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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Shire PLC | 4996 | 190.0 | 4.0 | 75.2 |
| ITV PLC | 202.5 | 7.4 | 3.8 | 4.4 |
| British Land Co PLC | 718 | 17.0 | 2.4 | 14.2 |
| British Sky Broadcasting Group PLC | 917.5 | 20.0 | 2.2 | 8.7 |
| Severn Trent PLC | 1926 | 40.0 | 2.1 | 13.0 |
| Whitbread PLC | 4313 | 77.0 | 1.8 | 15.0 |
| Ashtead Group PLC | 923 | 16.0 | 1.8 | 21.5 |
| Pearson PLC | 1128 | 19.0 | 1.7 | -15.9 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| GKN PLC | 348.6 | -5.7 | -1.6 | -6.6 |
| Royal Bank of Scotland Group (The) PLC | 319.2 | -4.5 | -1.4 | -5.6 |
| Hargreaves Lansdown PLC | 1101 | -14.0 | -1.3 | -18.7 |
| London Stock Exchange Group PLC | 1926 | -24.0 | -1.2 | 11.1 |
| Associated British Foods PLC | 2842 | -34.0 | -1.2 | 16.2 |
| Intertek Group PLC | 2640 | -26.0 | -1.0 | -16.1 |
| Prudential PLC | 1372 | -13.0 | -0.9 | 2.4 |
| Meggitt PLC | 541.5 | -5.0 | -0.9 | 2.7 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,749.5 | 11.1 | 0.17 | 0.0 |
| UK | 15,556.8 | 2.8 | 0.02 | -2.4 |
| FR CAC 40 | 4,335.3 | 19.2 | 0.44 | 0.9 |
| DE DAX 30 | 9,720.0 | -33.9 | -0.35 | 1.8 |
| US DJ Industrial Average 30 | 17,100.2 | 123.4 | 0.73 | 3.2 |
| US Nasdaq Composite 100 | 4,432.2 | 68.7 | 1.57 | 6.1 |
| US S&P 500 | 1,978.2 | 20.1 | 1.03 | 7.0 |
| JP Nikkei 225 | 15,215.7 | -154.6 | -1.01 | -6.6 |
| HK Hang Seng Index 48 | 23,433.5 | -21.3 | -0.09 | 0.5 |
| AU S&P/ASX 200 | 5,539.9 | 8.2 | 0.15 | 3.5 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 101.71 | 0.04 | 0.03 | 3.0 |
| Crude Oil, Brent ($/barrel) | 107.09 | -0.94 | -0.87 | -2.5 |
| Gold ($/oz) | 1313.70 | 2.30 | 0.18 | 8.8 |
| Silver ($/oz) | 21.00 | 0.07 | 0.32 | 7.7 |
| Platinum ($/oz) | 1491.30 | -15.00 | -1 | 8.5 |
| GBP/USD – US$ per £ | 1.709 | – | 0 | 3.3 |
| EUR/USD – US$ per € | 1.354 | – | 0.11 | -1.6 |
| GBP/EUR – € per £ | 1.262 | – | -0.09 | 4.8 |
Click graph to enlarge
See Live Macro Calendar for full data line-up, incl. consensus expectations
UK 100 called to open +10pts at 6755, helped by a rebound and strong finish by US markets on Friday as traders focused on strong earnings and M&A rather than bad news and the overnight session in Asia-Pacific demonstrated caution yet calm despite the cocktail of geopolitical risk. Note Japan’s Nikkei closed.
The weekend saw US Secretary of State Kerry highlight evidence of Russian involvement via separatists in the tragic MH17 disaster in Ukraine which has added to tensions and the WSJ reporting that Western powers threaten President Putin with enhanced sanctions if investigators are not permitted access to the disaster site.
In the Middle East, the Gaza conflict death toll has risen significantly over the weekend and the Dubai stock exchange fell almost 6% on Sunday due to concerns related to the ownership of a major property developer. Note ratings agencies DBRS and Fitch, respectively, affirming the UK and Germany’s AAA stable ratings, while S&P has upped Ireland’s outlook to positive.
After the uncertainty related to Portugal, Friday night saw Espirito Santo International (holding company for the nation’s second largest bank) filing for creditor protection saying it can’t meet its maturing debt obligations. The complex web of shareholdings may see a return of the recently revived debt crisis fears.
After positive China GDP growth last week was followed by more weak property price data, it is thought the government wishes to revive mortgage-backed debt sales for the first time in 6 years to help stabilize things. The Chinese Securities Journal suggests China GDP growth stabilizing around 6% as investment cools, thus requiring more economic reform, while HSBC upped its 2014 China growth estimate to 7.5%.
Overnight, UK Rightmove House Prices fell for the first fall in 2014 amid stricter lending rules and fears of a BoE rate hike. Watch the house builders at the open!
In focus today, amid a very light macro slate, we have only the US Chicago Fed National Activity Index to look forward to at 1.30pm and Q2 results from Oil services major Halliburton before the US markets open and Texas Instruments reporting after the US close.
Watch out for UK retail name Tesco (TSCO) which has announced a profits warning due to an even more challenging trading conditions that it anticipated at its Q1 statement on June 4. This also results in the departure of CEO Phil Clarke who will be replaced by Unilever (ULVR) executive Dave Lewis.
In commodities, Gold has found support at the $1305 we highlighted last week thanks to geopolitical risk and risen back to $1310 despite hedge funds cutting their bullish bets for first time in six weeks as the recent rally (longest since Aug 2011) snapped and the metal lost 2% last week from $1345 highs. The outlook for US rates still key in terms of inflation expectations.
In Oil, WTI and Brent off their $104/$108 .7highs of last week but still with support following the bounce from recent lows helped by the combination of US stockpile drop and geopolitical unrest.
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See Live Macro Calendar for full data line-up, incl. consensus expectations
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