The Market Close - Markets trade sideways as investors wait patiently for an outcome in the U.S. - Collins Sarri Statham Investments

Today's Closing Update

U.S. Shares fell modestly at the open on Monday, as investors found few reasons to keep pushing shares higher following a push to repeated records, and as the government shutdown provided another element of uncertainty to markets.

European shares were struggling for direction after reports indicated that Germany’s social democratic party had voted to commence official coalition talks

Britain should prepare for a much more economically optimistic 2018 because global growth is better than predicted. That’s the argument of Lord Jim O’Neill, the former Conservative Treasury minister and Remain supporter. He said Britain’s growth forecasts are likely to be upgraded as China, the US and Europe show increased activity. The gloomy predictions of the possible effects of Brexit are likely to be “dwarfed” by the more positive figures, Lord O’Neill added.

Kier, a leading property, residential, construction and services group, provides the following updates relating to its infrastructure and regional building businesses. HS2 and Highways England smart motorway joint ventures transfer from Carillion; £140m additional infrastructure contracts awarded; and a £160m Public Health England contract award.

Indivior received a boost after news emerged over the weekend that a rival had hit a regulatory hurdle. Following approval in December from the US Food and Drug Administration for Indivior’s Sublocade, a once-monthly injectable treatment for moderate to severe opioid addiction disorder, sector peer Camurus announced that its rival product had not been approved by the FDA.

Tesco is to cut 1,700 jobs from its branches and warehouses as part of its turnaround strategy for the company. The UK’s biggest supermarket chain also plans to create 900 jobs and says it will try to move staff affected by the cuts into the new roles. UK chief executive Matt Davies said the changes were “necessary to ensure our business remains competitive and set up for the future”. Tesco is aiming to make £1.5bn in cost savings over the three years to 2020.

Randgold Resources said the Kibali gold mine is expected to be in full production in the year, following the commissioning of its underground operation’s automated ore handling and hoisting system. Randgold said that what remains to be done is to ramp up underground production and complete the construction of Kibali’s third hydropower station Azambi, which is scheduled to be plugged in the middle of the year.

Oil oscillated toggled between gains and losses as Saudi Arabia and Russia signaled that their historic production caps may be extended into next year if a global supply glut persists.

Gold steadied as the dollar wallowed near three-year lows following a U.S. government shutdown, although bullishness in the wider financial markets capped the precious metal’s gains.

Market Close

Market	Index	Change	% Change
UK 100	7,715.4	-15.4	-0.2%
UK 250	20,655.2	+1.9	+0.0%
GER 30	13,463.7	+29.2	+0.2%
FRA 40	5,542.0	+15.5	+0.3%
U.S. 30	26,083.01	+11.29	+0.0%
U.S. 500	2,817.9	+7.6	+0.3%
OIL (BRENT)	69.26	+0.65	+1.0%
GOLD	1,332.92	+1.08	+0.1%

UK Risers & Fallers

Company	Price	Change	% Change
Barclays	209.2	+8.7	+4.3%
NMC Health	3360	+80	+2.4%
Ocado	526.1	+124	+2.6%
William Hill	297	-39.1	-11.6%
Rentokill International	306.7	-9.4	-3.0%
Relx	1603	-43.5	-2.6%