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.
FTSE up five points
The FTSE 100 is up five points as it sets to close around the 6820 level. Mining is worth its weight in gold at the moment, as it is the only sector propping up the market. The recent cooling-off in the commodities supercycle has meant that natural resource stocks are now undervalued.
Aberdeen Asset Management suffered a large outflow of funds in December as customers cashed in on the equity market rally. Ocado continued to deliver impressive revenue over Christmas, while bike specialist Halfords is gearing up for a strong 2014.
US markets in red
In the US equities are in the red after the S&P 500 closed at a record high last night, while disappointing results from Citigroup have not helped investor confidence either. The latest jobless claims figures came in slightly ahead of expectations, however, sending the message that tapering by the Federal Reserve is still justified.
US drives China lower
Aussie pulled down by unemployment
The Australian dollar dipped below the $0.88 mark as the country's unemployment rate holds still at 5.8%. The Reserve Bank of Australia slashed rates last year, and the latest jobs data does not offer a great start to 2014.