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| Yesterday’s UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Fresnillo | 1397 | 47 | 3.5 | 14.4 |
| NMC Health | 2903 | 87 | 3.1 | 88.0 |
| Mediclinic International | 638 | 15.5 | 2.5 | -17.3 |
| Old Mutual | 227.8 | 5.5 | 2.5 | 9.9 |
| Antofagasta | 984.5 | 20.5 | 2.1 | 45.9 |
| Yesterday’s UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Ferguson | 5325 | -100 | -1.8 | 7.3 |
| Sky | 1000 | -15 | -1.5 | 0.9 |
| Rolls-Royce Group | 849.5 | -10 | -1.2 | 27.2 |
| Worldpay Group | 424 | -4.6 | -1.1 | 57.1 |
| Centrica | 137.4 | -1.4 | -1.0 | -41.3 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,620.7 | 28.0 | 0.37 | 6.7 |
| UK | 20,640.0 | 158.9 | 0.78 | 14.2 |
| FR CAC 40 | 5,368.8 | 4.1 | 0.08 | 10.4 |
| DE DAX 30 | 13,070.0 | -2.8 | -0.02 | 13.8 |
| US DJ Industrial Average 30 | 24,774.3 | 28.0 | 0.11 | 25.4 |
| US Nasdaq Composite | 6,939.3 | 3.1 | 0.04 | 28.9 |
| US S&P 500 | 2,682.6 | 2.1 | 0.08 | 19.8 |
| JP Nikkei 225 | 22,784.0 | -127.2 | -0.56 | 19.2 |
| HK Hang Seng Index 50 | 29,778.3 | 180.6 | 0.61 | 35.3 |
| AU S&P/ASX 200 | 6,088.1 | 18.3 | 0.30 | 7.5 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 59.78 | 0.28 | 0.46 | 10.9 |
| Crude Oil, Brent ($/barrel) | 66.18 | -0.20 | -0.3 | 16.4 |
| Gold ($/oz) | 1291.09 | 4.49 | 0.35 | 12.1 |
| Silver ($/oz) | 16.71 | 0.54 | 3.31 | 3.1 |
| GBP/USD – US$ per £ | 1.3436 | – | 0.25 | 8.8 |
| EUR/USD – US$ per € | 1.1932 | – | 0.27 | 13.5 |
| GBP/EUR – € per £ | 1.1260 | – | -0.02 | -4.0 |
Click graph to enlarge
UK 100 Index called to open flat at 7620, having fallen back from yesterday’s fresh record highs however remaining supported by rising lows. Bulls will want to see the rally from support continue to fresh highs, while Bears are looking for 7620 to give way for a break back below 7600. Watch levels: Bullish 7630, Bearish 7615.
Calls for a muted open come following yesterday’s record close on the UK’s blue chip market and after a positive, albeit quiet session on Wall Street. The US dollar extending its sell-off, falling to its lowest level since 1 December, has aided the commodities rally, while growth barometer Copper trading a fresh 4-year high has sparked confidence that global economic growth will be broadly positive in 2018.
US equity markets closed higher across the board yesterday, bouncing back from a sharply negative Boxing Day session. Heavily weighted stocks McDonald’s and Caterpillar helped the Dow Jones to outperform, offsetting Goldman Sachs’ drag, while Real Estate and Utilities outperformed on the S&P 500. The Nasdaq closed just above breakeven following a Boxing Day sell-off due to Apple losses.
Crude Oil prices have continued to climb from yesterday morning’s lows as a weaker US dollar and a bullish inventory report from the API aids sentiment, however many investors will likely remain focused on progress made towards the reopening of the key Forties North Sea pipeline. Global benchmark Brent has broken back above $66.5, now just $0.5 from Boxing Day’s 30-month highs, while West Texas is once again pointing north towards the key $60 handle.
Gold has extended its gains overnight, trading yet another fresh 4-week high above $1290 as the USD continues to trend lower, with the global reserve currency now at its lowest level since the first day of December.
In focus today amidst a holiday-lightened macroeconomic calendar will be UK BBA Mortgage Approvals (9:30am), expected to rebound from October’s 13-month low, however are still seen lower than previous readings in 2017, reflecting a falling trend in official government statistics since July.
This afternoon, US Wholesale Inventories (1:30pm) are expected to return to growth in November following last month’s first contraction since April, the Chicago PMI (2:45pm) is forecast to continue its retreat from October’s near 3-year high, while holiday-delayed US EIA Crude Oil Inventories (4pm) will look to repeat last night’s larger than expected API inventory drawdown.
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