This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
This morning in London: The FTSE 100 is currently flat at 6532.
FX and commodities: GBP/USD is down 11 pips at $1.6377, EUR/USD is down eight pips at $1.3580 and USD/JPY is up 22 pips at ¥102.75. Brent crude is up three cents at $112.68 and gold is trading at $1214, down $8.52.
Stocks: Tesco’s Q3 figures are off, but this has been well signposted for the last couple of days. A raft of equities go ex-dividend today, including Associated British Foods, Aberdeen Asset Management, Land Securities, the London Stock Exchange, National Grid, SAB Miller and Severn Trent. Engineering firm Amec has won a $124 million contract to work on the second phase of a project in the UAE.
The day ahead: A full day of economic data is ahead, with service PMI figures due for Spain, Italy, EU and the UK. We also have Canadian and US trade balance figures, US new home sales and, later on, the Fed Biege Book.
All figures correct at 8.30am. All times London time.