20/1/09

FTSE 100	4108.47, -38.59	Dow	8281.22
FTSE 250	6215.49, -34.11	Nasdaq	1529.33
FTSE All Share	2061.15, -18.52	S&P 500	850.12
Nikkei	8065.79, -191.06	Hang Seng	12959.77, -319.08
Oil (Crude)	$33.35	Gold	$839.9
Base Rate	1.5%	10 Yr Gilt	2.33%
£/$	1.404	Euro/Gbp	0.924

Markets
Wall Street was closed yesterday for Martin Luther King Jr's Birthday Holiday.

The Nikkei sank 191.06 points to close at 8,065.79 this morning as demand for goods and services fell and Royal Bank of Scotland forecast the biggest loss in UK corporate history. A Trade ministry report showed that household spending on services fell 0.9% in November from the previous month, while companies from Toyota to Sony have announced plans to fire workers.

The Hang Seng plunged 319.08 points to close at 12,959.77 this morning, sending the index to its lowest level in almost two months. HSBC Holdings lost 6.7% following the RBS announcement and Societe Generale advised investors to sell the stock. Sun Hung Kai Properties slid 3% as Fitch Ratings said the city's residential real estate market faces a downturn.

The FTSE 100 is currently 18.56 points higher at 4,127.03. Royal Bank of Scotland rebounded 19% following yesterday's session which saw it plummet 67% lower. RBS has said it will report a 2008 loss of up to £28 billion, largely driven by a goodwill impairment charge of £15 to £20 billion related to its acquisition of parts of Dutch rival ABN AMRO in 2007. A number of financials follow after being hammered yesterday, including Barclays, up 4%, Lloyds, up 3.7% and Standard Chartered, up 3.5%. Invensys leads the fallers as investors frowned about their second half performance, shares are down 4.4%. A number of mining companies are also in the red after copper prices declined in Asia.

Economics
UK CPI (Dec) 09.30 gmt

Sharp discounting on clothing and electronic goods will continue to put considerable downward pressure on inflation. Lingering food price inflation and the summer rise in utility prices will bolster the overall inflation numbers, but with lower commodity prices feeding through to a petrol price decline of over 5 percent in December, inflation is following a distinct downward trend. RPI is expected to fall 1 percent month on month to 1.4 percent, reflecting not just a further reduction in petrol prices but also lower interest rates and the VAT cuts that began on 1 December.

The details published in this e-mail are intended for information only and should not be construed as advice under the Financial Services and Markets Act 2000. Aventus Capital Management will not accept responsibility for any actions taken (or not taken) on the basis of information published in this e-mail.

Aventus Capital Management is a trading name of Rickerbys LLP (OC328675) registered in England and Wales, registered office Ellenborough House, Wellington Street, Cheltenham GL50 1YD. A list of the Members of Rickerbys LLP will be provided on request or can be inspected at this address. Aventus is a trade mark and the “A” logo is a registered trade mark of Rickerbys LLP. Rickerbys LLP is regulated by the Solicitors Regulation Authority. Authorised and regulated by the Financial Services Authority.