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.
In London, equities have followed Wall Street lower after Dennis Lockhart stated his support for additional tapering. Added to that we have the mix of soft payrolls figures and an underwhwelming start to the US reporting season.
Barratt Developments’ figures weren’t good enough to win over investors. The homebuilder is off over 1% depite reporting a 19% increase in home completions. Michael Page is in the red after the recruiter eked out a small increase in fourth-quarter gross profits. Its UK business is showing signs of recovery.
ASOS’s stellar Christmas season gave traders the perfect reason to lock in profits. The online retailer revealed a 37% increase in revenue.
The cost of living in the UK dipped as the inflation rate fell to 2% in December, which is music to Mark Carney’s ears but may not be welcomed by the high street.
In the US, we are expecting the Dow to open 20 points higher at 16,280 as dealers gear up for JPMorgan's fourth-quarter earnings this lunchtime.