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Morning Report

UK 100 Leaders Close Chg % Chg % YTD
Shire PLC 2168 34 1.6 14.89
Smiths Group PLC 1355 20 1.5 13.77
Severn Trent PLC 2071 29 1.4 31.58
Imperial Tobacco Group PLC 2407 29 1.2 1.43
Babcock International Group PLC 1166 12 1 20.77
Admiral Group PLC 1298 12 0.9 11.9
Aberdeen Asset Management PLC 479.1 4.1 0.9 30.51
National Grid PLC 836 6.5 0.8 18.92
UK 100 Laggards Close Chg % Chg % YTD
Eurasian Natural Resources Corporation PLC 254.8 -10.7 -4 -10.28
Royal Bank of Scotland Group (The) PLC 327 -10.2 -3 0.77
Polymetal International PLC 648.5 -16.5 -2.5 -44.81
Next PLC 4580 -111 -2.4 23.48
HSBC Holdings PLC 726 -15.8 -2.1 12.23
BT Group PLC 307.7 -6.4 -2 33.15
International Consolidated Airlines Group SA 273 -5.5 -2 47.73
BG Group PLC 1194 -22.5 -1.8 17.93
Major World Indices Mid/Close Chg % Chg % YTD
UK UK 100 6,654.34 -42.45 -0.63 12.83
UK 14,393.00 -114.72 -0.79 16.31
FR CAC 40 3,956.79 -10.36 -0.26 8.67
DE DAX 30 8,305.32 -46.66 -0.56 9.10
US DJ Industrial Average 30 15,303.00 8.60 0.06 16.78
US Nasdaq Composite 100 3,459.14 -0.28 -0.01 14.56
US S&P 500 1,649.60 -0.91 -0.06 15.66
JP Nikkei 225 14,339.74 197.09 0.0139 37.95
HK Hang Seng Index 48 22,734.09 48.04 0.0021 0.34
AU S&P/ASX 200 4,974.30 14.44 0.0029 7.00
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, US Light Sweet ($/barrel) 93.615 -0.225 -0.24 1.98
Crude Oil, Brent ($/barrel) 102.52 0.625 0.61 -7.87
Gold ($/oz) 1386.95 -8.05 -0.58 -17.23
Silver ($/oz) 22.43 -0.155 -0.69 -26.07
Platinum ($/oz) 1448.25 -7.25 -0.5 -6.2
GBP/USD – US$ per £ 1.5106 -0.02 -6.99
EUR/USD – US$ per € 1.2923 -0.09 -2.09
GBP/EUR – € per £ 1.1689 0.07 -5.09
UK 100 called to open 30 points higher

Click graph to enlarge

Today's Main Events

  • 14:00                     US          S&P Case Shiller
  • 15:00                     US          Fed Manufacturing Index
  • 15:30                     US          Fed Manufacturing Activity

See Live Macro Calendar for full data line-up, incl. consensus expectations

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

UK 100 is called to open +30pts, taking the lead from Asian markets as the US markets were also closed yesterday. In Asia, a 5-day run of declines has come to an end with the Nikkei recently up 197 points at 14,339 and the Hang Seng closing up 48 points at 22,734. Comments this morning that last week’s sharp declines were merely a “correction”. The UK Index ’s strong opening this morning could be a sign of this but will this continue throughout the week?

In focus today, will be US consumer confidence due out at later today. On the corporate earnings front, a quiet day sees results from Volex Group, Westminster Group and Victrex.

After the UK 100 ’s sharp decline from highs of 6,880 last week, it looks to resume a one-week uptrend after finding a bottom of around 6,640/50. With a quiet day in terms of macro data, we’ll surely look to the US markets later this afternoon for further direction.

In FX, the Dollar lost ground against Yen, and other major currencies on Monday after thinner than usual trading. The Yen rose, closing to over a two-week high against the dollar on Monday on the back of interest in the currency’s safe haven status. The greenback trade at 101.086 compared to 101.09 on Friday. The Euro rose 0.1% against the Dollar at $1.2945 as Italian and Spanish bond yields fell.

Gold trading flat just below the $1400 level, currently at $1,392.

US light Crude and Brent Crude both trading flat, currently at $93.74 and $102.65 respectively.

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.

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

  • CHINA              Industrial Profits                     IN-LINE
  • JAPAN              Corporate Service                   WORSE
  • CHINA              Leading Index                          IN-LINE
  • JAPAN              Small Business Confidence     WORSE

See Live Macro calendar for all details

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

  • AstraZeneca wins generic Pulmicort Respules block
  • A.G.Barr says revenues up 2.4 pct
  • Victrex H1 pretax profit falls
  • Omthera Pharmaceuticals says Astrazeneca to buy co for about $323 mln
  • AstraZeneca buys heart drug firm Omthera for up to $443 mln

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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.

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

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