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| UK 100 Leaders | Close | Chg | % Chg | % YTD |
| Aberdeen Asset Management PLC | 500 | 14.8 | 3.1 | 36.2 |
| Land Securities Group PLC | 963.5 | 17.5 | 1.8 | 18.44 |
| Persimmon PLC | 1239 | 21 | 1.7 | 54.87 |
| Rexam PLC | 530.5 | 8.5 | 1.6 | 21.67 |
| British Land Co PLC | 629 | 8.5 | 1.4 | 11.92 |
| Travis Perkins PLC | 1872 | 24 | 1.3 | 72.06 |
| Hammerson PLC | 502 | 6.3 | 1.3 | 2.81 |
| Babcock International Group PLC | 1355 | 17 | 1.3 | 40.34 |
| UK 100 Laggards | Close | Chg | % Chg | % YTD |
| Marks & Spencer Group PLC | 432.6 | -10.1 | -2.3 | 13.16 |
| Sainsbury (J) PLC | 365 | -6.1 | -1.6 | 5.77 |
| Anglo American PLC | 1320 | -18.5 | -1.4 | -30.31 |
| Antofagasta PLC | 824 | -10 | -1.2 | -37.76 |
| Glencore Xstrata PLC | 312.7 | -3.65 | -1.2 | -10.99 |
| Morrison (Wm) Supermarkets PLC | 261 | -2.7 | -1 | -0.76 |
| Associated British Foods PLC | 2445 | -25 | -1 | 56.33 |
| Royal Mail Group PLC | 570 | -5.5 | -1 | 0 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,749.09 | 17.82 | 0.26 | 14.43 |
| UK | 15,935.30 | 34.56 | 0.22 | 28.77 |
| FR CAC 40 | 4,292.14 | 16.43 | 0.38 | 17.88 |
| DE DAX 30 | 9,552.16 | -37.23 | -0.39 | 25.48 |
| US DJ Industrial Average 30 | 16,576.70 | 72.41 | 0.44 | 26.50 |
| US Nasdaq Composite 100 | 4,176.59 | 22.39 | 0.54 | 38.32 |
| US S&P 500 | 1,848.36 | 7.29 | 0.4 | 29.60 |
| JP Nikkei 225 | 16,291.31 | 112.37 | 0.69 | 56.72 |
| HK Hang Seng Index 48 | 23,279.58 | -26.81 | -0.12 | 2.75 |
| AU S&P/ASX 200 | 5,367.91 | 15.71 | 0.29 | 15.47 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 98.915 | 0.205 | 0.21 | 7.76 |
| Crude Oil, Brent ($/barrel) | 111.325 | 0.46 | 0.41 | 0.04 |
| Gold ($/oz) | 1220.95 | 15.65 | 1.3 | -27.13 |
| Silver ($/oz) | 19.9075 | 0.3775 | 1.93 | -34.39 |
| Platinum ($/oz) | 1389 | 12.5 | 0.91 | -10.04 |
| GBP/USD – US$ per £ | 1.6574 | – | -0.03 | 2.04 |
| EUR/USD – US$ per € | 1.3741 | – | -0.19 | 4.11 |
| GBP/EUR – € per £ | 1.2061 | – | 0.12 | -2.07 |
Click graph to enlarge
See Macro Calendar for full data line-up, incl. consensus expectations
UK 100 called to open flat at 6765, with positive New Year sentiment held back by a more-than-forecast slowing in Dec Chinese Manufacturing PMI growth (official + HSBC), suggesting moderating Q4 growth and reviving fears that the world’s #2 economy may struggle to sustain the GDP momentum desired while implementing the reforms required.
In Asia, stocks kicked off 2014 quietly but cautiously with Japan’s Nikkei closed and Hong Kong dented by a combination of poor Chinese data and speculation, following the cash crunch, that the PBOC (central bank) today skipped open market operations (in effect draining money from system) which had been maintaining calm.
Australia in the blue despite the weak Chinese manufacturing print and its own AIG Index contracting for the second straight month following a short post-election expansion, as new orders dropped due to reduced business and consumer confidence, and worries over the future of the auto industry.
In focus today we have UK, US & European PMI Manufacturing readings which are expected to show continued growth with the exceptions remaining Spain, France and Greece, although the former may be getting close to breakeven. Thereafter we have US Jobless Claims followed by US ISM Manufacturing where growth may have slowed but remaining well above 50.
The UK 100 has maintained its upward course into the New Year and looks set to start 2014 with a test of the festive highs. As pointed to previously, this offers potential for the sideways 6720-6775 to have served as a pause and consolidation of the rally which began mid-December and allowing for a continuation of said trend and a test of 2013 highs. Recent data prints, however, show how important global growth sentiment remains.
Gold has started off 2014 on a better footing than it ended 2013 (-30%), rallying off its depressed $1200 recent lows and breaking above a 3-week trendline of falling resistance to test $1229, thanks likely to the weak Chinese data renewing demand for the yellow metal as a safehaven despite little interest as an inflation hedge.
The price of Oil has also risen off its New Year lows thanks to more US inventory data pointing to declines. US Light crude trying back near $99 and its Brent cousin back above $111.
With the moves in Gold, Silver and Oil taking place despite a stronger USD Index, this suggests underlying demand for the fuel and potentially some new year bargaining hunting for the metals rather than relative pricing as a driver.
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See Macro calendar for all details
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