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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Paddy Power Betfair PLC | 9185 | 170.0 | 1.9 | 1.1 |
| CRH PLC | 2580 | 43.0 | 1.7 | 30.9 |
| Randgold Resources Ltd | 7590 | 125.0 | 1.7 | 83.2 |
| BAE Systems PLC | 555.5 | 7.5 | 1.4 | 11.2 |
| Capita PLC | 1058 | 12.0 | 1.2 | -12.4 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Royal Bank of Scotland Group (The) PLC | 197.1 | -7.2 | -3.5 | -34.7 |
| Provident Financial PLC | 3028 | -72.0 | -2.3 | -10.1 |
| Intu Properties PLC | 305.6 | -6.8 | -2.2 | -3.7 |
| Berkeley Group Holdings (The) PLC | 2690 | -59.0 | -2.2 | -27.1 |
| Lloyds Banking Group PLC | 59.65 | -1.3 | -2.1 | -18.4 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,879.4 | -15.2 | -0.22 | 10.2 |
| UK | 18,026.0 | 9.6 | 0.05 | 3.4 |
| FR CAC 40 | 4,541.1 | -1.1 | -0.02 | -2.1 |
| DE DAX 30 | 10,672.2 | -11.6 | -0.11 | -0.7 |
| US DJ Industrial Average 30 | 18,492.0 | 72.8 | 0.39 | 6.1 |
| US Nasdaq Composite | 5,249.9 | 22.7 | 0.43 | 4.8 |
| US S&P 500 | 2,180.0 | 9.1 | 0.42 | 6.7 |
| JP Nikkei 225 | 17,092.2 | 54.6 | 0.32 | -10.2 |
| HK Hang Seng Index 50 | 23,743.9 | 94.3 | 0.40 | 8.3 |
| AU S&P/ASX 200 | 5,409.8 | -19.8 | -0.36 | 2.2 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 45.32 | 0.21 | 0.45 | 22.2 |
| Crude Oil, Brent ($/barrel) | 47.77 | 0.31 | 0.64 | 27.1 |
| Gold ($/oz) | 1330.45 | -0.65 | -0.05 | 25.5 |
| Silver ($/oz) | 19.59 | -0.04 | -0.22 | 41.7 |
| GBP/USD – US$ per £ | 1.33 | – | 0.1 | -9.6 |
| EUR/USD – US$ per € | 1.11 | – | -0.03 | 2.6 |
| GBP/EUR – € per £ | 1.20 | – | 0.13 | -11.9 |
Click graph to enlarge
UK 100 called to oefefe5, with an overnight recovery close to the breached 6900 level of yesterday. The Bulls will be looking for 6900 to be re-conquered to inspire hopes that recent 6940/6955 highs can be regained. The Bears, however, hope that 6900 remains resistance to send the index back to test yesterday’s 6870 lows, maybe even engineer a full retrace to 6800. Updated watch levels: Bullish 6905, Bearish 6875.
Equity indices are expected to open higher after a largely positive session in Asia and no lead from the US (Labour Day holiday) thanks to oil prices regaining some poise following yesterday’s volatility. That’s not to say there isn’t potential for more such price swings in the run up to the unofficial OPEC-led Algeria meeting this month. Hopes remain of some production freeze agreement. Are we destined to be disappointed yet again?
The overnight exception is Australia’s ASX, where the RBA kept interest rates at historic lows sending the AUD/USD higher, maintaining a September recovery trend to the detriment of exporters and a mixed performance by raw materials impacting the commodity space (Copper and Oil up, Iron ore down).
Oil prices staged a short-lived rally yesterday as Russia and Saudi Arabia seemed to signal collaboration in addressing the global supply glut, however markets soon adjusted as the significance of the statement fell short of hopes. Again. Further reports today remain pessimistic for Saudi-Russian cooperation as the upcoming unofficial OPEC meeting in Algeria looms. Prices remain in a September uptrend, albeit still technically in a mid-August downtrend.
Note Gold at $1326 remains on a sideways trajectory as price consolidation continues following last Friday’s bounce due to disappointing US jobs report data for August. Prices remains supported by interest in the global low/negative interest rate environment. This weakness is believed to be a result of market absorption of profit-taking.
In focus today will be Eurozone GDP although this is the final reading for Q2 and so is likely to just be confirmed at 0.3% QoQ and 1.6% YoY. In the afternoon, watch out for US ISM Non-Manufacturing seen remaining strong, but Economic Optimism remaining depressed.
Speakers today include the Swiss National Bank President Jordan as well as Eurogroup Head Dijesselbloem. Any comments about negative rate policy from the former or Brexit by the latter could be of interest for markets.
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