Getting latest data loading
Home / Morning Report / Morning Report

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 10 May 2019

Yesterday’s FTSE 100 Leaders Close (p) Chg (p) % Chg % YTD
Barratt Developments PLC 600 14 2.4 29.6
RSA Insurance Group PLC 546.4 12 2.2 6.4
Imperial Brands PLC 2227.5 47 2.2 -6.3
Smith & Nephew PLC 1603 27 1.7 9.5
British American Tobacco PLC 2885.5 40.5 1.4 15.4
Yesterday’s FTSE 100 Laggards Close (p) Chg (p) % Chg % YTD
Centrica PLC 94.2 -10.8 -10.3 -30.2
Informa PLC 750 -36 -4.6 19
Admiral Group PLC 2043 -89 -4.2 -0.2
ITV PLC 118.75 -4.8 -3.9 -4.9
BT Group PLC 210.75 -8.5 -3.9 -11.5
Major World Indices Mid/Close Chg % Chg % YTD
UK FTSE 100 7,207.4 -63.6 -0.9 7.1
UK FTSE 250 19,285.6 -246.3 -1.3 10.2
FR CAC 40 5,313.2 -104.4 -1.9 12.3
DE DAX 30 11,973.9 -206.0 -1.7 13.4
US DJ Industrial Average 30 25,828.3 -139.0 -0.5 10.7
US Nasdaq Composite 7,910.6 -32.7 -0.4 19.2
US S&P 500 2,870.7 -8.7 -0.3 14.5
JP Nikkei 225 21,356.5 -45.7 0.0 6.7
HK Hang Seng Index 50 28,645.9 334.9 1.2 10.8
AU S&P/ASX 200 6,310.9 15.6 0.3 11.8
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, West Texas Int. ($/barrel) 62.08 0.2 0.3 36.7
Crude Oil, Brent ($/barrel) 70.76 0.4 0.6 30.6
Gold ($/oz) 1285.47 -0.5 0.0 0.2
Silver ($/oz) 14.93 0.1 0.7 -3.5
GBP/USD – US$ per £ 1.3003 0.0 2.0
EUR/USD – US$ per € 1.1225 0.1 -2.1
GBP/EUR – € per £ 1.1584 -0.1 4.2
FTSE 100 called to open +30pts at 7237

FTSE 100: 2-month, 4-hourly

Click graph to enlarge

Markets Overview:

FTSE 100 called to open +30pts at 7237, rebounding off overnight lows of 7212 within a 3-day 7210-7280 range. Bulls need a break above 7250 to get into the upper half of the range, if not above 7280 to escape said channel. Bears require a breach of 7212 overnight lows.Watch levels: Bullish 7250, Bearish 7210

Calls for a positive open come despite US-China trade talks failing to deliver a hoped-for breakthrough. Asian mostly mixed, opening higher but reacting negatively/losing steam after the threatened tariff increase on Chinese imports was delivered.

Gold ($1286) remains equally and surprisingly range-bound $1280-1290 having already priced in the risk of trade talks faltering. Oil ($71.2), is also seeing a modest increase as investors hedge out out of equities for the time being. GBP still sluggish hovering around the $1.30 due to market uncertainty and upcoming UK GDP data.


In corporate news this morning:

Infratil confirms possible acquisition of Vodafone New Zealand. Talks with Vodafone and financiers ongoing but incomplete, other parties involved. Australian Financial Review suggests deal could be worth A$2.50bn ($1.75 bn).

AstraZeneca pooled analyses of roxadustat global Phase III trials allows talks to begin with US FDA for regulatory submission in second half.

Bunzl finance director to retire, leaving Feb 2020, succeeded by CFO of Inchcape.

BA-owner IAG: Q1 Passenger revenues +5.2% YoY, Operating Profit -60%; Capacity +6.1%, Passenger revenues available seat KM -0.8%; Fuel unit costs +15.8%; Cash +€1.2B, net debt down. CEO says not bidding for Thomas Cook Airlines. No impact from Brexit uncertainty on bookings.

IAG April passenger +7.3% Month-on-Month/+6.5% Year-on-Year; Revenue Passenger KM +7.7% MoM/+6.8% YoY; Capacity +5.8% MoM/+6% YoY; Load factor +1.5pts MoM/+0.5pts YoY.

NSF says Provident Financial claims about NSF’s capital position are unfounded, based on false premises, founded on incorrect assumptions and designed to provoke doubt and fear.

Provident Financial says met with 36% of shareholders; notes latest acceptance report from NSF suggests 96% of Provident shareholders not yet backed deal.

Millennium & Copthorne Q1 RevPAR  +2.2% (-0.9% at constant FX); Like-for-like RevPAR -0.8%; pre-tax profit -57.7% negatively impacted by two major refurbishments. First 21 days of April, show like-for-like Group RevPAR +2.2%.

Morgan Advanced Materials Q1 Trading Sales +2%. Carbon & Ceramics division sales +7% while Thermal Products sales -3%. Outlook unchanged.

Lonmin H1 swings back to operating profit; Gross cash +47% YoY; Q2 Platinum sales +4.2% YoY, H1 flat. Q2 platinum production +16% YoY, H1 +1%. H1 Production Costs +5.6% but unit costs +15.5%. Traditionally expect H2 output above H1, but given production losses during H1, as well as transaction with Sibanye-Stillwater, expect sales for full year at lower end of sales guidance range.


In focus today:

US-China trade talks. Deal, or no deal? Retaliation for Trump raising tariffs again? Risk-on or risk off for markets into the weekend?

The preliminary reading for UK GDP (9.30am) is forecast firmer in Q1, rebounding/re-accelerating from its Q4 slowdown. March was likely flat on account of Brexit uncertainty. Watch GBP and its impact on the FTSE.

UK Industrial and Manufacturing Production  (9.30am) is forecast weaker in March (close to flat), albeit continuing to climb on a year-on-year basis. Further strengthening in UK Construction Output may cheer industrials and Housebuilders. UK Business Investment, however, likely stayed in contraction due to Brexit uncertainty.

US April Headline Inflation (1.30pm) may have ticked over the Fed’s 2% target, while the Core metric remains above it, keeping us believing the FED won’t be any position to hike rates again anytime soon.

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.

Back to Top

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.

Prepared by Michael van Dulken, Head of Research
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

4.81 Average

156 Reviews


I have found Accendo staff very helpful,,and informed. I have traded with you for some years now and have no regrets. Keep up the good work!

Posted 9 months ago

Shaun D

since signing up for Accendo I have had two traders, Mark and Sam. I have found both of these to be very informative about how CFD's work and they have made it very easy for me. Since working with Sam (last four months) my trading knowledge has improved and I can make more informative decisions about which Company's to invest with. Keep up the good work Sam.

Posted 1 year ago


I am very happy with the service I get from Accendo Markets and in particular Amrit Panesar. He is very professional and pleasant to speak to and this counts for a lot.

Posted 1 year ago

Shreekant P

Its a good site for dealing stocks worldwide and having good staff.

Posted 1 year ago

Nick W

Krishan Appiah is one of the most dedicated / informative broker I have ever had.

Posted 1 year ago

Thomas I

Since I have been trading with Accendo Markets I have experienced much greater success than has been my experience with other trading companies mainly due to the help given by, what I consider to be my terminal with the trading floor, Mark, who has been most helpful in reminding me of the progress of my positions throughout the day and keeping me in touch with those positions so that I can more easily make successful trades when appropriate instead of missing out on opportunities through lack of attention. He draws my attention to the situations and enables me to make profitable trades. I am very happy with the situation at the moment and am enjoying the experience. Thomas Irving.

Posted 1 year ago

Kartik A

Accendo markets keep me connected with the market and its very well followed by Mr. Krishan Appiah ,which helps me to take certain decision on time.

Posted 1 year ago

Peter p

I have been trading with Accendo Markets and James Abbott my account manager for coming on 5 years now, James Abbott the senior trader of Accendo Markets provides me with up to minute information when I need it and find him very easy and professional to deal with. Whenever I need to trade or am not sure about anything James is always their to help with any queries I may have. The Accendo Platform I find very easy to use and navigate although it has been slightly changed over the years but definitely for the better. Personal when I do trade 90% of the time, I rather telephone call to place my trade dealings and if James is not there to take my call I find others at Accendo like Sam, Lee take my trades and are. All in all everyone at Accendo Markets are amazing to deal with and my relationship with Accendo is just as I like it. Peter Petrou

Posted 1 year ago

Mrs. J

"Our Trader, Aymen Azizi, has been nothing but attentive to our every need throughout our long relationship with him. No issue is too small, full explanations on all our questions."

Posted 1 year ago

Brian R

I have been with Accendo for a long time now, ten or twelve year's, probably more . As I told Sam (my trader) I thought that CFDs were better than sex . I stopped trading for a few years and only started back about a couple of months ago. But it is as if I had never been gone , so to speak. Sam has helped me every step of the way, at my age one forgets things. I have only praise for Accendo and as far as I am concerned the platform is the best . Now I am back trading at 71 years of age, I might even try sex again. Brian Robertson.

Posted 1 year ago

Jim W

I understand how to make a profit with CFDs. I am restricted by the range of companies I have knowledge of. Although, I am not sure that is a big problem. Tom Robertson is a very fine man.

Posted 2 years ago

Rebekah S

Well, I would not be trading without the help of my trader, Sam Alnakkash. He provided a really great overview of Accendo Markets, an insight into trading in general and how to get started in trading online. His advice, support and training has been fantastic all along the way, enabling me to start trading earlier than I would have done had I not had the support. He has also been very adept at understanding me as a client in order to help me achieve my trading goals. I still have a lot to learn and hope I will get there.

Posted 2 years ago

Nick z

I like the updates on shares I trade. Updates from Bloomberg and Reuters plus industry updates and breaking news. I've had Matt Grice and James Abbott and found both to be excellent. I would like to continue a personal service with James. He understands how and which stocks I trade.

Posted 2 years ago

Steve O

Excellent, knowledgable broker interaction and communication, coupled with very good research and analysis.

Posted 2 years ago

William P

Being new to direct trading I needed help and was given all the time and advice that I needed to feel fully able to make decisions on what I wanted to invest in. I asked for and got exactly the type of info I required provided by Tom Cook, who I would recommend to anyone looking for help.

Posted 2 years ago

Mr. W

I have been dealing with accendo for the past 8 years my broker Amrit I find him very helpful when he is there lol and had many offers to change but will not do it Bill Roberts

Posted 2 years ago

Zoran N

Very good all round service! Timely market information. (charts + trends coverage ) On the ball accounts managers ,quickly available and alert . Part of my success owed to my personal manager Mr Sam Springet , than you.

Posted 2 years ago

Mr Brian C

Easy to deal with.....

Posted 2 years ago

Muhammed S

Accendo markets are great for trading cfds and their research is second to none! Aymen manages my account is extremely helpful and always keeps me updated on market info. Thanks again

Posted 2 years ago

Mr Buta B

Always available, whenever I call I get straight through to someone that can and will help. The staff are very knowledgeable, helpful and easy to talk to.

Posted 2 years ago

Stephen B

Aymen Azizi keeps an eye on what is happening in the market and informs me with timely relevancy, email call, and txt.

Posted 2 years ago