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| UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Hikma Pharmaceuticals PLC | 2395 | 175.0 | 7.9 | 4.1 |
| Paddy Power Betfair PLC | 9150 | 320.0 | 3.6 | 0.8 |
| Hargreaves Lansdown PLC | 1322 | 41.0 | 3.2 | -12.2 |
| BHP Billiton PLC | 1014 | 31.1 | 3.2 | 33.4 |
| Standard Life PLC | 314.7 | 9.4 | 3.1 | -19.3 |
| UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Royal Bank of Scotland Group (The) PLC | 178.2 | -13.8 | -7.2 | -41.0 |
| Fresnillo PLC | 1884 | -70.0 | -3.6 | 166.1 |
| Randgold Resources Ltd | 8375 | -260.0 | -3.0 | 102.2 |
| Pearson PLC | 882.5 | -11.0 | -1.2 | 19.9 |
| National Grid PLC | 1069 | -12.5 | -1.2 | 14.0 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 6,793.5 | 53.3 | 0.79 | 8.8 |
| UK | 17,465.3 | 221.0 | 1.28 | 0.2 |
| FR CAC 40 | 4,410.6 | 64.9 | 1.49 | -4.9 |
| DE DAX 30 | 10,367.2 | 139.3 | 1.36 | -3.5 |
| US DJ Industrial Average 30 | 18,543.5 | 191.5 | 1.04 | 6.4 |
| US Nasdaq Composite | 5,221.1 | 54.9 | 1.06 | 4.3 |
| US S&P 500 | 2,182.9 | 18.6 | 0.86 | 6.8 |
| JP Nikkei 225 | 16,622.2 | 367.7 | 2.26 | -12.7 |
| HK Hang Seng Index 50 | 22,422.4 | 276.3 | 1.25 | 2.3 |
| AU S&P/ASX 200 | 5,536.9 | 39.5 | 0.72 | 4.6 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 41.95 | 0.73 | 1.76 | 13.2 |
| Crude Oil, Brent ($/barrel) | 44.41 | 0.80 | 1.83 | 18.1 |
| Gold ($/oz) | 1342.95 | 1.55 | 0.12 | 26.6 |
| Silver ($/oz) | 19.73 | 0.01 | 0.03 | 42.7 |
| GBP/USD – US$ per £ | 1.31 | – | 0.08 | -11.2 |
| EUR/USD – US$ per € | 1.11 | – | 0.12 | 2.2 |
| GBP/EUR – € per £ | 1.18 | – | -0.04 | -13.1 |
Click graph to enlarge
UK 100 Index called to open flat at 6794 after breaking out above the 27 July high 6780, that level now acting as support for further gains. Bears, however, will note a potential bearish head & shoulders top in formation after the index’s new highs were not confirmed by the RSI and MACD. Updated watch levels: Bullish 6815, Bearish 6775.
A flat opening call comes after Chinese trade data disappointed, although a negative start was likely averted with market watchers noting that data lags reality, so this shouldn’t worry too much. Asian markets have in fact outperformed after Friday’s impressive US Jobs report. This served to strengthen the USD on heightened expectations of a 2016 Fed rate hike, which in turn weakened Asia Pacific currencies to buoy equity indices there - the Nikkei putting on 2% as a result and the Aussie ASX also remaining just above the waterline, despite its heavyweight mining stocks suffering from USD strength.
US equities made fresh record highs on Friday after the Jobs Report showed strength in the US economy, that after a perceived topping out of the recent trend of good macro data. Consensus is now for a December rate hike, if anything, while data prints from here on should be watched closely by investors from here on, now that Brexit and the Bank of England have had their moments in the spotlight.
Crude oil prices are looking a little toppy after the August uptrend found resistance in an increased rig count, which went up for the 6th week in a row, while talk about fresh OPEC output cut talks was played down. Brent is currently testing resistance at $44.50 while WTI is at $42, both with diverging RSI.
Gold has sold right back to its end-July levels around $1335 as a risk on attitude and stronger USD weigh on precious metals prices. A break below $1331 could see further declines to the July lows of $1310 while a breakout above the 20-day moving average is required to kick start any recovery rally.
In focus on a quiet day data-wise, we've got Industrial Production data from Germany and the Eurozone, with a return to growth expected in boith cases. Eurozone Investor Confidence is seen rising strongly in August.
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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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