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.
The start of both a new week and new month has seen equities get off to a sluggish start. The absence of the US quantitative easing process has been a short-lived problem with the Japanese quickly offering an alternative option for markets. Traders will have an abundance of both economic and corporate data to digest as both US and UK equities continue to report over the week.
Today’s manufacturing PMI data covering Asia, Europe and the US will show how closely the economic picture relates to the image being portrayed by the major equity indices around the world.
This morning’s HSBC figures keep the spotlight on the dual issues facing UK bank's radars. Further funds are being allocated to historical forex operational transgressions, that are likely to see FCA penalties being imposed along with the more stringent UK bank stress tests that will need to be cleared before the end of the year.
Ryanair’s transformation continues at pace, with the 'friendlier' low-cost airline posting half-year profits up 32%, confirming that it does pay to be nice. Although 2014 has seen an increased number of quoted companies come to the market, the ratio of those companies being able to post healthy numbers and reflect a buoyant share price has been somewhat smaller.
Thankfully, Just Eat has bucked both of those trends, doubling its third-quarter sales while flirting with new highs for its share price.
Mike Ashley’s grip on struggling Scottish giants, Rangers FC, now looks all the more secure with the announcement that ex-Newcastle man Derek Llambias has been added to the board.
AIG will be posting its latest quarterly figures today which should, in the short-term, see the market's focus shift to the day-to-day running of the company, rather than the ongoing US court cases surrounding the US government’s bailout of the global insurance firm.
Ahead of the open we expect the Dow Jones to start 24 points lower at 17,366.