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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
Serco Group PLC 630.5 51.5 8.9 17.85
John Wood Group PLC 818 60 7.9 12.59
Xstrata PLC 1174 74.5 6.8 10.86
Glencore International PLC 391.2 21.25 5.7 11.36
Eurasian Natural Resources Corporation PLC 340.5 13.2 4 19.89
Rio Tinto PLC 3438.5 122.5 3.7 -2.08
CRH PLC 1514 53 3.6 21.31
Antofagasta PLC 1095 37 3.5 -17.3
UK 100 Laggards Close Chg % Chg % YTD
Intu Properties PLC 334 -5.1 -1.5 -4.63
Admiral Group PLC 1267 -9 -0.7 9.22
SSE PLC 1461 -8 -0.5 3.03
Centrica PLC 360.5 -0.9 -0.2 8.06
Rexam PLC 519.5 -0.5 -0.1 19.15
Shire PLC 2090 -2 -0.1 10.76
British American Tobacco PLC 3566 2 0.1 14.26
Sainsbury (J) PLC 344.9 0.2 0.1 -0.06
Major World Indices Mid/Close Chg % Chg % YTD
UK UK 100 6431.95 86.32 1.36 9.06
UK 13861.3 186.77 1.37 12.01
FR CAC 40 3787.19 77.43 2.09 4.01
DE DAX 30 7870.31 178.63 2.32 3.39
US DJ Industrial Average 30 14253.8 126 0.89 8.77
US Nasdaq Composite 100 3224.13 42.1 1.32 6.78
US S&P 500 1539.79 14.59 0.96 7.97
JP Nikkei 225 11932 248 2.13 14.78
HK Hang Seng Index 48 22777 217 0.96 0.53
AU S&P/ASX 200 5116 41.43 0.82 10.05
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, US Light Sweet ($/barrel) 91.04 0.22 0.24 -0.82
Crude Oil, Brent ($/barrel) 111.875 1.11 1 0.54
Gold ($/oz) 1577.8 1.2 0.08 -5.84
Silver ($/oz) 28.78 0.015 0.05 -5.14
Platinum ($/oz) 1597.65 3.65 0.23 3.47
GBP/USD – US$ per £ 1.5134 -0.02 -6.82
EUR/USD – US$ per € 1.3056 0.07 -1.08
GBP/EUR – € per £ 1.159 -0.09 -5.89
UK 100 called to open 10 points higher

Click graph to enlarge

Today's Main Events

  • 10:00     EURO    GDP
  • 12:00     US          Mortgage Applications
  • 13:15     US          ADP Employment Change
  • 15:00     US          Factory Orders
  • 16:30     UK          UK Index Index Quarterly Rebalance

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.

We hope your experience with Accendo Markets over the past 12 months warrants a vote in the following category;  “BEST EXECUTION ONLY CFD PROVIDER”

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

UK 100 called to open slightly higher (+8-10) this morning as markets pause for breath after the strong gains in worldwide markets yesterday. In the US, the Dow Jones rallied to new all-time highs, closing up 126 points at 14,254 whilst the Nasdaq was up 42 points at 3,224. US markets were helped higher as the service industry expanded at the fastest pace in a year and investors bet central banks will continue stimulus measures. In Asia, the Hang Seng closed up 211 points at 22,772 whilst the Nikkei was recently up 215 points at 11,900.

In focus today, will be data from the US (Mortgage Applications, ADP employment data and weekly oil stocks). Check our Live Macro calendar for full details/times etc. Keep an eye on the insurance sector as final results from Admiral Group and Legal & General amongst some of the companies reporting.

UK 100 tested broke the key 6,400 level as well as breaking new recent highs to trade at around 6,435. Will the UK Index now push towards 6,500 or will we see some selling pressure? Check our UK Index Focus due out later this morning for a better idea of technical levels to watch.

In FX, Sterling, GBP/USD and GBP/EUR have both come off slightly since yesterday, trading at 1.512 and 1.158 vs the £ respectively.

In commodities, Gold currently up $3 at $1578, fairly unchanged since yesterday. In Oils, US Light Crude is up a little, trading at $91.35 a barrel. Brent Crude followed suite, trading at $111.70.

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)

  • UK        BRC Shop Price Index  In-Line
  • Aussie  GDP (QoQ)                  In-Line
  • Aussie  GDP (YoY)                    BETTER

See Live Macro calendar for all details

 

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

  • Admiral says annual profit up 15 pct
  • UNITE Group’s NAV rises 10 pct, sees consistent rental growth
  • Dignity says confident in group’s prospects
  • Lookers full-year profit up 12.4 pct
  • Monitise signs new three-year deal
  • EasyJet February passenger traffic up 3.4 pct
  • Insurer L&G says FY profit up 3.2 pct
  • James Fisher 2012 profit up, raises dividend
  • SDL buys Bemoko
  • IPF to expand into Bulgaria, Lithuania
  • Melrose full-year profit rises

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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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