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Morning Report - 15 January 2020

Yesterday’s FTSE100 Leaders Price (p) % Chg
NMC HEALTH PLC 1,385.0 10.2%
CENTRICA PLC 89.7 2.5%
PERSIMMON PLC 2,796.0 2.2%


Yesterday’s FTSE100 Laggards Price (p) % Chg
EVRAZ PLC 395.1 -4.2%
PEARSON PLC 605.0 -3.3%
MONDI PLC 1630.0 -2.6%
WPP PLC 1039.5 -2.2%
DS SMITH PLC 367.6 -2.2%


Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 7,622 0.1% 10.6%
DOW JONES INDUS. AVG 28,940 0.1% 20.3%
DAX INDEX 13,456 0.0% 23.6%
NIKKEI 225 23,917 -0.5% 16.4%
S&P/ASX 200 INDEX 6,995 0.5% 20.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 58.09 -0.24%
Brent Crude (ICE) USD/bbl. 64.36 -0.20%
Gold Spot USD/t oz. 1,552 0.3%
Copper (Comex) USd/lb. 285 -0.8%
FTSE 100 called to open flat at 7620

FTSE 100: 1 hours, 4 Months

Click graph to enlarge

Markets Overview:


FTSE 100 called to open flat at 7620; on the back of the first decline in Asian trading in five sessions on Wednesday as traders mulled signs that U.S.-China tensions will extend beyond the scheduled signing of a phase-one trade deal. U.S. equity futures fell, along with shares across most of Asia, after reports that a swathe of tariffs on China will stay in place until after November. The Nikkei closed at 23,916 (-108 points) & The Hang Seng closed at 28,732 (-152 points). Trading in the US yesterday saw the Dow Jones once more rally to all time highs during the session before practically paring gains by the close, trading at 28,939 (+32 points), the S&P traded similarly, closing at 3,283 (-5 points), the Nasdaq also followed this pattern, closing at 9,251 (-22 points). Crude oil edged ever closer to $65 a barrel once more, trading at $64.98 at time of writing, whilst gold once more caught a bid, trading at $1552.


In corporate news this morning:


Diploma reported a positive start to the year with overall trading in line with expectations. Reported Group revenues in the first quarter ended 31 December 2019 +9% over the comparable period.  At constant exchange rates, Group revenues +11%, with acquisitions completed last year contributing 9% and underlying growth of 2%. The Group’s operating margin in the first quarter remained in line with expectations.


Persimmon reported revenues for the year of £3.65bn, -2.4% reduction on the prior year (2018: £3.74bn). New housing revenues -3.5% to £3.42bn (2018: £3.55bn). New home legal completion volumes were 15,855 (2018: 16,449). Average selling price of c.£215,700 was in line with last year (2018: £215,563). This performance reflects the continued strength of the Group’s Westbury Partnerships business.


SSE is completing today the sale of SSE Energy Services Group (It’s household energy and services business in GB) to OVO Energy for £500m. 


Tullow Oil expects to report a $1.5 billion writedown after lowering its long-term oil price assumptions by $10 to $65 a barrel, coupled with a reduction in reserves in Ghana and disappointing exploration wells. 


Vistry released results this morning for the business operating as Bovis homes, delivering another record year of profits, slightly ahead of market consensus.  A Significant step up in average weekly sales rate to 0.58 for 2019. Controlled period end with total completions up 3% to 3,867. Operating margin progression despite backdrop of market uncertainty.  Home Builders Federation Customer Satisfaction score of above 90% for Q3, equivalent to 5-star rating



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


Reporting Today:



Tullow oil

Genel energy



Reporting Tomorrow:


Associated British Foods (ABF)

Dechra Pharmaceuticals



John Wood





Royal bank of Scotland downgraded to underweight by Barclays (Bloomberg: 7 Buys/ 13 Holds/ 4 Sells)


Intertek Group downgraded to sell by Goldman Sachs (Bloomberg: 3 Buys/ 6 Holds/ 11 Sells)


Shaftesbury PLC downgraded to underperform by Jefferies (Bloomberg: 0 Buys/ 8 Holds/ 5 Sells)


Royal Dutch Shell Upgraded to Buy by Berenberg (Bloomberg: 17 Buys/ 7 Holds/ 2 Sells)



In Focus Today:


UK Consumer Price Index (CPI)


Eurozone industrial production


Tomorrow’s Ex Dividends:


FTSE 100:


SSE, Compass Group, Ashtead Group


FTSE 250:


Scottish Investment Trust, Shaftesbury, Future


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. 78% 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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