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 - 16 May 2019

Yesterday’s FTSE 100 Leaders Close (p) Chg (p) % Chg % YTD
Auto Trader Group PLC 591.4 21.8 3.8 30
Compass Group PLC 1778.5 50 2.9 7.8
DCC PLC 6886 166 2.5 15.1
Rightmove PLC 561.1 12 2.2 29.8
Halma PLC 1779.5 38 2.2 30.5
Yesterday’s FTSE 100 Laggards Close (p) Chg (p) % Chg % YTD
Kingfisher PLC 233 -8.8 -3.6 12.3
SSE PLC 1083 -28 -2.5 0.1
DS Smith PLC 330.6 -7.5 -2.2 10.5
Smurfit Kappa Group PLC 2167 -34 -1.5 4.1
National Grid PLC 842.8 -7.5 -0.9 10.3
Major World Indices Mid/Close Chg % Chg % YTD
UK FTSE 100 7,297.0 55.4 0.8 8.4
UK FTSE 250 19,369.8 2.4 0.0 10.7
FR CAC 40 5,374.3 32.9 0.6 13.6
DE DAX 30 12,099.6 108.0 0.9 14.6
US DJ Industrial Average 30 25,648.0 116.0 0.5 9.9
US Nasdaq Composite 7,822.2 87.7 1.1 17.9
US S&P 500 2,851.0 16.6 0.6 13.7
JP Nikkei 225 20,998.8 -189.8 -0.9 4.9
HK Hang Seng Index 50 28,308.6 39.9 0.1 9.5
AU S&P/ASX 200 6,313.2 29.0 0.5 11.8
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, West Texas Int. ($/barrel) 62.58 0.3 0.5 37.7
Crude Oil, Brent ($/barrel) 72.14 0.3 0.4 33.3
Gold ($/oz) 1297.03 1.5 0.1 1.1
Silver ($/oz) 14.76 0.1 0.6 -4.6
GBP/USD – US$ per £ 1.2848 0.0 0.8
EUR/USD – US$ per € 1.1209 0.0 -2.3
GBP/EUR – € per £ 1.1463 0.0 3.1
FTSE 100 called to open -37pts at 7261

FTSE 100: 2-months, 4 hourly

Click graph to enlarge

Markets Overview:

FTSE 100 called to open -37pts at 7260 (ex-dividends -23pts), back from overnight highs of 7311. Bulls require a break above 7280 to challenge the highs. Bears require a breach of 7245 overnight lows for a further retrace towards 7129. Watch levels: Bullish 7280, Bearish 7240

Calls for a negative open come as 3 of the top 5 companies in the FTSE 100 by market capitalization pay dividends today and PM May faces another call for resignation as well as a deadlock in Brexit negotiations with the opposition.

Asian markets mixed after Donald Trump announced banning Huawei telecom equipment but delaying implementation of auto tariffs on the EU and Japan for 6 months. US Markets up slightly as trade worries make room for optimism.

Gold ($1296) moving within a 0.6% descending range as trade tensions eae up and investors are slowly looking back towards currencies and equities. Brent Crude Oil ($72.4) keeps moving to the upside as Middle East tensions continue, stoking risk of supply disruptions. Copper ($2.73) keeps moving to the upside amidst trade war fears easing. GBP ($1.28) is at the lowest levels since February due to political infighting and a strengthening USD.

 

In corporate news this morning:

Lloyds to pay quarterly dividends from 2020; Q1-3 = 20% of prior year; Q4 = 80% announced with FY results; will continue to consider ways to return excess capital.

Scottish Mortgage Inv Trust reports full year NAV +14.6% (fair value; book value +14.4%), outperforming its FTSE All-World index benchmark (+10.7%).

3i Group FY total return -12.1% YoY (18% return vs 24% prev), NAV +12.5%, Operating expenses +4.1%, operating cash profit +318%, Gross Investment return 21% vs 27% prev, dividend -9% YoY. 2020 started like 2019, much uncertainty, remain cautious.

Micro Focus expects interim results in -ine, on a constant FX basis, with guidance given on 14 Feb (revenues -4 to +6%); collection of aged trade receivables has continued in line with expectations.

Burberry FY revenues flat (-1% at constant FX), in-line; revenues +2% ex-Beauty Wholesale;  adj operating profit -6%, bottom end of consensus range; Adj. EPS flat just above consensus. Confirms guidance for broadly stable revenue and adj. operating margin at CER in FY 2020; H2-weighted.

National Grid FY operating profit -18% (underlying -2%), pre-tax profit -31% (underlying -3%), EPS -57% (underlying +5%); final dividend +2.7%; RoE -50bp; Cadent sale expected by June with £2bn proceedsl; Asset growth on track for top end of 5-7% range in med-term.

Balfour Beatty on track to deliver performance in line with full year expectations.

Countryside Properties says H1 pre-tax profit slips 2.8% on higher costs on revenues +27%, but well placed to deliver on full year expectations. Order book +44%; interim div +42%;

Grainger H1 net rental income +33%, like-for-like rental growth +3.7%, pre-tax profit +7%; interim dividend +10%. Market portfolio +0.6%; in a strong position to deliver a good performance in H2 and a positive overall result. 

Premier Oil YTD production +14% to 85.1K boepd, increases FY guidance to 75-80K boepd. 2019 operating costs and capex guidance unchanged; Net debt reduced to $2.25B; forecast 2019 net debt reduction at upper end of $250-350m guidance, at current oil prices.

Just Group Q1 retirement income sales -59%, defined benefit sales -90%, GIFL sales -23%; Lifetime Mortgage advances -47%;  quiet start to year, but DB transaction volumes in Q2 been good.

 

In focus today:

US Housing Starts and Building permits (1.30pm) could further boost stateside market sentiment should they deliver the rebound consensus has pencilled in. A pick-up in the Philly Fed (1.30pm) has potential to do the same. Watch USD (and GBP) and US stocks.

Results from across the pond include NVIDIA (barometer of tech sentiment and economic growth?), Pinterest (another recent tech IPO), Walmart (anything more about an ASDA IPO?).

Elsewhere, a Eurogroup meeting could see comments about the Eurozone economy. We get speeches from ECB Chief Economist Praet (8:30am) and De Guindos (2.30pm), both at a conference “European Financial Integration and Stability – The International Role of the Euro”.

Bundesbank head and ECB member Weidmann (9.15am and 5.30pm), Coeure (7pm) and Bank of England’s Haskel (6.30pm) could also move their respective Euro and Sterling currencies.

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. 77% 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 6 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 10 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 1 year ago

Shreekant P

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

Posted 1 year ago

Nick W

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

Posted 1 year 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 1 year 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 2 years ago

Steve O

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

Posted 2 years 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 2 years 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 2 years 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 2 years ago

Mr Brian C

Easy to deal with.....

Posted 2 years 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 2 years 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 2 years 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 2 years ago

.