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| UK 100 Leaders | Close | Chg | % Chg | % YTD |
| International Consolidated Airlines Group SA | 162 | 10.9 | 7.2 | 9.91 |
| Evraz PLC | 241.6 | 13.1 | 5.7 | -35.52 |
| Eurasian Natural Resources Corporation PLC | 401.8 | 17.2 | 4.5 | -36.77 |
| Aviva PLC | 299 | 12.6 | 4.4 | -0.6 |
| Vedanta Resources PLC | 928 | 32.5 | 3.6 | -8.57 |
| Royal Bank of Scotland Group (The) PLC | 222.2 | 7.7 | 3.6 | 10.11 |
| Kazakhmys PLC | 719.5 | 20.5 | 2.9 | -22.38 |
| Lloyds Banking Group PLC | 31.09 | 0.885 | 2.9 | 20.02 |
| UK 100 Laggards | Close | Chg | % Chg | % YTD |
| Pearson PLC | 1190 | -40 | -3.3 | -1.65 |
| ITV PLC | 76.8 | -1.4 | -1.8 | 12.69 |
| Babcock International Group PLC | 866 | -7.5 | -0.9 | 17.74 |
| Sainsbury (J) PLC | 320.5 | -2.7 | -0.8 | 5.81 |
| Tesco PLC | 318.35 | -2.65 | -0.8 | -21.09 |
| WPP Group PLC | 825 | -6.5 | -0.8 | 22.13 |
| Aberdeen Asset Management PLC | 262.2 | -2 | -0.8 | 23.68 |
| Reed Elsevier PLC | 545 | -3.5 | -0.6 | 5.01 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK 100 | 5693.63 | 66.42 | 1.18 | 2.18 |
| 11238.9 | 59.89 | 0.54 | 11.24 | |
| CAC 40 | 3320.7 | 40.52 | 1.24 | 5.09 |
| DAX (Xetra) | 6774.06 | 84.66 | 1.27 | 14.85 |
| Dow Jones Industrial Average | 13073 | -2.66 | -0.02 | 7 |
| Nasdaq Comp. | 2945.84 | -12.25 | -0.41 | 13.08 |
| S&P 500 | 1385.3 | -0.67 | -0.05 | 10.15 |
| Nikkei 225 | 8695.06 | 59.62 | 0.69 | 2.84 |
| Hang Seng | 19740.31 | 154.91 | 0.79 | 7.08 |
| S&P/ASX 200 | 4269.2 | 23.49 | 0.55 | 5.24 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil Light Sweet Composite | 89.62 | -0.01 | -0.01 | -9.47 |
| Gold Composite | 1626.6 | 1.8 | 0.11 | 3.84 |
| Silver Composite | 28.135 | 0.045 | 0.16 | 1.3 |
| Palladium Composite | 592.575 | 2.825 | 0.48 | -9.78 |
| Platinum Composite | 1421.55 | 4.25 | 0.3 | 1.46 |
| GBP/USD – US $ per £ | 1.5709 | – | -0.01 | 1.16 |
| EUR/USD – US$ per Euro | 1.2263 | – | 0.02 | -5.33 |
| GBP/EUR – Euros per £ | 1.281 | – | 0 | 6.77 |
Click graph to enlarge
UK 100 called to open flat, with risk sentiment from Asia/US only mildly positive ahead of the all-important central bank meetings/rate decisions from the US Federal Reserve (Fed) on Wednesday and the Bank of England (BoE) and European Central Bank (ECB) on Thursday.
Having regained the 5,700 level yesterday (on hopes of central bank monetary/economic stimulus) from lows of 5,450 a week ago, no serious ground was made overnight with market participants in a wait-and-see mode for any stimulus to be delivered, or not as the case may turn out to be. Note today is month-end which can give rise to volatility as traders/investors look to window-dress/flatter their portfolios to show performance in the best possible light.
Overnight, macro data UK GFK Consumer Confidence staying depressed, and a fall in Japanese Manufacturing PMI. Japanese jobless data was slightly improved, however construction and housing starts disappointed. Strange figures this morning from German Retail Sales which missed on monthly growth expectations but beat by miles on annual growth.
Looking at FX and Commodities, Gold is taking a breather around the $1,625 level around which it has now traded for the last 2 sessions. Silver continues to grind higher, touching $28.3 overnight. US Light Crude back down near 2-day lows of $89.5. Its cousin Brent crude also off recent highs trading below $106. GBP/USD in a narrow 1.568-1.573 range, with EUR/USD showing the same between 1.225 and 1.229.
Today’s focus likely on German and Eurozone Unemployment and Eurozone Consumer Price inflation. The ECB’s main remit remains price stability and it will be interesting to see whether inflation has risen above the prior 2.4% level. If so the necessary action may be at odds with the bank’s recent comments that tit would do all required to preserve euro, to the point of intervening in sovereign bond markets.
After the slowing in US GDP and ahead of tomorrow’s US Federal Open Market Committee (FOMC) meeting and rate decision, personal income & spending, housing and Chicago PMI and consumer confidence will likely be eyed for signs of putting pressure e on Chairman Bernanke to deliver more monetary stimulus.
Results out this morning from BP, Vedanta, Xstrata, Fresnillo, GKN, Weir Group, Drax Group, Polymetal, Tullett Prebon, Capital & Counties Properties, UBS, Bayer amongst many others. For a run-down of those that interest you, speak to your trader.
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