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Morning Report - 14 August 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
GLENCORE PLC 236.2 2.3%
MONDI PLC 1,627.0 2.2%
Yesterday’s FTSE100 Laggards Price (p) % Chg
NEXT PLC 5848.0 -2.0%
SCHRODERS PLC 2738.0 -1.8%
Major World Indices Price % Chg 1 YEAR
FTSE 100 INDEX 7,251 0.3% -4.7%
DOW JONES INDUS. AVG 26,280 1.4% 3.9%
DAX INDEX 11,750 0.6% -4.9%
NIKKEI 225 20,655 1.0% -7.6%
S&P/ASX 200 INDEX 6,596 0.4% 4.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 56.49 -1.07%
Brent Crude (ICE) USD/bbl. 60.85 -0.73%
Gold Spot USD/t oz. 1,502 0.0%
Copper (Comex) USd/lb. 262 -0.6%


FTSE 100 called to open +30 points at 7280

FTSE 100: 1 hour, 8 days

Click graph to enlarge

Markets Overview:

FTSE 100 called to open +30 points at 7280; A continuation of yesterday’s later afternoon rally continued on the FTSE during overnight trading, news that the US planned to delay imposing tariffs on Chinese exports (mainly technology based) was enough to see the Dow Jones take off (ending the day +400 points) like a rocket ship yesterday afternoon, seeing global bourses light up like a Christmas tree!  This boost was matched in overnight Asian sessions, now posing the question, was this just another Trump dump rally? Oil jumped around 3% on the back of yesterday’s news to settle at $60 a barrel, as gold was the big loser on the day, with risk on attitude back On, falling from $1528 as much as $50 per ounce before settling at $1500.


In corporate news this morning:

Admiral announced continued growth, seeing turnover +6%; customer numbers +8%; pre tax profits +0.9%; Profit growth +£7.7m (After impact of Ogden rate impact); EPS +2%.  Concerns surrounding Brexit may impact future outlook.  


AstraZeneca have announced that the Lynparza Phase III PAOLA-1 trial met primary endpoint as 1st-line maintenance treatment for advanced ovarian cancer. It significantly increased the time women lived without disease progression.

AstraZeneca also announced calquence granted US breakthrough therapy designation for chronic lymphocytic leukaemia, with designation based on positive results from two Phase III trials. 

Balfour Beatty on track to deliver full year performance in line with market expectations.  Profit from operations +9%; Av net cash +44.5%; Order book +5%; Interim dividend +31%.

Hochschild announces H1 2019 EBITDA of $153.7m ($372.3m in 2018). Profit before tax of $29.5m ($38.6m in 2018). Interim dividend of 2 cents per share. On track to deliver overall 2019 production target of 457,000 Gold ounces. 

Sports Direct have received notice from their auditors Grant Thornton that they intend not to seek reappointment as the companies auditors and will cease their auditing responsibilities from 11 Sept 2019. 

Standard Life Aberdeen announced the sale of shares in HDFC life insurance company. They’ve received £374m (net of taxes and expenses) from the sale.

Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal



RBS Downgraded to Neutral by Neutral (Bloomberg: 15 Buys / 8 Holds / 3 Sells)

Hammerson Upgraded to Neutral by Kempen & Co (Bloomberg: 9 Buys/ 8 Holds/ 4 Sells)


In focus today:

UK CPI (9.30am)

German GDP (10am)

Eurozone GDP (10am)


Company reporting day reaction:

Admiral, Prudential, Balfour Beatty, Hochschild Mining


Companies reporting this week:

Kaz Minerals, GVC holdings

(Full list available on Week in advance)


This Week’s Ex-Dividend payers:

Royal Bank of Scotland – 6.85%

Evraz – 4.73%

Phoenix – 3.47%

Anglo American – 2.85%



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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