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 two points at 6817.
FX and commodities: GBP/USD is down 23 pips at $1.6345, EUR/USD is up three pips at $1.3607 and USD/JPY is up 18 pips at ¥104.74. Brent crude is down 31 cents at $105.90 and gold is trading at $1238, down $2.30.
Stocks: Dixons has posted figures reflecting strong sales over the Christmas period. Rio Tinto has gambled on an increase in Chinese growth by upping its annual iron-ore production. Home Retail Group has been able to post good sales figures, largely due to the impressive form of Argos. The company now makes half of its total sales online, and 20% of these are on mobile devices – a demographic that will be the envy of all its competitors.
The day ahead: The EU monthly bulletin is released this morning, along with the yearly CPI rate. This afternoon US unemployment claims will be posted, and later Federal Reserve chairman Ben Bernanke will be speaking in Washington.
All figures correct at 8.15am. All times London time.