Overview: the FTSE 100 is projected to open lower in the first day of trading in 2010, tracking losses in the US stock market in the last session before the New Year holiday break.
The UK blue chip index is set to drop 30 points, or roughly 0.6% to erase the 0.3% gain it made on Thursday.
Property companies did well with Land Securities Group (LSE: LAND) and Hammerson (LSE: HMSO) emerged atop the leaderboard with gains of over 4%. Sector peers British Land (LSE: BLND) and Liberty International (LSE: LII) tacked on about 3%. Other notable risers included insurers Standard Life (LSE: SL) and Legal & General (LSE: LGEN) with gains of 3.5%, miners Fresnillo (LSE: FRES) and Antofagasta (LSE: ANTO) and interdealer broker ICAP (LSE: IAP), all of which gained nearly 2%.
Telecom group BT (LSE: BT), caterer Compass Group (LSE: CPG) and United Utilities (LSE: UU) were th only FTSE 100 constituents to drop more than 1%, shedding 1.5%.
In the US, the Dow Jones Industrial Average ended the last day of 2009 with a 1.15% decline, while the broader S&P 500 index lost 1%, as did the technology heavy NASDAQ composite.
Asian markets were mixed. In Hong Kong, the Hang Seng index was down 0.1%, China’s Shanghai composite index shed 1%, while Japan’s Nikkei 225 gained 1%, Australia’s S&P/ASX 200 index climbed 0.3% and South Korea’s KOSPI added 0.1%.
Commodities
Oil prices were higher as February Brent Crude improved to US$78.56/barrel, while US light, sweet crude reached US$80/barrel.
Precious metals also advanced. Gold got back to US$1,100/oz, while silver and platinum rose to US$16.96/oz and US$1,480/oz respectively.
Base metals followed with gains. Copper and nickel improved to US$3.35/lb and US$8.47/lb and zinc was at US$1.15/lb.
The economic data that is due out today includes the CIPS (Chartered Institute of Purchasing and Supply) manufacturing PMI (Purchasing Managers’ Index) report and UK mortgage update.