Getting latest data loading
Home / Morning Report / Morning Report
Leveraged products involve a high level of risk and you can lose more than your original investment.

They are not suitable for everyone so please ensure you understand the risks involved and if necessary please obtain investment advice from a financial adviser before investing. This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 12 October 2017

Yesterday’s FTSE 100 Leaders Close (p) Chg (p) % Chg % YTD
Whitbread 4028 133.0 3.4 6.7
NMC Health 2928 94.0 3.3 89.6
Smith & Nephew 1401 42.0 3.1 14.7
easyJet 1289 36.0 2.9 28.3
International Consolidated Airlines 624 15.5 2.6 41.4
Yesterday’s FTSE 100 Laggards Close (p) Chg (p) % Chg % YTD
Mondi 1926 -163.0 -7.8 15.6
Smurfit Kappa Group 2210 -67.0 -2.9 17.3
BHP Billiton 1366.5 -30.0 -2.2 4.6
WPP Group 1372 -27.0 -1.9 -24.5
ITV 173.7 -2.6 -1.5 -15.8
Major World Indices Mid/Close Chg % Chg % YTD
UK FTSE 100 7,533.8 -4.5 -0.06 5.5
UK FTSE 250 20,167.8 21.5 0.11 11.6
FR CAC 40 5,362.4 -1.2 -0.02 10.3
DE DAX 30 12,970.7 21.5 0.17 13.0
US DJ Industrial Average 30 22,873.0 42.3 0.19 15.7
US Nasdaq Composite 6,603.6 16.3 0.25 22.7
US S&P 500 2,555.2 4.6 0.18 14.1
JP Nikkei 225 20,949.4 68.1 0.33 9.6
HK Hang Seng Index 50 28,502.9 113.3 0.40 29.6
AU S&P/ASX 200 5,794.5 22.4 0.39 2.3
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, West Texas Int. ($/barrel) 50.95 0.20 0.38 -5.5
Crude Oil, Brent ($/barrel) 56.58 0.31 0.55 -0.5
Gold ($/oz) 1297.40 2.60 0.2 12.6
Silver ($/oz) 17.23 0.01 0.07 8.0
GBP/USD – US$ per £ 1.3260 0.16 7.4
EUR/USD – US$ per € 1.1874 0.08 12.9
GBP/EUR – € per £ 1.1168 0.08 -4.8
FTSE 100 called to open flat at 7535

FTSE 100: 1-week; 30 minutes

Click graph to enlarge

Markets Overview: (Source: Bloomberg, FT, Reuters, DJ Newswires)

FTSE 100 Index called to open flat at 7530 (ex-div 7pts), having moved largely sideways overnight. Bulls need a break above 7535 to inspire confidence in regaining 7555 or better. Bears are hoping this is a bearish pause after yesterday’s pullback, with a breakdown at 7525 opening the door to 6-day rising support at 7510. Watch levels: Bullish 7535, Bearish 7525.

Calls for a flat open come even after a positive finish on Wall Street and Asia following suit overnight. The latest Fed minutes left the door wide open for another hike in December, which markets are expecting (80% probability). However, confusion among Fed voting members about persistently low inflation in spite of low unemployment has muddied the outlook about the pace of further hikes.

The USD has thus extended its recent weakness, buoying commodity prices, however, this is also hampering the UK FTSE by having further strengthened GBP – a negative for its army of internationally exposed constituents, reducing the value of their profits and often significant dividends. Miners trade lower on Australia’s ASX amid China steel production cuts.

FTSE headlines this morning include Sky comparable revenues +5% in Q1, EBITDA +11%, new customers +51%, sees trading in-line with views. Acacia Mining sales below production, as expected, due to export ban. More details on 20 Oct. Tullow Oil awarded four 90% onshore licences in Ivory Coast. Ultra Electronics JV awarded $220m IDIQ option exercise for US Navy sonobuoys.

UK CMA provisionally cleared JustEat acquisition of Hungryhouse. Hays says conditions remain good in the vast majority of our International markets; UK stable. WH Smith says Travel revenues now exceed those from High Street, dividend +10%, still highly cash generative. Booker total sales +2.5%, PBT +9%. Non-tobacco sales up, tobacco down due to legislation. No forward looking statements due to offer period.

US equity markets posted a trifecta of record closes as Fed minutes all but confirmed a December rate hike in spite of concerns about subdued inflation. The Dow Jones and S&P 500 both finished 0.2% higher at new all-time bests thanks to strength for Johnson & Johnson and McDonald’s on the former, while Real Estate led the latter and the Tech-focused Nasdaq outperformed, closing up 0.25%.

Crude Oil prices have retreated overnight as API reports a shock build in inventories last week, missing expectations for a drawdown. This has seen global benchmark Brent retreat from $57 to $56.5, while US crude dipped from a near 10-day high of $51.4 to test $51. All eyes will now be on this morning’s IEA monthly report and this afternoon’s official EIA inventories data for confirmation of the surprise API build.

Gold has extended its rally overnight as the Federal Reserve, despite pointing towards a December rate hike, noted that weak inflation may not be ‘transitory’ as first thought. This saw the US dollar weaken to the benefit of the precious metal, climbing to a 3-week high of $1296. The greenback will remain a key driver of sentiment throughout the day as the IMF central bankers’ conference continues.

In focus today will be Eurozone Industrial Production (10am), forecast to continue its rebound from a negative June and flat July, although the annual rate may have cooled to its slowest since April. This afternoon, US PPI (1.30pm) offers the latest US inflation prints (before CPI tomorrow) with expectations for acceleration in headline producer prices but Core holding largely unchanged.

US Oil Inventories (4pm) are of interest in light of last night’s surprise API inventory build, especially with consensus for a drawdown in EIA inventories of 1-2m barrels (note consensus may get updated). In the meantime, listen out for the monthly IEA report (10am), hot on the heels of yesterday’s OPEC update, with just as much potential to move prices.

Speakers are in plentiful supply today after the Bank of England (BoE)’s Credit Conditions and Liabilities Survey (9.30am) for the third quarter, which could have a bearing on FTSE banks.

US Treasury Secretary Mnuchin is appearing on CNBC at 12:45pm as the race for the next Fed chair hots up, with the influential member of the Trump administration likely to be pushed for his preferred candidate having reportedly backed current Governor Powell for the job behind closed doors.

At 3.30pm in Washington, Powell delivers a keynote address on Emerging markets, his colleague Brainard and ECB President Draghi are panel participants at the IMF’s “Rethinking Macro policy” conference while ECB Chief Economist Praet speaks at an investor seminar.

The evening sees BoE Chief Economist Haldane (6.45pm) and the ECB’s Coeure (8.45pm) on panels at the same “Rethinking Macro Policy” conference at the IMF meet.

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.

 

UK Company Headlines: (Source: Reuters/DJ Newswires)

  • Hays 1Q Comparable Net Fees +10%; Tough Public Sector Hits UK, Ireland
  • Booker Group 1H Pretax Profit and Revenue Increase
  • Tullow Oil Buys Land in Ivory Coast for Oil Exploration
  • SKY PLC Sees Trading in Line With Views
  • Acacia Mining sales below production, as expected, due to export ban
  • Ultra Electronics JV awarded $220m IDIQ option exercise for US Navy sonobuoys
  • UK CMA provisionally cleared JustEat acquisition of Hungryhouse
  • WH Smith dividend +10%, still highly cash generative

Back to Top
  • Our 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. Accendo Markets research has not been prepared in accordance with legal requirements designed to promote its independence and may not comply with FCA guidelines to prevent conflicts of interest and is not subject to any prohibition on dealing ahead of the dissemination of research. As such, this research does not constitute a personal recommendation or offer to enter into a transaction, it is produced and distributed for information purposes only. Accendo Markets considers 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

CFDs, spreadbetting and spot FX are leveraged products & can result in losses exceeding your initial deposit. They are not suitable for everyone, so please ensure that you understand the risks.
The value of shares can go down as well as up, so you could get back less than you invest.

Telephone calls and online chat conversations may be monitored and recorded for regulatory and training purposes.

* We provide these as underlying assets to CFDs and Spreadbets.

To view our policies and terms, please click here

This website is not intended for or directed at residents of the United States or any country outside the UK. It is not intended for use by or distribution to any person in any jurisdiction or country where its use or distribution would contravene any regulation or local law.
Prices on this page are delayed.

Like many websites, we use cookies for statistical purposes and to acquire information on general internet use. This helps ensure that you get the full benefit of our services, and enhances your browsing experience . For more details on the cookies we use, view our privacy policy under the heading 'How We Use Cookies'. By using this website, we'll assume that you're happy to receive all cookies from Accendo Markets.
Removing cookies may impede the operation of some parts of this website. For general information about cookies and how to remove them, please click here 

Accendo Markets Ltd - 1 Alie Street, London, E1 8DE (UK) Telephone: 020 3051 7461 - Accendo Markets Ltd. is Authorised and Regulated by the Financial Conduct Authority (FCA) No. 475285. Accendo Markets Ltd. Registered in England and Wales No. 6417051. © Copyright Accendo Markets Ltd 2015. All rights reserved.
EXCELLENT

4.83 Average

148 Reviews

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 month 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 2 months 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 3 months 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 5 months 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 5 months 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 6 months ago

Steve O

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

Posted 7 months 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 7 months 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 7 months 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 7 months ago

Mr Brian C

Easy to deal with.....

Posted 7 months 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 7 months 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 7 months 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 7 months ago

Mr. G

the web site is so easy to use and Aymen my point of contact provides exactly the right level of intervention

Posted 7 months ago

Jyotish G

Very good info and continuous support from Aymeb

Posted 7 months ago

Chander S

The personal service of my dedicated broker is excellent. I do get daily mails on market conditions and information of future ex dividend dates of Stock by accendo Market, which is helpful to make a decisions on buy or sell stock. the whole concepts helps in to play with some money, risks and rewards in this share Market world, which makes me happy if and when I make any money,

Posted 7 months ago

Dilip P

My account manager Aymen has provided unbiased professional advice since day one. He allows me to trade at my own pace and is not pushy at all unlike most other brokers. Aymen is an extremely valuable asset to his Company and I would highly recommend Aymen and Accendo Markets.

Posted 7 months ago

DAVID P

Having an individual on call to help me, as a complete novice gives me the confidence to try trades to see what happens. The platform is very easy to use.

Posted 8 months ago

Frith L

Whenever I have a query Accendo are always willing to help out with a patient answer. I especially mention Tom Robertson here whose valuable help has aided me in charting new waters. I really appreciated his call when a share of mine was doing well. Keep up the good work all.

Posted 10 months ago

John F

pleasant people who know what they are talking about and i have had much help and information from adam vettese who answers every one of my questions in format that i understand , a great company, i am very pleased.

Posted 10 months ago