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This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report

UK 100 Leaders Close Chg % Chg % YTD
Old Mutual PLC 211.4 8.9 4.4 18.63
Capita Group (The) PLC 858.5 35 4.3 13.71
Experian PLC 1137 43 3.9 16.02
Burberry Group PLC 1411 35 2.5 15.09
Compass Group PLC 820.5 20 2.5 13.17
Hammerson PLC 506.5 12.1 2.4 3.73
Standard Life PLC 361 8.5 2.4 8.7
Babcock International Group PLC 1098 25 2.3 13.72
UK 100 Laggards Close Chg % Chg % YTD
Kazakhmys PLC 590 -29 -4.7 -24.16
Evraz PLC 261.5 -11.4 -4.2 1
Royal Bank of Scotland Group (The) PLC 314 -9.9 -3.1 -3.24
Xstrata PLC 1127 -35.5 -3.1 6.42
Rio Tinto PLC 3442 -99 -2.8 -1.98
Glencore International PLC 376.95 -10.55 -2.7 7.3
Fresnillo PLC 1513 -40 -2.6 -18.08
Lloyds Banking Group PLC 53.25 -1.22 -2.2 11.13
Major World Indices Mid/Close Chg % Chg % YTD
UK UK 100 6378.6 17.79 0.28 8.15
UK 13750.5 46.48 0.34 11.12
FR CAC 40 3699.9 -23.09 -0.62 1.62
DE DAX 30 7708.16 -33.54 -0.43 1.26
US DJ Industrial Average 30 14089.7 35.2 0.25 7.52
US Nasdaq Composite 100 3169.74 9.55 0.3 4.98
US S&P 500 1518.2 3.52 0.23 6.45
JP Nikkei 225 11606.38 47.02 0.41 11.65
HK Hang Seng Index 48 22880.22 -140.05 -0.61 0.99
AU S&P/ASX 200 5086.13 -17.95 -0.35 9.41
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, US Light Sweet ($/barrel) 91.02 -0.85 -0.93 -0.84
Crude Oil, Brent ($/barrel) 110.335 -0.7 -0.63 -0.84
Gold ($/oz) 1575.8 -4.7 -0.3 -5.96
Silver ($/oz) 28.595 0.02 0.07 -5.75
Platinum ($/oz) 1573.2 -11.8 -0.74 1.89
GBP/USD – US$ per £ 1.5045 -0.78 -7.37
EUR/USD – US$ per € 1.3028 -0.25 -1.3
GBP/EUR – € per £ 1.1548 -0.53 -6.24
UK 100 called to open 40 points lower

Click graph to enlarge

Today's Main Events

  • 08:00     ES           Unemployment – NET
  • 09:30     EURO    Construction PMI
  • 10:00     EURO    PPI
  • 14:45      US          ISM

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

City of London will be hosting its annual Wealth Management awards next month.

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

UK 100 called to open -40pts this morning as worries over the US fiscal impasse continues as well as following Asian losses over night. Asian markets were mixed with the Hang Seng down 350 points as soaring property rates again caused concern that China would resort to a tighter monetary policy. The Nikkei was recently trading slightly higher however as its Central Bank governor nominee (Kuroda) said he’d do everything he could to end deflation. In the US, the Dow Jones rose 36 points to close at 14,090 whilst the Nasdaq was up 10 points at 3,170.

In focus today, will be Eurozone PPI figures expected at 10:00 this morning. Also keep an eye on figures from HSBC which are due out at 8:30 today. Analysts are expecting HSBC to report their best ever results despite the fine they had to swallow for money laundering.

In FX, GBP/USD support of 1.51 has now been broken and is currently trading around 1.502 (slightly higher than week lows of 1.498). EUR/USD showing a similar pattern, currently trading at 1.30. GBP/EUR showing no real sign of recovery despite bouncing off one week lows, currently trading at 1.155. Doesn’t look like we’ll be booking our US/European holidays anytime soon!

In Commodities, Gold still hovering around $1577. In Oils, US Light Crude broke below $92 support, maintaining February downtrend, currently trading at $90.76. Brent Crude followed suite, falling sub $110.2. Both weak on mixed macro data.

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)

  • New Zealand   Commodity Price         In-Line
  • UK                       Business Barometer    In-Line
  • UK                       Housing Survey            In-Line
  • Aussie               Inventories                     WORSE
  • Aussie               Building Approvals      BETTER

See Live Macro calendar for all details

 

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

  • Gemfields first-half production rises
  • Bumi says directors Yeo and Harsono to step down
  • Amec wins 68 mln stg North Sea contract
  • Keller Group full-year pretax profit rises
  • Insurer Amlin returns to profit on lower claims
  • Ultra Electronics reports flat FY underlying operating profit
  • Essar Energy gets go-ahead for gas field
  • Bunzl buys Brazil distributor
  • Kentz wins Canada contract
  • Shell may shut major Nigeria pipeline due to theft
  • Intertek makes acquisitions in Brazil, South Africa

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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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