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 - 13 March 2019

Yesterday’s FTSE 100 Leaders Close (p) Chg (p) % Chg % YTD
Evraz 611 15.8 2.65 27.16
Schroders 2675 66 2.53 9.5
Taylor Wimpey 181.95 3.9 2.22 33.54
Wood Group 562.6 11.4 2.07 11.14
easyJet PLC 1184 22.5 1.94 7.15
Yesterday’s FTSE 100 Laggards Close (p) Chg (p) % Chg % YTD
GVC 568 -20 -3.4 -15.73
Rentokil Initial 346 -7.5 -2.12 2.61
Intertek 4670 -95 -1.99 -2.71
Hikma Pharmaceuticals 1655.5 -22 -1.31 -3.53
Antofagasta 928.6 -11.4 -1.21 18.56
Major World Indices Mid/Close Chg % Chg % YTD
UK FTSE 100 7,151.2 20.5 0.29 6.3
UK FTSE 250 19,144.0 50.9 0.27 9.4
FR CAC 40 5,270.3 4.3 0.08 11.4
DE DAX 30 11,524.2 -19.3 -0.17 9.1
US DJ Industrial Average 30 25,554.8 -96.3 -0.38 9.6
US Nasdaq Composite 7,591.0 33.0 0.44 14.4
US S&P 500 2,791.5 8.2 0.30 11.4
JP Nikkei 225 21,290.2 -213.5 -0.99 6.4
HK Hang Seng Index 50 28,765.8 -155.0 -0.54 11.3
AU S&P/ASX 200 6,161.2 -13.6 -0.22 9.1
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, West Texas Int. ($/barrel) 57.15 0.22 0.00 25.8
Crude Oil, Brent ($/barrel) 66.84 0.26 0.00 23.4
Gold ($/oz) 1304.16 6.46 0.01 1.7
Silver ($/oz) 15.55 -0.11 -0.01 0.5
GBP/USD – US$ per £ 1.3093 0.22 2.7
EUR/USD – US$ per € 1.1285 -0.02 -1.6
GBP/EUR – € per £ 1.1602 0.23 4.3

 

FTSE 100 called to open -20pts at 7130

FTSE 100: 2-month, 4-hour

Click graph to enlarge

Markets Overview

FTSE 100 called to open -20pts at 7130, pointing towards the apex of a March narrowing pattern, continuing to consolidate gains of 11% from Christmas lows to mid-Feb highs. Bulls need a break above 7150 to test the 7190 ceiling of a 1-month consolidation channel. Bears require a breach of 7100 to test 3-month long-term rising support at 7055. Watch levels: Bullish 7150, Bearish 7100.

Calls for a negative open come after a mixed lead from Wall St and Asian markets, with the Dow Jones still weighed down by Boeing’s troubles (-6%) as more airlines and authorities suspend 737 Max 8 flights. That said, the wider S&P was boosted by healthcare and utility names in a bout of defensive interest.

GBP is holding steady following PM May’s widely expected overnight Brexit defeat in Parliament, with markets now eyeing votes on 1) ruling out a No-Deal scenario and 2) extending Article 50. However, neither guarantees any Brexit breakthrough. As it stands, a hard Brexit remains the default.

In corporate news this morning;

Morrisons 2018 like-for-like sales ex-fuel/VAT +4.8% (Retail +1.5%, W’sale +3.3%); Q4/H2 slowed vs Q3/H1 (transactions -1%); adj. pre-tax profit +8.6% (statutory -15.8%), adj. free-cash flow +17.5% (statutory -24%); net pension surplus +15.8%; final div +7.2%, repeats 4p special; £700m wholesale target hit early. On-track for incremental profit target from wholesale/services/interest/online; net debt to stay low.

Hikma Pharma 2018 revenues +7%, core EBITDA +17%, core operating profit +19%, net debt -33.8%. Final div +13% (FY: +11.7%). Sees FY’19 Injectables revenues +2-8%, FX Branded constant growth mid-single digits, Generics +1% to -6% after price erosion.

Standard Life Aberdeen 2018 adj. pre-tax profit for continuing operations -1.5%; but gross inflows +3.9%, but net outflows +24.3% with Assets Under Mgt -9.3%. Final div unchanged. Ahead on cost efficiencies. Challenging market conditions

Dixons Carphone fined £29.1m by FCA over 2008-2015 Geek Squad mobile phone insurance selling. Accepts the short-falls, received discount for early settlement. FY guidance unchanged.

Provident Financial FY rev. flat, books £241.6m impairment for IFRS9 accounting. Adj. pre-tax profit +82.3%, reinstates div (10p/share). Trading in-line. Vanquis refund programme 99% complete and Moneybarn made progress with FCA to address issues. New Vanquis MD to join in April.

Balfour Beatty FY underlying revenue -5%, pre-tax profit +9.7%, order book +10.5%, dividend +33%. FY’19 in-line with expectations and trading environment favourable.

British American Tobacco subsidiary Imperial Tobacco Canada obtains creditor protection against all Canadian litigation (Quebec says liable for C$9.2bn). Protection offers opportunity to settle.

BAE Systems may react to a US Army 2020 budget plan to eliminate/scale back some well-known legacy equipment programs (incl. the Bradley fighting vehicle) to fund future weapons/hardware.

Capita confirms media speculation about unsolicited offer for travel business from Corporate Travel Management. Talks ongoing; no certainty of a deal.

Smith & Nephew acquires Brainlab’s orthopaedic joint reconstruction business which provides surgeons with digital workflow tools. Deal includes Brainlab’s orthopaedic salesforce.

Stobart FY trading in-line, Southend passengers +33%. To move to twice-yearly 3p/share dividend from quarterly pay-outs previously. HSBC issues 9yr $1bn in 3% resettable senior unsecured notes.

In focus today:

Another Brexit vote, this time on a no-deal Brexit, after the PM saw her deal voted down again last night. If a no-deal vote passes, we could be on for a hard Brexit. If it fails, Thursday will see another vote on extending Article 50. If this fails, we could still be on for a hard Brexit. If it passes, however, with EU approval we could delay Brexit and keep negotiating.

UK Chancellor Hammond may find his UK Spring Budget rather overshadowed even if he can boast improved public finances and a consultation on infrastructure funding to replace the axed Private Finance Initiative (PFI), abolished for not delivering value.

Macro data of interest: Eurozone Industrial Production (10am), forecast to rebound in Jan (1% MoM vs -0.9% in Dec), but still week annually (-2.1% YoY vs -4.2%). US Durable Goods Orders (12.30pm) are seen stable Ex-transport, much like Producer Price Inflation, while Construction spending (2pm) bounces ahead of EIA Oil stocks (2.30pm).

Speakers include the ECB’s Mersch (8.30am; “Panel: A cross-sectoral reflection on the past, and looking ahead to the future”) and Angeloni (8.45am; “The new economic scenarios for investors: markets, ECB & EU”), Coeure (5pm; Speech and student Q&A at Bocconi University, Milan).

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. 80% 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.
EXCELLENT

4.81 Average

156 Reviews

George

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 4 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 8 months ago

Anonymous

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 10 months ago

Shreekant P

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

Posted 10 months ago

Nick W

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

Posted 10 months 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 11 months 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 1 year 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 1 year 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 1 year ago

Steve O

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

Posted 1 year 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 1 year 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 1 year 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 1 year ago

Mr Brian C

Easy to deal with.....

Posted 1 year 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 1 year 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 1 year 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 1 year ago

.