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 up 11 points at 6617.
FX and commodities: GBP/USD is up 11 pips at $1.6539, EUR/USD is down 13 pips at $1.3812 and USD/JPY is up two pips at ¥102.28. Brent crude is up 15 cents at $107.09 and gold is trading at $1315, up $4.65.
Stocks: UK Financial Investments, a part of the UK Treasury, has sold a 7.8% stake in Lloyds and has now brought the UK’s stake in the bank down to 24.9% from 39%. The first of the UK energy supply companies to come out with strategic plans is Scottish and Southern Energy. The company is planning to split its retail and wholesale divisions, and has also promised to freeze its household energy tariffs until at least January 2016. TUI Travel has stated it expects to see full-year figures falling within its anticipated range of 7% to 10% for full-year growth. Carpetright has posted its third profits warning in the last six months, as it has failed to see an upturn in demand regardless of the buoyant housing markets.
The day ahead: Italian retail sales figures are expected early, in what will be a quiet morning, before a raft of US data is released in the afternoon. US core durable goods, flash services purchasing managers index, crude oil inventories and then, just before the close, results of the latest bank stress tests.
All figures correct at 8.15am. All times London time.