Morning Call by Traders University

London’s top shares slipped 0.90 percent on Monday, dragged down by a poor start on Wall Street as miners led the fallers. The benchmark FTSE 100 ended the day down at 3,993.54 points. Leisure travel group TUI Travel was the best blue chip performer, climbing 4.7 percent — or 12 pence — to 267.5, followed by integrated energy giant Centrica , which added 4.62 percent — or 10.25 pence — to stand at 232. Property companies moved higher after reports of a deal with UK retailers over service charges and rent, which could save a number of shop chains from administration. Stocks gaining positive territory included Land Securities which added 14.5p to 497.5p and British Land from 14p to 424p. Wall Street pulled back for the first time in five days Monday as investors worried about balance sheets at banks and the quarterly results that businesses will start releasing this week. Investors learnt about talks for IBM Corp.’s $7 billion deal to buy Sun Microsystems Inc. have stalled — a sign that the market is still not ready to support big mergers. The Dow Jones industrials fell 41.74, or 0.5 percent, to 7,975.85 after being down as much as 155 points. EURUSD Outlook The EURUSD failed to continued it’s bullish scenario yesterday. The pair attempted to push higher, topped at 1.3578 but further bullish scenario was rejected as the pair whipsawed to the downside, hit bottom at 1.3358 and closed at 1.3415. No high news on the calendar today.