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| Yesterday’s UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Micro Focus International PLC | 1128.5 | 34.5 | 3.2 | -55.3 |
| United Utilities Group PLC | 724.8 | 16.4 | 2.3 | -12.6 |
| WPP Group PLC | 1162.5 | 24 | 2.1 | -13.3 |
| DCC PLC | 6645 | 125 | 1.9 | -11.0 |
| Johnson Matthey PLC | 3209 | 58 | 1.8 | 4.4 |
| Yesterday’s UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Rio Tinto PLC | 3560 | -85.5 | -2.4 | -9.7 |
| Glencore PLC | 351.15 | -7.6 | -2.1 | -10.0 |
| Marks & Spencer Group PLC | 269 | -5 | -1.8 | -14.6 |
| Burberry Group PLC | 1676.5 | -28 | -1.6 | -6.5 |
| Antofagasta PLC | 915.6 | -15.2 | -1.6 | -8.9 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,183.6 | -15.9 | -0.22 | -6.6 |
| UK | 19,530.2 | -46.0 | -0.23 | -5.8 |
| FR CAC 40 | 5,258.2 | -18.4 | -0.35 | -1.0 |
| DE DAX 30 | 12,241.3 | -63.9 | -0.52 | -5.2 |
| US DJ Industrial Average 30 | 23,932.8 | -572.5 | -2.34 | -3.2 |
| US Nasdaq Composite | 6,915.1 | -161.4 | -2.28 | 0.2 |
| US S&P 500 | 2,604.5 | -58.4 | -2.19 | -2.6 |
| JP Nikkei 225 | 21,678.3 | 110.7 | 0.51 | -4.8 |
| HK Hang Seng Index 50 | 30,221.5 | 376.5 | 1.26 | 1.0 |
| AU S&P/ASX 200 | 5,808.7 | 20.0 | 0.34 | -4.2 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 62.31 | -0.01 | -0.01 | 3.7 |
| Crude Oil, Brent ($/barrel) | 67.40 | 0.01 | 0.01 | 1.2 |
| Gold ($/oz) | 1332.02 | -0.98 | -0.07 | 2.2 |
| Silver ($/oz) | 16.37 | 0.02 | 0.13 | -3.0 |
| GBP/USD – US$ per £ | 1.4098 | – | 0.05 | 4.4 |
| EUR/USD – US$ per € | 1.2286 | – | 0.02 | 2.4 |
| GBP/EUR – € per £ | 1.1475 | – | 0.03 | 2.0 |
Click graph to enlarge
UK 100 Index called to open +20pts at 7205, holding near last week’s peak to maintain the rebound from late March’s trough. Bulls need a break above Thursday's 7220 highs for the chance of a bullish flag above longer-term resistance circa 7250. Bears require a breach of intersecting rising support at 7185 for a retreat to late Friday’s 7120 base. Watch levels: Bullish 7220, Bearish 7185
Calls for opening gains stem from a positive start to the week in Asia and a rebound by US futures. This as the US-China trade war fears, and poor US jobs report, which led to Friday’s sharp Wall St drop eased over the weekend. Sentiment has been further boosted by more talk of North Korean willingness to discuss de-nuclearization, as well as hopes of a positive US earnings season on the horizon (JP Morgan, Citigroup and Wells report Friday) to give bulls a fillip.
Oil prices remain off Friday’s lows but with work to do to regain last week’s best, and still in a downtrend from March highs, hindered by a strong USD and rising US production, yet supported by both global trade concerns and Syrian events. Gold also off lows, helped by disappointing US jobs report and global trade concerns, yet equally hindered by strong USD.
In corporate news this morning, Rolls-Royce to sell L’Orange to Woodward Inc for €700m subject to German antitrust approval. Sky News reports that Royal Mail is preparing for CEO Moya Greene's departure in 2018. Old Mutual says US company Travelers Companies has withdrawn a claim for remedies over previously disposed assets. Deutsche Bank has replaced CEO John Cryan. Centamin reports Q1 gold production -19% quarter on quarter, +14% year on year. Maintains full year guidance.
In focus today will be UK housebuilders with Halifax House Prices (8.30am) for March forecast to show a pick up in annual growth to back above the 2% mark, even if the monthly pace slows. Thereafter, it’s slim pickings with just Eurozone Sentix Investor Confidence (9.30am) - expected to have slipped further from Nov/Dec/Jan/Feb’s decade highs - and then latest US Consumer Inflation Expectations (4pm).
Speakers today include are limited to the ECB with Constancio (2pm); presenting the ECB Annual Report at the ECON Committee in Brussels and Chief economist Praet (5.45pm) participating in a meeting of the European Finance Forum).
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