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.
Mining sector provides support
Royal Dutch Shell is still suffering from the profit-warning it issued this morning. The oil titan is managing expectations ahead of full-year results at the end of the month.
US markets in black
In the US the Dow Jones is up 20 points at 16,438, as mixed economic announcements keep the US equity market in positive territory. The decline in building permits was offset by a jump in housing starts, but the drop in Michigan consumer confidence took the market by surprise.
The world’s largest chipmaker Intel has recovered some it of its early losses after stating after the close last night that it does not foresee any revenue growth in 2014.
Copper is broadly unchanged as traders are squaring up their positions ahead of the Chinese GDP figures over the weekend.
Pound strong against doller
The pound has had a sterling performance versus the US dollar today, on the back of the retail sales report.