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Morning Report - 10 September 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
AVIVA PLC 374.4 2.9%
CARNIVAL PLC 3,603.0 2.5%
PRUDENTIAL PLC 1,439.5 2.5%
NMC HEALTH PLC 2,826.0 2.2%


Yesterday’s FTSE100 Laggards Price (p) % Chg
ASTRAZENECA PLC 7004.0 -3.5%
COCA-COLA HBC AG-DI 2715.0 -3.4%
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%
DAX INDEX 12,226 0.3% 2.0%
NIKKEI 225 21,372 0.3% -4.5%
S&P/ASX 200 INDEX 6,614 -0.5% 7.6%
Commodities Units Price % Chg
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%
Copper (Comex) USd/lb. 264 0.5%


FTSE 100 called to +35 points at 7317

FTSE 100: 4 hours, 2 Months

Click graph to enlarge

Markets Overview:

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)



In Focus Today:

Chinese inflation data


UK claimant count change


Companies reporting day reactions:

Bovis homes, Cairn Energy, JD Sports, Petropavlovsk


Companies reporting tomorrow:

Galliford Try


Companies reporting next week: 

Morrisons, Sound Energy, Amerisur Resources, EVR Holdings, Wetherspoons


Next week Ex-Dividends:

Melrose – 0.8%

Stagecoach – 2.9%

Restaurant Group – 1.6%

Cineworld – 1.4%



(Full list available on Week in advance)

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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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.5% 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.

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