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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Glencore PLC | 117.1 | 6.6 | 5.9 | -60.8 |
| Ashtead Group PLC | 987 | 37.0 | 3.9 | -14.3 |
| GKN PLC | 287.5 | 9.6 | 3.5 | -16.4 |
| Vodafone Group PLC | 215.1 | 7.1 | 3.4 | -3.4 |
| Antofagasta PLC | 561 | 15.5 | 2.8 | -25.5 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Travis Perkins PLC | 1845 | -118.0 | -6.0 | -0.7 |
| Pearson PLC | 950 | -48.5 | -4.9 | -20.2 |
| Kingfisher PLC | 351 | -15.4 | -4.2 | 3.1 |
| Smiths Group PLC | 984 | -27.0 | -2.7 | -10.4 |
| Wolseley PLC | 3730 | -72.0 | -1.9 | 1.2 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,376.3 | 27.9 | 0.44 | -2.9 |
| UK | 17,044.5 | 7.8 | 0.05 | 6.0 |
| FR CAC 40 | 4,802.2 | 107.1 | 2.28 | 12.4 |
| DE DAX 30 | 10,492.0 | 253.9 | 2.48 | 7.0 |
| US DJ Industrial Average 30 | 17,489.3 | 320.8 | 1.87 | -1.9 |
| US Nasdaq Composite | 4,920.1 | 79.9 | 1.65 | 3.9 |
| US S&P 500 | 2,052.5 | 33.6 | 1.66 | -0.3 |
| JP Nikkei 225 | 18,845.0 | 409.1 | 2.22 | 8.0 |
| HK Hang Seng Index 48 | 23,157.0 | 311.7 | 1.36 | -1.9 |
| AU S&P/ASX 200 | 5,351.6 | 87.7 | 1.67 | -1.1 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 45.50 | 0.06 | 0.12 | -15.3 |
| Crude Oil, Brent ($/barrel) | 48.43 | 0.40 | 0.83 | -15.9 |
| Gold ($/oz) | 1168.20 | 2.70 | 0.23 | -1.3 |
| Silver ($/oz) | 15.87 | 0.04 | 0.24 | 1.2 |
| GBP/USD – US$ per £ | 1.541 | – | 0.14 | -1.1 |
| EUR/USD – US$ per € | 1.111 | – | 0.25 | -8.2 |
| GBP/EUR – € per £ | 1.387 | – | -0.12 | 7.7 |
Click graph to enlarge
UK 100 Index called to open +30pts at 6404, with the index having come back from overnight highs 6430 but remaining above prior resistance at October falling highs. Bulls will be reinvigorated by the potential for further gains today in the form of a second leg to the October rally, while bears will hope that Eurozone QE will spook rather than spur. Watch levels: Bullish 6500, Bearish 6290.
The bullish opening call for Europe comes after the ECB yesterday hinted at further QE – with the UK and US having engaged in three rounds each, markets encouraged by potential for the Eurozone to follow suit meaning cheap money for longer. Considerably longer.
Asian markets following positive cues from the US, which itself reacted well to the dovish mood in Europe in addition to some good earnings reports from Microsoft, AT&T and Google’s parent company Alphabet. Keep an eye on ARM Holdings (ARM) following strong Q3 performances in the US tech sector. US macro data was mixed, putting a cap on Wall St's gains for the time being, but individual data prints likely to be forgotten about quickly. The subject of interest rates sticks like glue!
In other news, David Cameron took Xi Jinping down the pub for fish and chips before the Chinese premier visits Manchester to survey the damage he’s done to the North of England with all that cheap steel he keeps dumping onto the market.
Oil little changed since yesterday with both WTI and Brent Crude still in a downtrend since 9 Oct. No fresh supply drivers, which means the world is still oversupplied while a stronger dollar lurks as Eurozone monetary policy sends bond investors across the pond.
Gold likely to suffer too today with European investors going risk-on, physical demand in India dropping off ahead of holiday season (though that will be balanced by a pick-up in Chinese demand in early Oct) and that USD strength potentially taking even more shine off the yellow metal.
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