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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Paddy Power Betfair | 9300 | 55.0 | 0.6 | 2.4 |
| Capita | 1034 | 6.0 | 0.6 | -14.4 |
| CRH | 1948 | 10.0 | 0.5 | -1.2 |
| London Stock Exchange | 2832 | 12.0 | 0.4 | 3.2 |
| Kingfisher | 372.7 | 1.5 | 0.4 | 13.1 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Next | 5655 | -1005.0 | -15.1 | -22.4 |
| Standard Chartered | 440.55 | -37.1 | -7.8 | -21.9 |
| Associated British Foods | 3265 | -193.0 | -5.6 | -2.3 |
| Prudential | 1275.5 | -70.5 | -5.2 | -16.7 |
| Marks & Spencer | 392.5 | -20.3 | -4.9 | -13.2 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,106.5 | -92.6 | -1.49 | -2.2 |
| UK | 16,674.3 | -190.3 | -1.13 | -4.3 |
| FR CAC 40 | 4,329.7 | -94.3 | -2.13 | -6.6 |
| DE DAX 30 | 9,851.4 | -171.6 | -1.71 | -8.3 |
| US DJ Industrial Average 30 | 17,535.5 | 19.8 | 0.11 | 0.6 |
| US Nasdaq Composite | 4,766.8 | -6.7 | -0.14 | -4.8 |
| US S&P 500 | 2,037.1 | 1.1 | 0.05 | -0.3 |
| JP Nikkei 225 | 17,103.5 | -30.8 | -0.18 | -10.1 |
| HK Hang Seng Index 48 | 20,297.2 | -48.4 | -0.24 | -7.4 |
| AU S&P/ASX 200 | 5,004.5 | -79.7 | -1.57 | -5.5 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 39.11 | -0.23 | -0.58 | 5.5 |
| Crude Oil, Brent ($/barrel) | 39.95 | -0.23 | -0.57 | 6.3 |
| Gold ($/oz) | 1219.45 | 2.75 | 0.23 | 15.0 |
| Silver ($/oz) | 15.21 | 0.01 | 0.08 | 10.0 |
| GBP/USD – US$ per £ | 1.42 | – | -0.21 | -3.4 |
| EUR/USD – US$ per € | 1.12 | – | -0.14 | 3.0 |
| GBP/EUR – € per £ | 1.27 | – | -0.06 | -6.2 |
Click graph to enlarge
UK 100 Index called to re-open +40pts at 6145, after the long Easter bank holiday weekend, off its lows of Thursday but still hindered by long-term falling resistance around 6200. In fact March’s 6100-6200 sideways channel remains intact, requiring a catalyst for a either breakout or breakdown to extend the rally or begin the retrace. Within this, where we go from the apex of a 3-day narrowing pattern of rising lows and falling highs could also be significant. Watch levels: Bullish 6165, Bearish 6115.
The positive opening call comes despite a negative Asian session and a muted US close on mixed US data as European bourses are set to re-open after the long Easter weekend. Reports of an Egyptian airliner being hijacked have had a limited impact on sentiment but could make for a jittery start as markets seek out a catalyst ahead of Friday’s US jobs report as earnings season looms.
Asian equities in the red, hindered by regional currency strength resulting from a weaker USD as US data failed to inspire with the Fed’s preferred inflation gauge failed to continue ticking up as markets await a speech from Fed Chair Janet Yellen at the European market close today for extra clues on monetary policy direction.
Japan's Nikkei held back despite a weaker Yen by disappointing reads for unemployment and retail trade. Australia's ASX on a downer with banks leading the way despite the USD offering some support to a hitherto weak commodities space.
US markets were flat yesterday as traders eased themselves back into action following the Easter weekend. Note energy and commodities underperforming on a stronger USD ahead of today’s speech by FOMC chair Janet Yellen (billed for 16:30 GMT) - hotly anticipated after recent surprise moves into hawkish territory by a number of Fed officials.
In focus today we have US House Price data which can be considered a proxy for both consumer and bank sentiment with continued gains anticipated. Thereafter we have US Consumer confidence expected higher in March before the Fed's Yellen and Kaplan give speeches after the European close which could give clues about US monetary policy direction and pace
Brent and US Light Crude have broken below Feb rising support, yet may find additional buoyancy at trend lines drawn from the late Jan lows. Traders are likely pricing in another big US inventory build ahead of the API stockpile report that’s due out later today. That, coupled with USD strength and a lack of fundamental support for oil (global oversupply remains, no sure fire signs of coordinated output freezes…), keeps downward pressure up for now!
Gold has dropped out of its uptrend of the last day or so with a strengthening USD weighing, yet maintains safe haven support around $1216 which is encouraging for the bulls. Reports of an Egyptian passenger plane having been hijacked may also help the yellow metal in the short term, especially given other notable events of the last 7 days, but resistance lies only a few dollars higher at $1222.
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