This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
| UK 100 Leaders | Close | Chg | % Chg | % YTD |
| InterContinental Hotels Group PLC | 1937 | 71 | 3.8 | 114.2 |
| Fresnillo PLC | 885 | 18.5 | 2.1 | 10.63 |
| Intertek Group PLC | 3000 | 61 | 2.1 | 138.1 |
| Centrica PLC | 337.9 | 6.8 | 2.1 | 20.12 |
| Anglo American PLC | 1439.5 | 28 | 2.0 | -48.02 |
| Severn Trent PLC | 1888 | 36 | 1.9 | 74.81 |
| HSBC Holdings PLC | 605.7 | 11.5 | 1.9 | -16.63 |
| United Utilities Group PLC | 804.5 | 14.5 | 1.8 | 62.1 |
| UK 100 Laggards | Close | Chg | % Chg | % YTD |
| Legal & General Group PLC | 206 | -7.1 | -3.33 | 159.1 |
| Aberdeen Asset Management PLC | 363.3 | -10.7 | -2.86 | 167.1 |
| Hargreaves Lansdown PLC | 1414 | -41 | -2.82 | 370.4 |
| Aviva PLC | 480.3 | -13.4 | -2.71 | 21.75 |
| St James’s Place PLC | 858 | -21.5 | -2.44 | 239.1 |
| Marks & Spencer Group PLC | 459.7 | -11.5 | -2.44 | 11.47 |
| Barratt Developments PLC | 403.4 | -9.4 | -2.28 | 218.9 |
| William Hill PLC | 339.1 | -7.5 | -2.16 | 89.82 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,557.17 | 14.73 | 0.23 | 2.64 |
| UK | 16,160.00 | -57.25 | -0.35 | 15.59 |
| FR CAC 40 | 4,335.28 | 7.37 | 0.17 | 14.85 |
| DE DAX 30 | 9,342.94 | 46.82 | 0.5 | 17.78 |
| US DJ Industrial Average 30 | 16,302.80 | -28.25 | -0.17 | 13.05 |
| US Nasdaq Composite 100 | 4,276.80 | -42.50 | -0.98 | 32.71 |
| US S&P 500 | 1,866.52 | -5.49 | -0.29 | 20.75 |
| JP Nikkei 225 | 14,475.30 | 251.07 | 1.77 | -11.15 |
| HK Hang Seng Index 48 | 21,818.30 | 381.60 | 1.78 | -6.39 |
| AU S&P/ASX 200 | 5,346.89 | 8.81 | 0.17 | -0.10 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 99.33 | -0.22 | -0.22 | 7.24 |
| Crude Oil, Brent ($/barrel) | 106.675 | -0.66 | -0.61 | -0.51 |
| Gold ($/oz) | 1323.9 | -10.6 | -0.79 | -18.02 |
| Silver ($/oz) | 20.13 | -0.155 | -0.76 | -30.9 |
| Platinum ($/oz) | 1436.25 | -2.75 | -0.19 | -8.94 |
| GBP/USD – US$ per £ | 1.6481 | – | -0.03 | 8.56 |
| EUR/USD – US$ per € | 1.3797 | – | 0.02 | 6.93 |
| GBP/EUR – € per £ | 1.1945 | – | -0.06 | 1.53 |
Click graph to enlarge
See Live Macro Calendar for full data line-up, incl. consensus expectations
The UK 100 set to open down 10pts at 6554pts after Chinese manufacturing data missed expectations, registered an eight-month low and confirmed a contraction in manufacturing for the entire first quarter of 2014.
Asian markets initially headed south before China’s leaders pledged to accelerate policies to support the economy, sending indices into the blue – the Hang Seng the notable performer finishing +364pts.
The approach on Friday was certainly a cautious one ahead of the crucial Chinese data. Shallow gains or losses were registered on both sides of the pond. The UK Index finished positive by just 14pts, likewise the CAC and DAX finished in the blue less than 0.5%. In the US the Dow Jones settled at 16,302pts, lower by 28pts, with the S&P 500 and NASDAQ following suit.
The turnaround in this morning’s Asian trading looks unlikely to infiltrate European markets after the White House yesterday warned the Russian forces gathering on the border with eastern Ukraine may be poised to invade. The Ukraine government also said the prospect of war with Russia was growing. This somewhat dampens the effect of Chinese government’s move to stimulate the world’s second-largest economy.
In focus today: Chinese PMI came in at 48.1 vs. 48.7 expected , lowest reading in 8 months. DE Manufacturing / Services PMI at 8:28, EU Manufacturing and Services PMI at 8:58, US Markit Manufacturing PMI at 13:45.
Commodities: Copper trading at $6,482 tn as Morgan Stanley notes “China’s demand is not collapsing but its certainly not accelerating” However the Q2 is seasonally the strongest and Morgan Stanley think Copper will reach $7,385. Brent crude slipped 47 cents to $106.45 a barrel with WTI Crude falling 41cents to $99.05 a barrel after weaker than expected Chinese PMI data. Gold declined 3.2% last week. Currently trading $1,323 oz down $9.50 on easing Chinese PMI data.
FX: Yen weakens 0.2% to 141.37 against the Euro and 0.2% against the Dollar amid bets the Bank of Japan will boost stimulus to ease the impact of tax increase next week.
For any help you may require placing trades or in terms of market information, put a call in to our trading floor – all part of the service.
See Live Macro calendar for all details
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.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research