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. See full non-independent research disclaimer and quarterly summary.
This morning in London: The FTSE 100 is currently down 25 points at 6712.
FX and commodities: GBP/USD is up 2 pips at $1.7101, EUR/USD is up 2 pips at $1.3527 and USD/JPY is up 25 pips at ¥101.45. Brent crude is up 35 cents at $108.32 and gold is trading at $1313, down $5.75.
Stocks: The airline sector is likely to struggle today as the implications of yesterday’s events unwind. The deal between Shire and US AbbVie looks ever closer to completion. UK banks Lloyds and RBS, face further investigation that might lead to recommendations for both banks to be broken up. GlaxoSmithKline looks set for more bad publicity as Chinese authorities unearth more details of the company’s distribution business.
The day ahead: UK eurozone current account figures are out this morning along with German Bupa president Jens Weidmann talking around midday. This afternoon will see preliminary University of Michigan consumer sentiment figures and the monthly Conference Board Leading Index.
All figures correct at 9am. All times London time.