Yesterday, notes Mr Secker, , the FTSE 100 fell 1.5% by the close yesterday, dropping 68.96 points to close at 4,645.01. Mining, oil and banking stocks lead the losers. Falling metals prices due to worry over the economy particularly added to the poor results of the mining sector. Yesterday, notes Mr Secker, , the Dow Jones industrial average fell 186.06 points or 2% to end at 9,135.34. Yesterday, notes Mr Secker, , the Nasdaq Composite Index lost 54.68 points (or 2.75%), to close at 1,930.84. The S and P 500 index slid by 24.36 points (or 2.43%) to close at 979.73. The US stocks had their worst loss in 7 weeks yesterday as weak data from Japan and a weak data from Lowe’s dampened hopes about the economies growth. Japan’s GDP pulled out of recession in the 2nd quarter, but it was at a slower rate than expected. Lowe’s stock dropped 10.3% . The Shanghai Composite index, China’s most-watched benchmark, fell 5.8 per cent to 2,871 on Monday, a drop of more than 17 per cent

Investments in the private equity sector plummeted by 80% in the first half of the year, compared to the same period the year before. International Financial Services London have underscored the ongoing lack of debt as causing this restrictive effect on the equity sector. Micheal Page recruitment company has reported a 50% drop in profits for the first half of the year, but also stated that the jobs market in the UK was showing signs of stabilization. The number of new jobs in the city dropped by 7% month-on-month in July, but is still at its second highest level this year, according to Morgan McKinley’s employment monitor. Japan became the latest major economy to emerge from recession yesterday, after 4 consecutive months of contraction its GDP grew 0.9% for the April-June quarter. This has also come of the back of news from Germany, France and Hong Kong showing signs of growth. The US Federal Reserve said yesterday it was extending to mid-2010 the Term Asset Backed Securities Loan Facility aimed at boosting lending in the ailing commercial real estate market. China on Monday signaled a softer stance in its protracted iron ore negotiations with global miners, when it announced a face-saving deal with Australian miner Fortescue Metal. China has been forced to modify its demands in the face of a sharp rise in spot ore prices. Chinese commodity imports are expected to slow in the second half of the year from record levels as the impact of the country’s stimulus package, arbitraging opportunities and stock-piling fade, according to a Royal Bank of Scotland report being published Monday.

Yesterday, notes Mr Secker, , the Sterling fell against the dollar while the price of oil dropped, causing some analysts to call an end to the rally. Cable has pulled up this morning, presently up at 1.6406.  Technical resistances now lie up at 1.6420 and 1.6450/60. While EUR/JPY is up at 134.43. EUR/USD has jumped higher in early European trade, presently at 1.4129.  The move comes with Asian stocks settling down after yesterday’s steep losses.

Oil prices fell on Monday while base metals moved lower and sugar prices slipped as a correction across commodity markets went into a second week. Gold fell 1.5 per cent to $932 a troy ounce, under pressure from the strength of the dollar. Copper dropped 3.1 per cent to $6,050 a tonne after hitting $6,460 on Friday, a high for 2009.

Due for release today, according to Greg, there are the GBP Consumer Price Index, GBP Core Consumer Price Index, Eur German ZEW Survey, Euro-Zone ZEW Survey and USD Producer Price Index, USD Producer Price Index.