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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Fresnillo | 1170 | 58.0 | 5.2 | 65.3 |
| Randgold Resources | 6120 | 285.0 | 4.9 | 47.7 |
| BHP Billiton | 1311.5 | 54.0 | 4.3 | 72.6 |
| Anglo American | 1165.5 | 40.0 | 3.6 | 289.2 |
| Mondi | 1661 | 56.0 | 3.5 | 24.5 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Land Securities Group | 1039 | -31.0 | -2.9 | -11.7 |
| British Land | 622.5 | -18.5 | -2.9 | -20.8 |
| International Consolidated Airlines | 444.6 | -12.6 | -2.8 | -27.2 |
| Royal Bank of Scotland | 225.3 | -5.8 | -2.5 | -25.4 |
| easyJet | 1014 | -21.0 | -2.0 | -41.7 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,106.1 | 37.9 | 0.54 | 13.8 |
| UK | 18,012.8 | 103.2 | 0.58 | 3.3 |
| FR CAC 40 | 4,848.0 | -0.3 | -0.01 | 4.6 |
| DE DAX 30 | 11,475.0 | 2.8 | 0.02 | 6.8 |
| US DJ Industrial Average 30 | 19,833.8 | -111.3 | -0.56 | 13.8 |
| US Nasdaq Composite | 5,438.6 | -48.9 | -0.89 | 8.6 |
| US S&P 500 | 2,249.9 | -19.0 | -0.84 | 10.1 |
| JP Nikkei 225 | 19,145.1 | -256.6 | -1.32 | 0.6 |
| HK Hang Seng Index 50 | 21,755.6 | 0.9 | 0.00 | -0.7 |
| AU S&P/ASX 200 | 5,699.1 | 14.1 | 0.25 | 7.6 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 53.85 | -0.32 | -0.58 | 45.3 |
| Crude Oil, Brent ($/barrel) | 56.96 | 0.60 | 1.06 | 51.5 |
| Gold ($/oz) | 1149.90 | 6.70 | 0.59 | 8.4 |
| Silver ($/oz) | 16.23 | 0.17 | 1.04 | 17.4 |
| GBP/USD – US$ per £ | 1.2256 | -0.0232 | 0.3 | -16.8 |
| EUR/USD – US$ per € | 1.0458 | 0.0007 | 0.42 | -3.7 |
| GBP/EUR – € per £ | 1.1719 | -0.0231 | -0.12 | -13.6 |
Click graph to enlarge
UK 100 Index called to open -25pts at 7080 (ex-div -2.1pts), have sold back from yesterday’s fresh record closing high (7106), still holding its rising channel since last Monday. Bulls need to see a break above overnight highs of 7085 while Bears will want to see 7065 to confirm a break of yesterday’s lows and the aforementioned rising channel. Watch levels: Bullish 7090, Bearish 7065.
Calls for a negative open come after the UK Index sold back from its new closing high after the European close and all three major US bourses closed lower, only the second session of triple-digit losses for the Dow Jones since Trump was elected, taking it away from its recent flirtation with 20,000.
A mixed session in Asia is also hindering sentiment with losses on Japan’s Nikkei (Toshiba shares down sharply down again) outweighing minimal gains for Australia’s ASX (November rally extends to 16-month highs) as metals prices benefit from a weaker US Dollar.
Having boosted markets yesterday after rallying to 17-month highs, Oil’s overnight retreat on higher US Crude Inventories (API) is one of the drivers for weakness on this last full trading session for 2016. Watch the commodity space winners form yesterday.Watch the commodity space winners form yesterday.
US markets stumbled yesterday as investor optimism cooled and hopes faded of the Dow Jones hitting 20,000 before year-end. However volumes remain light and this doesn’t mean the 2016 election fuelled rally is done with. It may just be taking a well needed breather.
Gold continues to bounce, back testing $1150 helped by a weaker US Dollar making the dollar-denominated safe haven commodity cheaper and an equity sell-off fuelling fresh demand for the port in a storm.
In focus today, again during what is certain to be a quiet intra-holiday session, and assuming we hear little on Italy’s troubled banking sector bailout until the new year (funds approved by government) will be Eurozone M3 Money Supply at 9am. Any acceleration in growth of this broad measurement can be a precursor for improved inflation which is important for the region’s recovery and would imply the European Central Bank's (ECB’s) extraordinary policy measures (negative rates, QE) are helping.
In the afternoon, following solid US stateside data on Monday but a housing sector disappointment yesterday will be the Advance US Trade Balance seen unchanged in November, along with continued improvement in US Jobless Claims and a potential provisional rebound for Wholesale & Retail Inventories in November.
To close the day, US Crude Oil Inventories will offer more clues as to US output and consumption levels as we head towards an OPEC-led production cut in January designed to buoy oil prices all the while the US vies for self-sufficiency and shale/frackers return to their rigs now that prices have rebounded and stabilised at what are now much more attractive and sustainable levels. Note API inventories showed a surprise build last night
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