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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Royal Mail Group PLC | 478.2 | 7.5 | 1.6 | -0.4 |
| Randgold Resources Ltd | 4242 | -13.0 | -0.3 | 6.2 |
| Fresnillo PLC | 681.5 | -3.0 | -0.4 | 2.3 |
| Johnson Matthey PLC | 2669 | -22.0 | -0.8 | -5.7 |
| TUI AG | 1160 | -10.0 | -0.9 | -0.2 |
| Burberry Group PLC | 1403 | -14.0 | -1.0 | -5.8 |
| Travis Perkins PLC | 2018 | -21.0 | -1.0 | -4.8 |
| Anglo American PLC | 732.8 | -7.7 | -1.0 | -3.2 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Shire PLC | 4807 | -268.0 | -5.3 | -7.6 |
| CRH PLC | 1806 | -89.0 | -4.7 | -7.4 |
| easyJet PLC | 1624 | -78.0 | -4.6 | -5.0 |
| Carnival PLC | 3209 | -149.0 | -4.4 | -7.5 |
| Standard Chartered PLC | 780.1 | -34.7 | -4.3 | -9.7 |
| SABMiller PLC | 3023 | -133.5 | -4.2 | -8.0 |
| Old Mutual PLC | 196.5 | -8.5 | -4.2 | -9.7 |
| Hikma Pharmaceuticals PLC | 2320 | -99.0 | -4.1 | -3.3 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,187.7 | -180.2 | -2.83 | -5.8 |
| UK | 16,876.6 | -362.8 | -2.10 | 4.9 |
| FR CAC 40 | 4,631.0 | -152.6 | -3.19 | 8.4 |
| DE DAX 30 | 10,124.5 | -307.7 | -2.95 | 3.3 |
| US DJ Industrial Average 30 | 16,459.8 | -531.0 | -3.13 | -7.7 |
| US Nasdaq Composite 100 | 4,706.0 | -171.5 | -3.52 | -0.6 |
| US S&P 500 | 1,970.9 | -64.8 | -3.19 | -4.3 |
| JP Nikkei 225 | 18,578.2 | -857.7 | -4.41 | 6.5 |
| HK Hang Seng Index 48 | 21,296.2 | -1113.4 | -4.97 | -9.8 |
| AU S&P/ASX 200 | 5,023.4 | -191.2 | -3.67 | -7.2 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 40.29 | -0.75 | -1.83 | -25.0 |
| Crude Oil, Brent ($/barrel) | 44.28 | -1.09 | -2.39 | -23.1 |
| Gold ($/oz) | 1157.60 | -2.30 | -0.2 | -2.2 |
| Silver ($/oz) | 15.17 | -0.15 | -1 | -3.3 |
| GBP/USD – US$ per £ | 1.566 | 0.00 | -0.23 | 0.5 |
| EUR/USD – US$ per € | 1.145 | 0.00 | 0.51 | -5.4 |
| GBP/EUR – € per £ | 1.368 | 0.00 | -0.65 | 6.3 |
Click graph to enlarge
UK 100 called to open -200pts at 6000having made fresh lows 5930 overnight. That level serving as welcome support for bulls while the more likely scenario seems to be profit taking by bears. A distinct lack of much-hoped-for positive drivers indicates potential for more ‘trend-riding’ selling today, even if short covering dominates initially. Watch levels: Bullish 6200, Bearish 5860
The negative opening call comes with mounting evidence (Chinese PMI data showing that key sectors are continuing to contract) that China is going through a rough economic patch that has hit the global commodity and equity markets. Chinese equities fell more than 8% in the morning session, leading a sell-off across Asia that prompted fresh questions about what policymakers might do to staunch the losses. RRR cut, perhaps?
US stocks closed sharply lower on Friday, extending the sell-off that was seen in the previous session and reflecting general downward momentum on the back of overarching concerns about emerging markets and the outlook for US interest rates.
In Europe, EU officials say they are confident that snap elections in September should have no impact on the implementation of a third Greek bailout since it has been approved by both government and parliament (incl. opposition). Next round of austerity measures is due to be implemented in October and will, nonetheless, be observed closely by creditors.
In focus today will be the current intense global sell-off in equities. Will current levels be seen as buy opportunities? Will bears continue to dominate?
Crude prices have broken below the ‘bottom’ that was called in January this year and are now at multi-year lows. Brent now around $44 and WTI now down in the $30s ($39). Potential drivers including another 2 US drilling rigs and Iran (US embassy in Tehran open again, indicated warming relations and more oil onto the markets), while China demand seen to be very low, widening the supply/demand spread.
Gold, now around $1153, consolidating after hitting $1168 on Friday. A narrowing pattern indicating further gains to the upside this week as an equity market selloff increases risk-off demand for a no-frills safe haven.
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