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| UK 100 Leaders | Close | Chg | % Chg | % YTD |
| Anglo American PLC | 1332.5 | 70 | 5.5 | 0.95 |
| Burberry Group PLC | 1537 | 68 | 4.6 | 1.39 |
| GKN PLC | 403.6 | 12.4 | 3.2 | 8.12 |
| G4S PLC | 258 | 7.9 | 3.2 | -1.71 |
| Rexam PLC | 516 | 15.5 | 3.1 | -2.73 |
| Royal Mail Group PLC | 615 | 18 | 3 | 7.89 |
| Rio Tinto PLC | 3254 | 86 | 2.7 | -4.56 |
| AstraZeneca PLC | 3845 | 89.5 | 2.4 | 7.57 |
| UK 100 Laggards | Close | Chg | % Chg | % YTD |
| Hargreaves Lansdown PLC | 1446 | -62 | -4.1 | 6.79 |
| Centrica PLC | 315.5 | -11.5 | -3.5 | -9.26 |
| Imperial Tobacco Group PLC | 2185 | -68 | -3 | -6.54 |
| SSE PLC | 1320 | -29 | -2.1 | -3.65 |
| Fresnillo PLC | 696 | -14 | -2 | -6.64 |
| Coca-Cola HBC AG | 1747 | -30 | -1.7 | -0.85 |
| Resolution Ltd | 354.2 | -5.4 | -1.5 | 0.06 |
| AMEC PLC | 1052 | -15 | -1.4 | -3.31 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,819.86 | 53.00 | 0.78 | 1.33 |
| UK | 16,292.90 | 56.88 | 0.35 | 1.70 |
| FR CAC 40 | 4,332.07 | 57.87 | 1.35 | 1.99 |
| DE DAX 30 | 9,733.80 | 193.30 | 2.03 | 3.17 |
| US DJ Industrial Average 30 | 16,482.00 | 108.04 | 0.66 | 0.07 |
| US Nasdaq Composite 100 | 4,214.88 | 31.86 | 0.76 | 2.01 |
| US S&P 500 | 1,848.38 | 9.50 | 0.52 | 0.93 |
| JP Nikkei 225 | 15,747.20 | -61.53 | -0.39 | -3.34 |
| HK Hang Seng Index 48 | 22,973.04 | 71.04 | 0.31 | -1.43 |
| AU S&P/ASX 200 | 5,309.07 | 63.64 | 1.21 | -0.81 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 94.065 | -0.275 | -0.29 | -0.27 |
| Crude Oil, Brent ($/barrel) | 106.015 | -1.41 | -1.31 | -0.87 |
| Gold ($/oz) | 1239.55 | -0.95 | -0.08 | 0.17 |
| Silver ($/oz) | 20.0925 | -0.1075 | -0.53 | -0.21 |
| Platinum ($/oz) | 1427.3 | -3.1 | -0.22 | 1 |
| GBP/USD – US$ per £ | 1.6346 | – | -0.09 | -0.43 |
| EUR/USD – US$ per € | 1.3609 | – | 0.07 | 0.16 |
| GBP/EUR – € per £ | 1.2011 | – | -0.17 | -0.55 |
Click graph to enlarge
See Live Macro Calendar for full data line-up, incl. consensus expectations
UK 100 called to open +5pts at 6820, testing levels last seen end-October before markets began fretting about tapering, finally breaking out of a the sideways festive range. All eyes now on the top of said range reverting to support to revive the December rally and keep the long-term uptrend alive.
US stocks closed positive, extending Tuesday’s rebound after better Empire State Manufacturing and Producer Prices data and a positive Beige book (upgrade assessment – expanding moderately) as well as Bank of America adding to the tally of consensus-beating Q4 results from the US banks.
After a hawkish Lockhart, Fisher and Plosser, it was the turn of the Fed’s Evans who was mixed; optimistic on 2014 but reassuring on no premature end to accommodative policy while joblessness high and inflation low, but also said tapering should continue in Jan could accelerate in Mar. Helpful!
Note the US House of Representatives passing the bipartisan spending bill by a wide margin and after the World Bank boosted sentiment yesterday, note IMF chief Lagarde urging the global fight against deflationary risk.
Asian stocks took the positive lead from the US, with Australia outperforming thanks to a weaker AUD/USD (Aug 2010 lows) in response to a disappointing jobs report which revived hopes of another RBA rate cut. Note the positive response to results from Rio Tinto (RIO) overnight with shares +2% down-under.
Japan in the red, with a bit of profit taking, despite the USD/JPY moving back up towards recent highs and BoJ governor Kuroda saying recovery is moderate and raising its assessment for 5 of 9 regions with macro data mixed (machine orders surged, annual corporate goods inflation slowed).
Other overnight data also showed a cooling in UK December house price rise expectations and German CPI confirmed at the preliminary reading. Lots of UK corporate results (trading statements out this morning (OCDO, DXNS, HOME, BVS, LAD, HFD, LAM, EXPN, ABF).
In focus today we have Eurozone CPI seen rebounding in December although the annual level (headline and core) will still be confirmed at well below target. The ECB publishes its monthly report and the ECB/Bundesbank’s Weidmann also speaks. Other speakers today include the Fed’s Williams and Bernanke.
More US banks reporting results today, with Goldman Sachs and Citigroup updating on how business fared in the last quarter of 2013. US Jobless Claims data seen pretty much unchanged, although US CPI seen accelerating (core little changed). After the Empire State Manufacturing beat yesterday, watch for the Philly Fed. Note NAHB Housing seen flat.
After the UK 100 broke out above 6775 and went to test October highs 6820 all eyes on whether 6775 reverts to support to maintain the uptrend. Daily momentum now nicely positive.
In FX, the USD index holding around 81 after positive macro data and bank results supporting tapering and hawkish Fed member comments. GBP/USD weaker down around 1.635 while EUR/USD testing rising support from July at 1.358. USD/JPY back above 104.5.
Gold back around $1240 held back by stronger USD-2013. Oil has received a boost thanks to another big US inventory drawdown with US Light Crude up above $94 and Brent near the upper end of its recent $106-108 range.
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