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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Barclays PLC | 240.8 | 18.3 | 8.2 | -11.5 |
| Royal Bank of Scotland Group (The) PLC | 388 | 22.7 | 6.2 | 14.8 |
| International Consolidated Airlines Group SA | 409.2 | 18.5 | 4.7 | 1.9 |
| St James’s Place PLC | 745 | 32.5 | 4.6 | 2.3 |
| ARM Holdings PLC | 875 | 36.5 | 4.4 | -20.4 |
| Schroders PLC | 2411 | 80.0 | 3.4 | -7.2 |
| Rolls-Royce Group PLC | 843 | 27.5 | 3.4 | -33.9 |
| Kingfisher PLC | 302.5 | 9.1 | 3.1 | -21.4 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Randgold Resources Ltd | 3678 | -101.0 | -2.7 | -3.0 |
| Fresnillo PLC | 697.5 | -19.0 | -2.7 | -6.4 |
| Direct Line Insurance Group PLC | 276 | -5.5 | -2.0 | 10.6 |
| TUI Travel PLC | 398.6 | -2.2 | -0.6 | -3.5 |
| Morrison (Wm) Supermarkets PLC | 154.8 | -0.8 | -0.5 | -40.7 |
| Standard Chartered PLC | 939.6 | -4.0 | -0.4 | -30.9 |
| Sainsbury (J) PLC | 245.5 | -1.0 | -0.4 | -32.7 |
| Intertek Group PLC | 2722 | -11.0 | -0.4 | -13.5 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,546.5 | 82.9 | 1.28 | -3.0 |
| UK | 15,501.4 | 203.1 | 1.33 | -2.7 |
| FR CAC 40 | 4,233.1 | 91.9 | 2.22 | -1.5 |
| DE DAX 30 | 9,326.9 | 212.0 | 2.33 | -2.4 |
| US DJ Industrial Average 30 | 17,390.5 | 195.1 | 1.13 | 4.9 |
| US Nasdaq Composite 100 | 4,630.7 | 64.6 | 1.41 | 10.9 |
| US S&P 500 | 2,018.1 | 23.4 | 1.17 | 9.2 |
| JP Nikkei 225 | 16,413.8 | 755.6 | 4.83 | 0.8 |
| HK Hang Seng Index 48 | 23,920.3 | -77.8 | -0.32 | 2.6 |
| AU S&P/ASX 200 | 5,506.9 | -19.7 | -0.36 | 2.9 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 80.08 | -0.63 | -0.77 | -18.2 |
| Crude Oil, Brent ($/barrel) | 85.57 | 0.62 | 0.73 | -23.3 |
| Gold ($/oz) | 1168.95 | -4.55 | -0.39 | -2.6 |
| Silver ($/oz) | 15.91 | -0.26 | -1.59 | -16.8 |
| Platinum ($/oz) | 1238.00 | -9.40 | -0.75 | -9.9 |
| GBP/USD – US$ per £ | 1.598 | – | -0.12 | -3.4 |
| EUR/USD – US$ per € | 1.249 | – | -0.25 | -8.9 |
| GBP/EUR – € per £ | 1.279 | – | 0.14 | 5.9 |
Click graph to enlarge
See Live Macro Calendar for full data line-up, incl. consensus expectations
UK 100 Index called to open -10pts at 6535, despite US markets finishing with decent gains following the BoJ’s unexpected stimulus boost and positive US macro data, with sentiment dialled back for the new week as focus returns to China growth worries with Official Manufacturing PMI missing expectations and the Non-Manufacturing PMI falling a touch, even if HSBC Manufacturing PMI improved in-line with expectations.
The UK 100 remains above breakout level 6500 which should serve as support for any weakness, and while we still believe in completion of a bullish Inverse Head & Shoulders reversal following the break above 6400 (neckline 6400; target 6730) we note 6560 resistance since Friday. Watch levels: bullish 6560, bearish 6520.
US markets closed higher after strong survey readings from the Chicago PMI (highest since Oct 2013) and Uni of Michigan Confidence (highest since Mar 2007) offset disappointments from the US Income and Spending (both negative) and comments by the Fed’s Lacker that “the risks associated with raising rates too soon are not gigantic” and good deal of confidence in inflation returning to 2% target.
Asian markets in the red overnight (Japan’s Nikkei closed) with risk sentiment weighed down by the still strong USD (Jun 2010 highs) from a more hawkish Fed and renewed fears of China slowing with the Official Manufacturing PMI falling to a 5-month low even if the HSBC Manufacturing PMI rose modestly as exports picked up suggesting global recovery, even if momentum waned. Note HSBC expects further policy easing.
Data-wise overnight, away from China, South Korean HSBC Manufacturing PMI slowed up and remains in contraction, India’s accelerated but Taiwan’s fell and Indonesia’s went into contraction while Australian Building Approvals plunged following strong growth in August.
In focus today we have a day full of manufacturing with updates on Eurozone Manufacturing PMI and its constituents, with FR, DE and EZ seen improving but IT and ES slipping. All still growing though. The UK figure is expected to have given up a slight bit of ground as is the US with both its PMI and ISM reports. Note HSBC reports Q3 results just after European markets open.
In commodities, Gold has fallen further, to a new 4 year low $1160 where it has found bit of support before regaining $1170 with the strong USD hurting most along with BoJ stimulus highlighting divergence between central banks and strong gains in equities reducing demand for the safehaven metal. However, the China data over the weekend has likely contributed to support at recent lows.
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See Live Macro Calendar for full data line-up, incl. consensus expectations
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