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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Anglo American PLC | 1100.5 | 54.5 | 5.2 | -8.3 |
| CRH PLC | 1840 | 89.0 | 5.1 | 19.2 |
| Glencore PLC | 299.3 | 13.6 | 4.7 | 0.2 |
| Fresnillo PLC | 706.5 | 27.5 | 4.1 | -7.8 |
| BHP Billiton PLC | 1539 | 53.5 | 3.6 | 10.8 |
| Weir Group PLC | 1841 | 62.0 | 3.5 | -0.5 |
| BG Group PLC | 884 | 24.5 | 2.9 | 2.2 |
| Antofagasta PLC | 714.5 | 19.5 | 2.8 | -5.1 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Persimmon PLC | 1689 | -89.0 | -5.0 | 7.0 |
| Hikma Pharmaceuticals PLC | 2185 | -77.0 | -3.4 | 10.4 |
| Imperial Tobacco Group PLC | 3105 | -50.0 | -1.6 | 9.5 |
| Kingfisher PLC | 370 | -4.4 | -1.2 | 8.7 |
| Dixons Carphone PLC | 427.2 | -5.0 | -1.2 | -7.6 |
| Diageo PLC | 1924 | -16.5 | -0.9 | 4.1 |
| Associated British Foods PLC | 3038 | -23.0 | -0.8 | -3.7 |
| Travis Perkins PLC | 1984 | -12.0 | -0.6 | 6.8 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,022.5 | 60.2 | 0.86 | 7.0 |
| UK | 17,537.6 | 99.5 | 0.57 | 9.0 |
| FR CAC 40 | 5,087.5 | 50.3 | 1.00 | 19.1 |
| DE DAX 30 | 12,039.4 | 140.0 | 1.18 | 22.8 |
| US DJ Industrial Average 30 | 18,127.7 | 168.7 | 0.94 | 1.7 |
| US Nasdaq Composite 100 | 5,026.4 | 34.0 | 0.68 | 6.1 |
| US S&P 500 | 2,108.1 | 18.8 | 0.90 | 2.4 |
| JP Nikkei 225 | 19,754.4 | 194.1 | 0.99 | 13.2 |
| HK Hang Seng Index 48 | 24,466.0 | 90.8 | 0.37 | 3.6 |
| AU S&P/ASX 200 | 5,956.1 | -19.4 | -0.32 | 10.1 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 45.89 | -0.57 | -1.22 | -13.5 |
| Crude Oil, Brent ($/barrel) | 54.64 | -0.61 | -1.1 | -4.0 |
| Gold ($/oz) | 1183.25 | 1.55 | 0.13 | -0.1 |
| Silver ($/oz) | 16.70 | -0.03 | -0.18 | 6.6 |
| Platinum ($/oz) | 1140.80 | 3.30 | 0.29 | -5.9 |
| GBP/USD – US$ per £ | 1.493 | – | -0.16 | -4.0 |
| EUR/USD – US$ per € | 1.082 | – | 0.03 | -10.6 |
| GBP/EUR – € per £ | 1.380 | – | -0.19 | 7.4 |
Click graph to enlarge
See Live Macro Calendar for full data line-up, incl. consensus expectations
UK 100 called to open +10pts at 7030, making further bullish progress since Friday’s break above 15yr highs and the key 7000 mark, finally allowing the UK index to join global equity index peers in trading all-time highs Better late than never. Strength in Asia has seen UK 100 futures touch highs of 7058 overnight, taking the run of gains to an impressive 350pts in the last 11 sessions. Watch levels at: Bullish 7065, Bearish 6980.
The positive opening call comes thanks to the record UK close on Friday as well as US socks closing higher and Asia making decent start to the new week (Asian stocks extending 6-month highs, China fresh multi-year highs) as the weaker USD from more dovish Fed rhetoric reduces fears of imminent rate rises reversing globally accommodative monetary policy and feeds through to higher commodity prices. Note Greece back on the agenda this week, bringing geopolitics back to the fore, with
European equities climbed into Friday’s close as Greek PM Tsipras assured that bank deposits are safe and there is no immediate liquidity issue. German president Merkel said further Greek payments will depend on assessments by EU institutions and is meeting with the Greek leader today to continue talks as relations remain somewhat sour.
US stocks closed higher on Friday as the US dollar’s strength waned slightly. Fed dove Evans also helped equities by saying he thought rate lift-off should be delayed until next year, bringing some more balance to the rate debate.
Asian bourses are in positive territory this morning following Wall St’s cues as commodities rose and the dollar weakened. Japanese and Chinese markets made fresh multi-year highs overnight and remain in the green this morning. BoJ governor Kuroda has said that inflation is slowing on low oil prices but the long term rising trend for consumer prices remains intact, keeping a gradual economic recovery on the cards. Reports in China indicate a slowdown represented by lower than expected GDP growth for Q1 2015, below the 7% forecast.
In focus today in the US we have the Chicago Fed National Activity Index, with expectations that the economic recovery is growing at a healthy rate, above long-run potential. Following that will be Existing Home Sales data and Eurozone consumer confidence looking for a slight improvement.
US Light crude ($45.8) and Brent ($54.5) both back from Friday’s highs as the USD finds support around 98.0 and Saudi Arabia’s OPEC governor said he believes it will be difficult for oil to get back to $100-1200/barrel again and that his country has no political agenda on oil policy and will not unilaterally slash production to defend prices and bear the global burden. Note another drop in the US baker Hughes Rig Count (lowest since Oct 2009) and market but participants keeping an eye on Iranian nuclear talks in Switzerland.
Gold ($1184) is holding firm above $1800, consolidating gains after a sharp rally on Friday from $1700 supported by the weaker USD, Chinese demand from bargain hunters and rapid short covering after the steep losses since end January. Note the yellow metal finally breaking out of its falling channel from end-Jan which is bullish. Lots of geopolitical events to watch this week notably in Europe with Greece still trying to secure extensions to its bailout to avoid an imminent cash-crunch.
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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.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research