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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Sainsbury (J) | 292.4 | 3.6 | 1.3 | 13.0 |
| Travis Perkins | 1827 | 21.0 | 1.2 | -7.4 |
| Tesco | 186.6 | 1.6 | 0.9 | 24.8 |
| Kingfisher | 364.4 | 3.0 | 0.8 | 10.6 |
| Barratt Developments | 514 | 4.0 | 0.8 | -17.9 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Paddy Power Betfair | 8375 | -340.0 | -3.9 | -7.8 |
| Land Securities Group | 1074 | -34.0 | -3.1 | -8.8 |
| Associated British Foods | 3131 | -96.0 | -3.0 | -6.3 |
| Glencore | 161.8 | -5.0 | -3.0 | 78.8 |
| Rio Tinto | 2334.5 | -70.0 | -2.9 | 17.9 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,310.4 | -71.0 | -1.11 | 1.1 |
| UK | 16,871.5 | -107.9 | -0.64 | -3.2 |
| FR CAC 40 | 4,569.7 | -13.2 | -0.29 | -1.5 |
| DE DAX 30 | 10,373.5 | -62.2 | -0.60 | -3.4 |
| US DJ Industrial Average 30 | 18,003.8 | 21.3 | 0.12 | 3.3 |
| US Nasdaq Composite | 4,906.2 | -39.7 | -0.80 | -2.0 |
| US S&P 500 | 2,091.6 | 0.1 | 0.00 | 2.3 |
| JP Nikkei 225 | 17,439.3 | -133.2 | -0.76 | -8.4 |
| HK Hang Seng Index 50 | 21,355.7 | -111.4 | -0.52 | -2.6 |
| AU S&P/ASX 200 | 5,236.4 | -36.4 | -0.69 | -1.1 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 43.32 | -0.72 | -1.62 | 16.9 |
| Crude Oil, Brent ($/barrel) | 44.83 | -0.67 | -1.47 | 19.3 |
| Gold ($/oz) | 1236.15 | 2.45 | 0.2 | 16.6 |
| Silver ($/oz) | 17.05 | 0.07 | 0.4 | 23.3 |
| GBP/USD – US$ per £ | 1.44 | – | 0.23 | -2.0 |
| EUR/USD – US$ per € | 1.12 | – | 0.2 | 3.5 |
| GBP/EUR – € per £ | 1.29 | – | 0.04 | -5.3 |
Click graph to enlarge
UK 100 called to open -5pts at 6305, doing its best to hold the April and February uptrends, trying to engineer a bounce off the round number to keep the index in positive territory for 2016 like its US counterparts. Bulls will be looking for the downtrend since Thursday’s YTD highs to be bettered while the Bears are looking for a better test to the downside than we saw on Friday. Rising lows since Friday's worst levels. Watch levels: Bullish 6325, Bearish 6275.
Expectations for a negative European open are nonetheless muted in light of the poor start to the week in Asia after a mixed US finish on Friday. This as markets prepare for a major central bank updates from the US Federal Reserve and Bank of Japan (BoJ) with expectations for monetary policy to remain accommodative, possibly even more so if the BoJ follows through on recent hints.
Japan’s Nikkei held back by a stronger JPY (despite the prospect of easier monetary policy) while an oil price (and industrial metals) off its highs holds back regional sentiment after last week’s sharp gains. Note bullishness also hampered by the read across from last week’s poor US tech results and persistent jitters about China debt pushing stocks to their lowest in a month. Note Australia closed for ANZAC day holiday.
US bourses closed mixed on Friday, amid a lack of major macro data releases, with the tech sector weighing (Microsoft [MSFT] shares in particular closing -7% on the day - pretty much where they opened). Mixed equity markets also reflected an oil price that’s seemingly ignoring the fundamentals - coming back from rig count highs over the weekend yet still trending up longer term despite no coordinated price-positive action from major oil producing nations. It’s wild out there in the oil markets…! Crude prices are looking fairly solid with Brent comfortably above $44 and WTI $43 this morning.
Keep an eye on Gold’s hourly chart this morning, as the yellow metal consolidates following Friday’s sell off. A break back above the rising trend line from the 2 Apr low would please the bulls here, while bears will look for another down move towards support at $1227.
In focus today will be German IFO surveys with improvements pencilled in by consensus although US CBI data may have deteriorated. In the afternoon, US New Home Sales and the Dallas Fed may move stateside sentiment given the progress anticipated. US results-wise, watch out for Halliburton given the importance of its links to oil as well as Xerox for its ramifications on business sentiment.
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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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