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| UK 100 Leaders | Close | Chg | % Chg | % YTD |
| Travis Perkins PLC | 1678 | 53 | 3.3 | 54.23 |
| Whitbread PLC | 3210 | 96 | 3.1 | 31.18 |
| Glencore Xstrata PLC | 335.9 | 9.25 | 2.8 | -4.38 |
| Diageo PLC | 1973 | 52 | 2.7 | 10.41 |
| Shire PLC | 2445 | 64 | 2.7 | 29.57 |
| Standard Life PLC | 355.5 | 9.1 | 2.6 | 7.05 |
| Aberdeen Asset Management PLC | 393.4 | 10 | 2.6 | 7.16 |
| Anglo American PLC | 1512 | 36 | 2.4 | -20.17 |
| UK 100 Laggards | Close | Chg | % Chg | % YTD |
| Croda International PLC | 2477 | -125 | -4.8 | 4.25 |
| BAE Systems PLC | 436.3 | -14.4 | -3.2 | 29.5 |
| Royal Bank of Scotland Group (The) PLC | 376.9 | -8 | -2.1 | 16.15 |
| Wolseley PLC | 3169 | -32 | -1 | 9.28 |
| Meggitt PLC | 541 | -5 | -0.9 | 41.51 |
| Fresnillo PLC | 927 | -8.5 | -0.9 | -49.81 |
| Aggreko PLC | 1477 | -13 | -0.9 | -15.11 |
| Randgold Resources Ltd | 4304 | -32 | -0.7 | -27.66 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,487.19 | 56.70 | 0.88 | 9.99 |
| UK | 14,969.80 | 73.19 | 0.49 | 20.97 |
| FR CAC 40 | 4,219.98 | 1.87 | 0.04 | 15.90 |
| DE DAX 30 | 8,724.83 | 39.06 | 0.45 | 14.61 |
| US DJ Industrial Average 30 | 15,237.00 | 111.03 | 0.73 | 16.28 |
| US Nasdaq Composite 100 | 3,791.87 | 31.12 | 0.83 | 25.58 |
| US S&P 500 | 1,703.20 | 10.64 | 0.63 | 19.42 |
| JP Nikkei 225 | 14,404.74 | 210.03 | 1.48 | 38.57 |
| HK Hang Seng Index 48 | 23,218.32 | 267.02 | 1.16 | 2.48 |
| AU S&P/ASX 200 | 5,207.86 | -23.01 | -0.44 | 12.02 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 102.075 | 0.335 | 0.33 | 11.2 |
| Crude Oil, Brent ($/barrel) | 111.345 | 0.67 | 0.61 | 0.06 |
| Gold ($/oz) | 1275.45 | 2.85 | 0.22 | -23.88 |
| Silver ($/oz) | 21.3875 | 0.0575 | 0.27 | -29.51 |
| Platinum ($/oz) | 1377.15 | 4.25 | 0.31 | -10.81 |
| GBP/USD – US$ per £ | 1.5984 | – | 0.2 | -1.59 |
| EUR/USD – US$ per € | 1.3564 | – | 0.13 | 2.77 |
| GBP/EUR – € per £ | 1.1784 | – | 0.06 | -4.32 |
Click graph to enlarge
See Live Macro Calendar for full data line-up, incl. consensus expectations
UK 100 called to open -15pts at 6470, back around that key 6480 level of the last two weeks, as optimism (Europe + US close higher on Friday) of a debt ceiling deal in Washington over the weekend has culminated in another absence of progress (they are back bickering about automatic spending cuts).
Amid the absence of US progress and nearing of the debt ceiling date (Thurs, 17 Oct), the IMF/G20 is urging the US to take urgent action highlighting risks to the global recovery. Note, the debt ceiling is the date after which the US cannot borrow more, however, not necessarily the date it defaults with an ability to juggle things likely for a few days longer.
Elsewhere, we’ve had surprisingly weak Chinese trade data with flat exports and consumer inflation showing a sharp rise in prices for fresh produce, emphasising slower international demand but strong domestic support which is good but may need cooling. Although September data may have been the culprit for exports. Over-estimated?
In Asia, trading muted on account of Japan and Hong Kong being closed for public holidays, stopping the former’s exporters reacting to the weaker USD and thus stronger JPY as currency displays its safehaven status despite huge monetary.
Australia in the red as US weighs on sentiment and macro data disappointed with Home Loans plunging and Investment Lending flat. Note ECB President Draghi’s Friday comments about remaining attentive to money market developments and ready to consider all options (another LTRO hint?).
In focus today, bar Eurozone Industrial Production (seen positive in August), we have little to focus on but the US debt ceiling negotiations a Eurozone finance ministers meeting in the afternoon. Note many US markets closed for Columbus Day holiday.
The UK 100 s back below the key 6480 level of the last two weeks. Whether this reverts to resistance as Washington refuses to deliver a market-pleasing agreement remains to be seen. If so, downside to lows of around 6400. On the longer-term graph, note the 6500 level is the one to get back above as it represents what we have oscillated around since earl July.
In FX, USD Index back below 80.4 on Washington stalemate GBP/USD back nearing 1.60 Friday highs after rebound from 1.591 lows. EUR/USD flat around 1.355. USD/JPY solid around 98.3 with more safehaven flows into JPY rather than USD.
Gold back at August lows $1275 having tested lower on Thursday ($1262) and Friday. As the stronger USD and strong trend of falling highs from end-August hindered. Resistance at $1315 now.
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