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Morning Report - 9 August 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
NMC HEALTH PLC 2,095.0 4.8%
OCADO GROUP PLC 1,208.0 4.3%
Yesterday’s FTSE100 Laggards Price (p) % Chg
BT GROUP PLC 173.6 -5.9%
CENTRICA PLC 67.6 -1.2%
BARCLAYS PLC 145.9 -1.1%
Major World Indices Price % Chg 1 YEAR
FTSE 100 INDEX 7,286 1.2% -5.9%
DOW JONES INDUS. AVG 26,378 1.4% 3.4%
DAX INDEX 11,845 1.7% -6.6%
NIKKEI 225 20,685 0.4% -8.5%
S&P/ASX 200 INDEX 6,584 0.3% 4.6%


Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 52.61 0.13%
Brent Crude (ICE) USD/bbl. 57.41 0.05%
Gold Spot USD/t oz. 1,503 0.1%
Copper (Comex) USd/lb. 259 -0.6%
FTSE 100 called to open -25 points at 7260

FTSE 100: 1 hour, 8 days

Click graph to enlarge

Markets Overview:

FTSE 100 called to open -25 points at 7260; Although we are set to open lower this morning on the FTSE, it is worth noting we have now seen the index bounce 200 points since Monday mornings low (7048) and even tested 7300 overnight.  During the Asian trading session we saw stocks edge higher, however these gains were capped as Chinese producer price data fell for the first time in 3 years, seeing deflation worries resurface, this paired with renewed trade war jitters prevented the Asian session run further. It was even more bullish during Stateside trading yesterday seeing all major indices end the day in the green, the Nasdaq leading the way with gains in excess of 2%. Oil maintained yesterday’s lows of $57 a barrel.  Gold pulled back slightly from Wednesdays highs but still maintained a level above the crucial $1500 handle.


In corporate news this morning:

AstraZeneca announced today that its cancer drug Tagrisso significantly improves overall survival in the Phase III FLAURA trial for 1st-line EGFR-mutated non-small cell lung cancer 

CRH completes the latest phase of its share buyback programme, returning a further €350 million of cash to shareholders. This brings total cash returned to shareholders under their ongoing share buyback programme to €1.35 billion.

G4S announces that the board have approved plans to separate its cash solutions business as it looks to focus on its mainstay security operations, currently evaluating all proposals from third parties  for its cash solutions business. Profit before interest, tax and amortization rose to £234m (Ahead of analyst expectations of £231m). 

Hikma has reported that its core earnings rose 14.3% in H1 2019 to $288m. Consequently it has raised its full-year revenue forecasts and said sales in its injectables unit would be near the high end of its previous outlook range due to higher demand for its medicines. 

William Hill reports H1 2019 adjusted operating profit -33%to £76.2m, reflecting £2 stake limit and investment in US expansion. Interim Dividend of 2.66p per share. Full-year performance expected to be in-line with expectations. 

WPP reported better-than-expected organic sales performance for Q2 2019, as its new strategy help them win new business and retain clients. Organic growth less-through costs -1.4% (-3% expected), an improvement on Q1. Reiterates full year guidance of -1.5% and -2%.

Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal



Ultra Electronic target price increased to 2100p by Kepler Cheuvreux (Bloomberg: 6 Buys / 3 Holds / 3 Sells)

WPP target price increased to 1170p by Goldman Sachs (Bloomberg: 13 Buys / 11 Holds / 3 Sells)


In focus today:

Overnight Chinese CPI data reaction

U.K. GDP (9.30am)

U.S. Producer price data (1.30pm)

Baker Hughes oil rig count (6.00pm)


Company reporting day reaction:

William Hill, WPP, Hikma, G4S


Companies reporting next week:

TUI, Admiral, Prudential

(Full list available on Week in advance)


 Next Week’s Ex-Dividend payers:

Royal Bank of Scotland – 6.85%

Evraz – 4.73%

Phoenix – 3.47%

Anglo American – 2.85%



For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.

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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.

Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

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