from both £ vs $ which is trading off week highs of 1.572 (currently at 1.561) and from € vs $ which is also off week highs of 1.27 (currently trading at around 1.252)

 

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

  • Aussie              Trade Balance                         Better
  • Japan               Average Office Vacancies      In-line

See Live Macro calendar for all details

 

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

  • Xstrata confirms Glencore vote postponed
  • NCC full-year profit up 27 pct, says confident
  • Robert Walters Q2 gross profit down 3 pct
  • EasyJet June passengers up 9.7 pct
  • Begbies Traynor results in line, says markets challenging
  • AFC Energy says confident on future
  • Babcock says 2012/13 financial year started well
  • Dunelm sees FY profit to be above market estimates
  • Great Portland Estates says London market strong
  • Carlyle acquires 49 pct of China mid-tier hotel chain

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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.

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