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Morning Report - 12 July 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
DS SMITH PLC 355.5 2.0%
TESCO PLC 241.3 1.8%


Yesterday’s FTSE100 Laggards Price (p) % Chg
OCADO GROUP PLC 1140.0 -6.2%
JUST EAT PLC 626.8 -2.3%
EVRAZ PLC 612.0 -2.1%
GLENCORE PLC 265.0 -1.9%
HALMA PLC 1981.5 -1.9%
Major World Indices Price % Chg 1 YEAR
FTSE 100 INDEX 7,510 -0.3% -1.9%
DOW JONES INDUS. AVG 27,088 0.9% 8.7%
DAX INDEX 12,332 -0.3% -0.7%
NIKKEI 225 21,686 0.2% -2.3%
S&P/ASX 200 INDEX 6,697 -0.3% 6.8%


Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 60.62 0.70%
Brent Crude (ICE) USD/bbl. 67.03 0.77%
Gold Spot USD/t oz. 1,407 0.2%
Copper (Comex) USd/lb. 270 0.4%
FTSE 100 called to open +30pts at 7540

FTSE 100: 1 day, 6 months

Click graph to enlarge

Markets Overview:

FTSE 100 called to open +30pts at 7540; calls for a positive open come on the back of fresh record highs during U.S. trading sessions, the S&P closed above 3000 while the Dow Jones broke through and closed above 27000 for the first time ever! This positive market sentiment continued through Asian bourses overnight.  Crude oil has pulled back from its highs of yesterday for $68 per barrel, however has still maintained a level of $67.5. Gold also has pulled back from yesterday’s highs, but similar to Crude oil, has held about a key level ($1400 in the case of gold) to sit at $1407.


In corporate news this morning:

AstraZeneca has announced that the FDA has granted Orphan Drug Designation to Infinzi for the treatment of small cell lung cancer. 

Thomas Cook is seeking a £750m capital injection from Fosun and bank creditors under a deal which would give the Chinese conglomerate majority ownership of its core tour operator business. 

WPP has proposed a sale of 60% of its subsidiary Kantar which is expected to raise £2.5bn after tax

Ashmore Group reports assets under management increased by $6.5bn Q2 2019, with positive investment performance of $3.2bn. Client activity levels remain healthy.

Sophos revenue increased 3% YOY, strong subscription revenue growth of 10% with billings increased by 5% in the period. Operating profit increased by 10%. 

Anglo American upgraded to hold from sell to Morningstar.

IAG (British Airways Owner) upgraded to hold from reduce by Kepler Cheuvrex

Easyjet upgraded from hold to buy by Berenberg



In focus today:

Chinese trade balance (8.00am)

Eurozone industrial production data (10.00am)

U.S. Producer price index data (1.30pm)

Baker Hughes Oil rig count (6.00pm)

Risk on or risk off for the weekend? Monday morning Chinese GDP (3.00am)

Company results out today! – Ashmore & DCC

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.

Prepared by Michael van Dulken, Head of Research
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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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