The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.
This morning in London: The FTSE 100 is currently up four points at 6663.
FX and commodities: GBP/USD is up 21 pips at $1.6648, EUR/USD is up three pips at $1.3769 and USD/JPY is up six pips at ¥104.66. Brent crude is down nine cents at $104.65 and gold is trading at $1290, down $1.
Stocks: Royal Bank of Scotland is in the press again as it continues to trim its workforce with a further 44 branches expected to close. In contrast, Vodafone is looking to open a further 150 shops and add another 1400 staff to its numbers. Mike Ashley’s hopes of a share bonus scheme appear to be on the backburner as he has failed to get enough Sports Direct voter support.
The day ahead: First to kick off this economic data-heavy day is the UK service purchasing managers index figures, then EU monthly retail sales figures, followed by the EU interest rate decision. The European Central Bank press conference is at 1.30pm, followed by EU trade balances figures and unemployment claims. Later in the afternoon we will also get ISM non-manufacturing PMI.
All figures correct at 8.15am. All times London time.