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 down 12.7 points at 6555.
FX and commodities: GBP/USD is down 41 pips at $1.6598, EUR/USD is down 13.5 pips at $1.3911 and USD/JPY is down 31.5 pips at ¥101.59. Brent crude is up 47 cents at $106.71 and gold is trading at $1359.1, down $7.4.
Stocks: Antofagasta is up 3.3% after reporting its preliminary figures. The copper miner saw an 11.4% drop in revenue, with net earnings down 36.4% to $659.6 million. Supermarket Sainsbury's is off 1.7% after its quarterly figures dropped by 1.5%, declining for the first time in nine years. On AIM, online fashion and beauty retailer ASOS is tumbling, dropping 19% after its 26% rise in sales for the first two months of 2014 failed to meet the expected 35% rise.
The day ahead: German ZEW sentiment is first up on the calendar today, along with the eurozone’s January trade balance figures. At 12.30pm we have US consumer price index, housing starts and building permits. The latest Federal Reserve meeting gets underway today, with the decision and press conference to take place tomorrow evening.
All figures correct at 8.15am. All times London time.