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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| International Consolidated Airlines Group SA | 531.5 | 13.5 | 2.6 | -10.8 |
| Weir Group PLC | 1358 | 26.0 | 2.0 | -27.8 |
| Royal Bank of Scotland Group (The) PLC | 324.1 | 2.9 | 0.9 | -8.4 |
| TUI AG | 1144 | 5.0 | 0.4 | -7.5 |
| Capita PLC | 1211 | 5.0 | 0.4 | 4.5 |
| easyJet PLC | 1677 | 2.0 | 0.1 | -10.4 |
| Tesco PLC | 186.2 | 0.2 | 0.1 | -23.8 |
| CRH PLC | 1800 | -5.0 | -0.3 | -0.2 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Fresnillo PLC | 594.5 | -45.0 | -7.0 | -17.7 |
| Standard Chartered PLC | 707.3 | -37.7 | -5.1 | -34.7 |
| Randgold Resources Ltd | 3817 | -184.0 | -4.6 | -22.7 |
| Johnson Matthey PLC | 2573 | -108.0 | -4.0 | -26.9 |
| BG Group PLC | 923.9 | -36.7 | -3.8 | -21.2 |
| WPP Group PLC | 1311 | -51.0 | -3.7 | -17.7 |
| Glencore PLC | 138.9 | -5.4 | -3.7 | -52.7 |
| Burberry Group PLC | 1347 | -45.0 | -3.2 | -24.5 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 5,979.2 | -102.1 | -1.68 | -8.9 |
| UK | 16,601.3 | -120.3 | -0.72 | 3.2 |
| FR CAC 40 | 4,501.1 | -63.8 | -1.40 | 5.3 |
| DE DAX 30 | 9,997.4 | -130.7 | -1.29 | 2.0 |
| US DJ Industrial Average 30 | 16,285.5 | 619.0 | 3.95 | -8.6 |
| US Nasdaq Composite 100 | 4,697.5 | 191.1 | 4.24 | -0.8 |
| US S&P 500 | 1,940.5 | 72.9 | 3.90 | -5.8 |
| JP Nikkei 225 | 18,631.1 | 254.3 | 1.38 | 6.8 |
| HK Hang Seng Index 48 | 21,573.4 | 493.0 | 2.34 | -8.6 |
| AU S&P/ASX 200 | 5,244.5 | 71.7 | 1.39 | -3.1 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, US Light Sweet ($/barrel) | 39.47 | 0.20 | 0.5 | -26.5 |
| Crude Oil, Brent ($/barrel) | 44.19 | 0.74 | 1.7 | -23.2 |
| Gold ($/oz) | 1126.95 | 3.35 | 0.3 | -4.8 |
| Silver ($/oz) | 14.16 | 0.07 | 0.5 | -9.8 |
| GBP/USD – US$ per £ | 1.550 | 0.00 | 0.14 | -0.5 |
| EUR/USD – US$ per € | 1.135 | 0.00 | 0.08 | -6.2 |
| GBP/EUR – € per £ | 1.366 | 0.00 | 0.06 | 6.1 |
Click graph to enlarge
UK 100 Index called to open +100pts at 6110, reclaiming 6000 support with 3 days of rising lows looking to test and overcome a hitherto resistive 6100. Note however the daily RSI plateauing just above oversold territory indicating a dearth of momentum this morning. Optimists betting on a bullish ascending triangle to convert to a rising channel while Bears looking to jump on waning momentum and ride continued macro-worries.
Watch levels: Bullish 6220, Bearish 5990.
The positive opening call comes as Asian stocks tracked the biggest gains in U.S. equity markets in four years following a two-week selloff that drove stock valuations to their lowest since 2012. Chinese companies listed in Hong Kong led gains, while the Shanghai Composite remained true to its nature and pretty much the opposite to its Asia-Pacific peers, experiencing extreme volatility this morning (-ve to +ve in quick succession). Careful now.
As mentioned, US stocks bucked a six-day losing trend on Wednesday, posting the biggest percentage gains in almost 4 years. The usual ‘signs of strength in the US economy’ and a Federal Reserve that’s loathe to push the big red rate hike button easing concerns about potentially forthcoming market shocks. As if we need any of those right now.
In Greek Bailout news, Alexis Tsipras said that the time has come (again) for the Greek people to decide on his record, also ruling out a return to the Drachma – which was never a choice for Greece apparently. What was a choice for Greece then? Has this all just been a waste of time? #confused.
In focus today we have US jobs and GDP data looking for improvement across the board while pending home sales this afternoon looking to go positive on the month while slightly contracting on the year.
Crude inventories in the US tanked by 5.45m barrels in the week ending 21 Aug, the biggest one-week decline since June according to the latest round of data from the EIA. With expectations of a rise of 2m, that’s pushed up the oil price this morning on reduced supply – WTI futures went up 2% to $39 (still worryingly sub-$40) while those for Brent Crude posted an unsurprisingly similar advance to $44.
Gold ($1127) off its highs as capital makes its way back into equity markets, but finding support in Fed chief Dudley’s dovish comments of yesterday, keeping the dollar from surging upwards too much.
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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.
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