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|Yesterday’s FTSE100 Leaders||Price (p)||% Chg|
|ROYAL BANK OF SCOTLAND GROUP||192.8||2.5%|
|NMC HEALTH PLC||2,826.0||2.2%|
|Yesterday’s FTSE100 Laggards||Price (p)||% Chg|
|RENTOKIL INITIAL PLC||448.6||-3.6%|
|COCA-COLA HBC AG-DI||2715.0||-3.4%|
|LONDON STOCK EXCHANGE GROUP||7080.0||-3.3%|
|AVEVA GROUP PLC||3658.0||-3.3%|
|Major World Indices||Price||% Chg||1 Year|
|FTSE 100 INDEX||7,236||-0.6%||-0.6%|
|DOW JONES INDUS. AVG||26,836||0.1%||3.8%|
|S&P/ASX 200 INDEX||6,614||-0.5%||7.6%|
|WTI Crude Oil (Nymex)||USD/bbl.||58.11||0.45%|
|Brent Crude (ICE)||USD/bbl.||62.85||0.42%|
|Gold Spot||USD/t oz.||1,489||-0.7%|
FTSE 100 called to open -10 points at 7225; this comes on the back of lawmakers handing Boris Johnson two more defeats, voting once again to deny the PM’s bid for an early general election on Oct. 15. MPs also voted to force the government to publish its preparations for a no-deal Brexit. Overnight Chinese data showed prices fell for the most in 3 years seeing deflation deepen seeing stocks on Asian under pressure. Traders however may find some positivity in the “insignificant” size of moves across global bourses on the back of news that once upon a time may have seen a far more significant movement, is this further resilience, and could this be once again a case of bad news is actually good? This could see further pressure to add stimulus to the markets. Stateside the Dow Posted it’s 4th straight day of gains amid speculation that there may be further developments with US-China trade talks. Crude oil held above $63 per barrel overnight, could this now prove support for the commodity? Gold prices slipped yet further, breaking below $1500 for the first time in around 3 weeks, is this also evidence of risk on sentiment with investors?
In corporate news this morning:
GKP announces its intention to re-commence its share buyback programme for the remaining $10m of common shares.
Barclays announces increased PPI provisions by £1.2-1.6bn more than already stated previously
Bovis Homes & Galliford Try announce that they have re-engaged in preliminary discussions regarding a potential combination of their Linden Homes, Partnerships & Regeneration divisions.
Bovis reported record profits increasing +20%, with high quality land acquisitions in the year to date totalling 2,007 plots across 12 sites. Interim dividend +8% to 20.5p per share, reflecting confidence in the business.
JD Sports H1 pretax profit +6.6%, revenue +47%, interim dividend payable per ordinary share of 0.28p. They expect to deliver results at the mid-point of expectations for the full year.
Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Tesco downgraded to Hold by HSBC (Bloomberg: 14 Buys/ 6 Holds/ 1 Sell)
SSE upgraded to Overweight/In-line by Morgan Stanley (Bloomberg: 11 Buys/ 8 Holds/ 1 Sell)
Chinese inflation data
UK claimant count change
Bovis homes, Cairn Energy, JD Sports, Petropavlovsk
Morrisons, Sound Energy, Amerisur Resources, EVR Holdings, Wetherspoons
Melrose – 0.8%
Stagecoach – 2.9%
Restaurant Group – 1.6%
Cineworld – 1.4%
(Full list available on Week in advance)
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