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 6820.
FX and commodities: GBP/USD is up 30 pips at $1.6896, EUR/USD is up eight pips at $1.3883 and USD/JPY is down ten pips at ¥102.05. Brent crude is down two cents at $107.67 and gold is trading at $1311, up $1.50.
Stocks: Following a long bank holiday weekend, Aberdeen Asset Management posted its half-year figures and its pretax profits dropped by 3%. Barclays has seen its first-quarter figures fall, with profits down 5% year-on-year. The first quarter for Glencore Xstrata has proven to be fruitful, with copper production up by 24% as developments in both African and Australian production have borne fruit.
The day ahead: The EU purchasing managers index figures are out for Spain and Italy in early trading, along with the services PMI for the UK. Later in the morning we will also see the latest monthly retail sales figures for the eurozone. The US trade balance figures will be released this afternoon, and tonight Federal Open Market Committee speaker Jeremy Stein will be talking.
All figures correct at 8.15am. All times London time.