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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Sports Direct International PLC | 799 | 28.0 | 3.6 | 11.8 |
| Smith & Nephew PLC | 1064 | 34.0 | 3.3 | 23.6 |
| Melrose Industries PLC | 280.5 | 5.2 | 1.9 | -8.2 |
| Mondi PLC | 1095 | 20.0 | 1.9 | 4.7 |
| Weir Group PLC | 2629 | 43.0 | 1.7 | 23.3 |
| Whitbread PLC | 4243 | 59.0 | 1.4 | 13.1 |
| Standard Life PLC | 393.5 | 5.4 | 1.4 | 9.4 |
| Friends Life Group Ltd | 314 | 4.3 | 1.4 | -11.3 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| National Grid PLC | 830.5 | -47.0 | -5.4 | 5.4 |
| WPP Group PLC | 1261 | -27.0 | -2.1 | -8.6 |
| Sainsbury (J) PLC | 327.6 | -6.2 | -1.9 | -10.3 |
| Antofagasta PLC | 778 | -12.0 | -1.5 | -5.6 |
| Centrica PLC | 329.7 | -5.0 | -1.5 | -5.2 |
| Tesco PLC | 293.5 | -4.0 | -1.3 | -12.2 |
| Vodafone Group PLC | 205.1 | -2.5 | -1.2 | -30.5 |
| SABMiller PLC | 3255 | -38.5 | -1.2 | 5.0 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,818.63 | -17.67 | -0.26 | 1.03 |
| UK | 15,986.50 | 14.61 | 0.09 | 0.32 |
| FR CAC 40 | 4,501.00 | -2.69 | -0.06 | 4.77 |
| DE DAX 30 | 9,926.67 | 6.93 | 0.07 | 3.92 |
| US DJ Industrial Average 30 | 16,737.50 | 15.16 | 0.09 | 0.97 |
| US Nasdaq Composite 100 | 4,251.64 | 17.56 | 0.41 | 1.80 |
| US S&P 500 | 1,927.88 | 3.64 | 0.19 | 4.30 |
| JP Nikkei 225 | 15,060.86 | -7.10 | -0.05 | -7.55 |
| HK Hang Seng Index 48 | 23,108.34 | -43.37 | -0.19 | -0.85 |
| AU S&P/ASX 200 | 5,433.70 | -11.13 | -0.20 | 1.52 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 102.355 | 0.105 | 0.1 | 3.5968 |
| Crude Oil, Brent ($/barrel) | 108.29 | -0.82 | -0.75 | -1.4986 |
| Gold ($/oz) | 1244.35 | -0.15 | -0.01 | 3.2952 |
| Silver ($/oz) | 18.8125 | 0.0225 | 0.12 | -3.269 |
| Platinum ($/oz) | 1427.85 | -11.85 | -0.82 | 4.774 |
| GBP/USD – US$ per £ | 1.6745 | – | 0.04 | 1.142 |
| EUR/USD – US$ per € | 1.3602 | – | -0.01 | -1.0403 |
| GBP/EUR – € per £ | 1.2311 | – | 0.04 | 2.0737 |
Click graph to enlarge
See Live Macro Calendar for full data line-up, incl. consensus expectations
UK 100 called to open +5pts at 6820, another muted start, after US bourses closed with small gains (another record for S&P500) and Asia shows small losses after overnight data from China showed the HSBC PMI Services giving up some ground even if the composite getting back into growth territory.
The pause for breath ahead of the key ECB policy update this afternoon (don’t hold your breath for anything from the BoE) and US Jobs report on Friday thus continues, aided by mixed macro data used by traders as an excuse to avoid committing one way or the other.
Eurozone & US PMI Services finals were lower than prelims, US ADP jobs data (warm-up for Non-Farm payrolls) showed fewer jobs added in May, the US trade gap widened to the widest in over 2 years, US ISM Non-Manufacturing was better and the US Beige Book noted economic ‘expansion’ rather than ‘increase’ which was taken as an upgrade. This morning’s data shows a bigger than expected rebound in German Factory Orders.
Asian equities just in the red, trading again muted and within a tight range ahead of the ECB. Stocks in China recouped some of their losses after the HSBC PMI readings, but Australia’s ASX hindered by its trade balance swinging to a deficit due to lower commodity prices. Japan’s Nikkei sitting at breakeven held back by a the JPY rebounding from a 1-month low.
The UK index got as low as round number 6800 late yesterday, from where it bounced along with US to what could be support-turned-resistance around 6820 given that we have failed to better the level overnight. The index remains in a downtrend from 29 May with major support not available until 6770.
In focus this morning will be Eurozone Retail Sales seen slowing in April. Then it’s all about central bank policy in the afternoon, with the BoE set to sit tight, again, but news from the ECB expected to shake markets back into life. Rate cuts, negative interest rates, cheap money, hints at QE. Whatever we get, expectations are high. Would he dare disappoint by doing nothing, again. Until now, it’s been “Words speak louder than actions”. Whatever you do watch the EUR around 12:45 and again at 13:30 when President Draghi speaks.
In commodities, Gold remains at $1245/oz, in-line with the pause in equities as traders await the latest central bank updates (ECB, BoE) and of course the US jobs report on Friday. Key now for the metal after declines of 11% from mid-march, is whether we see a recovery or resumption of the downtrend to end-13 lows of $1190? A similar situation can be seen in Silver which sits at major support.
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See Live Macro calendar for full details
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