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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Reckitt Benckiser Group PLC | 6371 | 405.0 | 6.8 | 1.4 |
| Standard Chartered PLC | 453.05 | 24.1 | 5.6 | -19.6 |
| International Consolidated Airlines Group SA | 504.5 | 24.7 | 5.2 | -17.4 |
| Anglo American PLC | 393.05 | 19.1 | 5.1 | 31.3 |
| Hammerson PLC | 559.5 | 24.5 | 4.6 | -6.8 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Fresnillo PLC | 873.5 | -23.5 | -2.6 | 23.4 |
| Randgold Resources Ltd | 6030 | -125.0 | -2.0 | 45.6 |
| Berkeley Group Holdings (The) PLC | 3161 | -20.0 | -0.6 | -14.3 |
| BHP Billiton PLC | 693.6 | -3.0 | -0.4 | -8.7 |
| SABMiller PLC | 4138 | -10.0 | -0.2 | 1.7 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 5,824.3 | 116.7 | 2.04 | -6.7 |
| UK | 15,728.0 | 296.8 | 1.92 | -9.8 |
| FR CAC 40 | 4,115.3 | 120.2 | 3.01 | -11.3 |
| DE DAX 30 | 9,206.8 | 239.3 | 2.67 | -14.3 |
| US DJ Industrial Avg 30 | 15,973.8 | Holiday | Holiday | -8.3 |
| US Nasdaq Composite | 4,337.5 | Holiday | Holiday | -13.4 |
| US S&P 500 | 1,864.8 | Holiday | Holiday | -8.8 |
| JP Nikkei 225 | 16,054.4 | 168.4 | 1.05 | -15.7 |
| HK Hang Seng Index 48 | 19,172.3 | 254.2 | 1.34 | -12.5 |
| AU S&P/ASX 200 | 4,910.0 | 66.6 | 1.37 | -7.3 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 30.75 | 0.93 | 3.1 | -17.1 |
| Crude Oil, Brent ($/barrel) | 34.81 | 1.16 | 3.45 | -7.4 |
| Gold ($/oz) | 1198.90 | -9.50 | -0.79 | 13.1 |
| Silver ($/oz) | 15.24 | -0.09 | -0.6 | 10.3 |
| GBP/USD – US$ per £ | 1.44 | – | -0.32 | -2.2 |
| EUR/USD – US$ per € | 1.12 | – | -0.16 | 2.7 |
| GBP/EUR – € per £ | 1.29 | – | -0.14 | -4.8 |
Click graph to enlarge
UK 100 Index called to open +45pts at 5865, keeping with Friday’s accelerated uptrend and following a pause for breath around 5850 overnight to consolidate gains of 6.4% from Thursday’s 5500 lows. Having broken above 5800 the index now sits just beyond half-way from the floor and ceiling of a 4-month falling channel with upside potential to 6000. Watch levels: Bullish 5870, Bearish 5830
The positive opening call comes as commodities prices continues to rise on hopes of further stimulus the world over and oil getting an extra boost from talk of a Saudi/Russia output discussion. This, coupled with Asian equities delivering further gains overnight (positive lead from Europe with US bourses closed for Presidents Day) is helping keep market recovery sentiment alive and well.
Chinese stocks rallied strongly overnight, on stimulus hopes but also tracking a rebound in the oil price after reports that Russian and Saudi (and some other OPEC) oil ministers were actually going to sit down and discuss the supply glut. Talks have since begun.
Japan’s Nikkei, meanwhile, is currently more or less flat after taking a circa 800pt round trip as markets there try to work how exactly Abe’s government is going to move forward after both Japan and China posted worse than expected trade data. Note the BoJ’s negative rates come into effect today.
In focus today will be UK inflation data given the rapidly eroding expectations of a UK rate rise before 2017. Thereafter, ZEW Surveys will provide an update on sentiment in Germany and the Eurozone before the US updates on Empire State Manufacturing and its Housing market. Note the Fed’s Harker speaking along with newbie Kashkari.
Corporate-wise, note mining behemoth Anglo American (AAL)’s results (big loss, divi suspended) are likely to be taken neutral to positive by markets this morning.
Crude prices are on the up amid reports that Russian and Saudi oil ministers are discussing the global supply glut. Of course, discussing something isn’t the same as actually doing something, but this could be an indication of something bigger to come. Markets clearly hopeful that it is. Brent has broken above falling highs while WTI is looking to test its own resistance just below £32.
Gold’s continued to retrace from 11 feb highs $1263 overnight, with riskier investments continuing to be more attractive to investors and a re-strengthening USD adding to downward pressure. Note the $1200 level is key moving into Tuesday.
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