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Morning Report

UK 100 Leaders Close Chg % Chg % YTD
Meggitt PLC 403.9 10.4 2.6 14.48
Polymetal International PLC 883 18.5 2.1 -19.29
Royal Bank of Scotland Group (The) PLC 205.7 4.2 2.1 1.93
CRH PLC 1170 19 1.7 -8.59
Experian PLC 956 13 1.4 9.19
BAE Systems PLC 296.9 4 1.4 4.14
Rolls-Royce Group PLC 885 8.5 1 18.55
Marks & Spencer Group PLC 321 3 0.9 3.22
UK 100 Laggards Close Chg % Chg % YTD
IMI PLC 810 -28 -3.3 6.58
Ashmore Group PLC 333.8 -10.2 -3 -0.06
Anglo American PLC 2042.5 -61.5 -2.9 -14.14
Burberry Group PLC 1255 -34 -2.6 5.91
ITV PLC 72.85 -1.95 -2.6 6.9
ARM Holdings PLC 495.9 -13.1 -2.6 -16.23
Eurasian Natural Resources Corporation PLC 410.3 -9.4 -2.2 -35.44
Xstrata PLC 815.6 -18.4 -2.2 -16.61
Major World Indices Mid/Close Chg % Chg % YTD
UK 100 5627.33 -35.3 -0.62 0.99
10983.3 -87.34 -0.79 8.71
CAC 40 3156.8 -11.99 -0.38 -0.1
DAX (Xetra) 6387.57 -22.54 -0.35 8.29
Dow Jones Industrial Average 12736.3 -36.17 -0.28 4.25
Nasdaq Comp. 2931.77 -5.56 -0.19 12.54
S&P 500 1352.46 -2.22 -0.16 7.54
Nikkei 225 9006.78 132.67 1.5 6.52
Hang Seng 19441.46 416.19 2.19 5.46
S&P/ASX 200 4094.63 49.8 1.23 0.94
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil Light Sweet Composite 84.79 -0.31 -0.36 -14.35
Gold Composite 1585.4 -1.6 -0.1 1.21
Silver Composite 27.25 -0.04 -0.15 -1.89
Palladium Composite 583.55 6.55 1.14 -11.15
Platinum Composite 1440.1 -4.9 -0.34 2.78
GBP/USD – US $ per £ 1.5517 -0.06 -0.08
EUR/USD – US$ per Euro 1.2291 -0.21 -5.12
GBP/EUR – Euros per £ 1.2625 0.18 5.23
UK 100 is called to open 15 points higher

Click graph to enlarge

Today's Main Events

 

  • 07:45               France             Industrial Production
  • 07:45               France             Manufacturing Production
  • 09:30               UK                    Industrial Production
  • 09:30               UK                    Manufacturing Production
  • 09:30               UK                    Trade Balance
  • 13:15               Canada            Housing Starts

 

See Live Macro Calendar for all data, incl. consensus expectations

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

UK 100 called to open slightly higher to the tune of around 10-15 points this morning as the markets digest mixed data from China this morning. The world’s second largest economy reported that its trade surplus jumped 42.9% to $31.7bn from the previous month.

Overnight, the Dow Jones closed down 36 points due to weak macro data from Asia as well as further concerns over Euro debt-crises. Alcoa kicked off second quarter earnings season with EPS (earnings per share) at 6 cents vs the expected 5 cents. Q2 revenues were $5.96bn vs $5.81bn expected. Keep an eye on our Live Macro Calendar as we have some heavyweights  in both the UK and US set to report over the next couple of weeks. In Asia, the Hang Seng was trading around 19,422 whilst the Nikkei was recently down around 3 points at 8,859.

 Gold and Oil trading fairly flat today ($1,585 and $84.94 respectively) with news of a slowing Chinese economy not likely to help boost the price of commodities.

Keep an eye on ASOS, Marks & Spencer, Smiths News and SIG as markets digest their trading statements this morning. Macro data to look out for today will be Industrial/Manufacturing Production as well as the Trade balance all from the UK at 09:30 this morning.

 

Overnight Macro Data: (Source: Reuters/DJ Newswires)

  • China               Trade Balance                         BETTER
  • Japan               Consumer Confidence       WORSE
  • China               Exports                                    WORSE
  • China               Imports                                    WORSE

See Live Macro calendar for all details

 

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

  • Smiths News sees full-year profit at top end
  • Balfour Beatty trading in line, confident on year
  • London Capital Group sees H1 pretax around 2.0 mln stg
  • Interserve on track for year after good H1
  • Bwin.party Q2 in line helped by casino and bingo
  • ASOS says retail sales rise 31 pct in Q1
  • SIG expects profitability to be broadly flat compared to H1 2011
  • Centamin posts record gold production at Sukari
  • Galliford says well placed to deliver growth
  • Ferrexpo production 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.

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