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 up 13 points at 6767.
FX and commodities: GBP/USD is up two pips at $1.6983, EUR/USD is down 12 pips at $1.3560 and USD/JPY is up nine pips at ¥101.92. Brent crude is down 15 cents at $112.86 and gold is trading at $1264, down $7.25.
Stocks: The hotel and coffee operator Whitbread has seen solid figures for the start of the year driven by coffee sales and an improvement in Premier Inn results. Ashtead has seen a large jump in its pretax sales for the year, going from £214mn up to £357mn. Rumours are circulating that RSA will continue to asset strip as they are looking to sell off their Asian operations with an expected $500mn price tag. Reflecting the growing M&A activity we have seen in the pharmaceutical stocks, Shire has hired Citi bank to advise them on any future bids.
The day ahead: Both the UK, in the morning, and the US, in the afternoon, will be releasing inflation figures today. Mid-morning we will also see the release of German ZEW economic sentiment figures.
All figures correct at 8.10am. All times London time.