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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Anglo American PLC | 363.35 | 35.1 | 10.7 | 21.3 |
| Antofagasta PLC | 446.3 | 16.0 | 3.7 | -4.9 |
| Standard Chartered PLC | 453.05 | 15.6 | 3.6 | -19.6 |
| Burberry Group PLC | 1218 | 33.0 | 2.8 | 1.9 |
| Tesco PLC | 174.6 | 4.7 | 2.8 | 16.8 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Berkeley Group Holdings (The) PLC | 3390 | -178.0 | -5.0 | -8.1 |
| Inmarsat PLC | 1020 | -48.0 | -4.5 | -10.3 |
| Persimmon PLC | 1965 | -74.0 | -3.6 | -3.1 |
| Sky PLC | 1028 | -38.0 | -3.6 | -7.6 |
| ITV PLC | 255.5 | -9.0 | -3.4 | -7.6 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 5,848.1 | -50.7 | -0.86 | -6.3 |
| UK | 16,002.3 | -84.4 | -0.52 | -8.2 |
| FR CAC 40 | 4,200.7 | -27.9 | -0.66 | -9.4 |
| DE DAX 30 | 9,286.2 | -107.1 | -1.14 | -13.6 |
| US DJ Industrial Average 30 | 16,205.0 | -211.5 | -1.29 | -7.0 |
| US Nasdaq Composite | 4,363.1 | -146.4 | -3.25 | -12.9 |
| US S&P 500 | 1,880.1 | -35.4 | -1.85 | -8.0 |
| JP Nikkei 225 | 17,004.3 | 184.7 | 1.10 | -10.7 |
| HK Hang Seng Index 48 | 19,288.2 | Closed | Closed | -12.0 |
| AU S&P/ASX 200 | 4,975.4 | -0.8 | -0.02 | -6.1 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 31.11 | -0.53 | -1.66 | -16.1 |
| Crude Oil, Brent ($/barrel) | 34.31 | -0.12 | -0.35 | -8.8 |
| Gold ($/oz) | 1165.65 | -8.45 | -0.72 | 9.9 |
| Silver ($/oz) | 14.94 | -0.09 | -0.62 | 8.1 |
| GBP/USD – US$ per £ | 1.45 | – | 0.03 | -1.6 |
| EUR/USD – US$ per € | 1.11 | – | -0.11 | 2.6 |
| GBP/EUR – € per £ | 1.30 | – | 0.2 | -4.1 |
Click graph to enlarge
UK 100 Index called to open +30pts at 5880 after bouncing from lows of 5820 late Friday to maintain the trend of shallow rising support from 26 Jan. This leaves the index in a 120pt narrowing range which may attract range traders until we get an update on whether the reversal from Jan lows can get a second wind with a break beyond 6000 or whether the longer-term downtrend kicks in again. Watch levels: Bullish 5890, Bearish 5850.
The positive opening call comes after an up-day for Japanese stocks thanks to JPY weakness and a breakeven session for Aussie equities as commodities regained some poise amid a quiet session in Asia Pacific on account of many markets being closed for Chinese Lunar New Year (CN, HK). This follows a weak US close on Friday as debate grew about US jobs report and whether it can allow the Fed to keep hiking.
US bourses closed in the red Friday after a generally lacklustre set of jobs data - the main NFP print missed expectations with December’s figure revised down. Nonetheless, unemployment fell to 4.9% and wage growth was seen picking up. So did the Fed hike too soon? Whether or not that’s the case, the case for further rate hikes this year is losing strength.
This last point is important with Fed Chair Yellen set to testify in Washington on Wednesday in her first live update since holding pat in Jan following the December decision to hike. Markets will be looking for hints about a slower pace of rate rises on account of market turbulence and after recent dovish comments from committee members. This could see the USD move around again, with implications for the commodities space.
In focus today we are sure to have continued fallout from the US jobs report and its implication for Fed policy amid a quiet line-up with just Eurozone Sentix Investor Confidence and US Labour market Conditions on the macro data slate.
Crude prices are struggling beneath 4-days of falling highs, with a more stable USD hindering last week’s upwards progress. Still no sign of OPEC / non-OPEC cooperation, although we’re seeing more members stepping up to voice their concerns, most recently Iran which, despite its intention to further flood the market, is also asking for an emergency OPEC meeting.
Gold is off its Friday evening $1174 highs after breaking the key $1160 level. Fairly solid support at $1164 while the USD takes a break from declines. Another leg down for the dollar, another leg up for gold? Continued equity market volatility combined with diminishing possibility of further US rate hikes keep gold in favour into this week, but note technicals still overbought.
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