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Morning Report - 20 March 2020

Yesterday’s FTSE100 Leaders Price (p) % Chg
M&G PLC 125.9 34.4%
CARNIVAL PLC 737.2 18.9%
TUI AG-DI 338.1 18.8%
ASHTEAD GROUP PLC 1,450.0 11.5%
Yesterday’s FTSE100 Laggards Price (p) % Chg
GLENCORE PLC 117.3 -9.0%
EVRAZ PLC 209.8 -9.0%
Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 5,152 1.4% -29.3%
DOW JONES INDUS. AVG 20,087 1.0% -22.0%
DAX INDEX 8,610 2.0% -27.0%
NIKKEI 225 16,553 -1.0% -23.4%
S&P/ASX 200 INDEX 4,817 0.7% -21.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 26.50 5.08%
Brent Crude (ICE) USD/bbl. 29.44 3.41%
Gold Spot USD/t oz. 1,505 2.3%
Copper (Comex) USd/lb. 220 0.5%
FTSE 100 called to open +190 points at 5345

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Markets Overview:


FTSE 100 called to open +190 points at 5345.  Asian stocks rose, U.S. stock futures came off earlier lows and the dollar halted an eight-day rally as investors took stock of stimulus measures, giving tentative signs of returning appetite for riskier assets. Gains in South Korea’s equity market topped 5% and shares in Hong Kong climbed about 2%, though a strong advance in Australia fizzled out.  The Nikkei closed 1% lower at 16,552, the Hang Sang however jumped by 4% to close at 22,612, the picture was also green in China as the CSI rose by 1.8% during trading to close at 3,653.  Oil continued climbing after its biggest ever single-day gain as U.S. President Donald Trump waded into the price war between Saudi Arabia and Russia that has rocked crude markets amid diminishing demand. Futures in New York increased as much as 5.7% following the biggest spike on record Thursday, rebounding from the lowest settlement since 2002.  Gold is heading for the first back-to-back weekly loss since September as the coronavirus crisis pummels appetite for risk and drives the dollar to an all-time high, with some investors selling the traditional haven to raise cash to navigate the extreme volatility shaking global markets. Bullion has erased its gains this year despite emergency rate cuts and asset-purchases.


Company News:


JD Wetherspoon reported that in the six weeks to 8 March 2020, like-for-like sales increased by 3.2% and total sales by 2.9%. In the following week, to 15 March, sales declined by 4.5%. In the early part of the current week, following the Prime Minister’s advice to avoid pubs, sales have declined at a significantly higher rate.  Revenue £933.0m (2019: £889.6m) +4.9% YoY.  Profit before tax £57.9m (2019: £50.3m) +15.2%.  Interim dividend – cancelled. (All figures accurate pre-IFRS 16)


Reporting Today:


JD Wetherspoon


In Focus Today:


CN – Bank Of China Interest Rate decision


Today’s Ex Dividends:


FTSE 100:


British Land

Royal Bank Of Scotland


British American Tobacco




FTSE 250:


Go-Ahead Group




BHP Group Upgraded to Buy by Deutsche Bank (Bloomberg: 11 Buys/ 13 Holds/ 4 Sells)


BHP Group Upgraded to overweight by J.P Morgan (Bloomberg: 9 Buys/ 14 Holds/ 3 Sells)


BP Downgraded to Equalweight/in-line by Morgan Stanley (Bloomberg: 15 Buys/ 10 Holds/ 2 Sells)


Centamin Upgraded to Buy by Peel Hunt (Bloomberg: 9 Buys/ 4 Holds/ 1 Sells)


John Wood Group Upgraded to Overweight by Barclays (Bloomberg: 14 Buys/ 4 Holds/ 0 Sells)


Kaz Minerals Downgraded to Hold by Deutsche Bank (Bloomberg: 15 Buys/ 8 Holds/ 1 Sells)


UDG Healthcare Upgraded to Outperform by Capital Markets (Bloomberg: 11 Buys/ 2 Holds/ 0 Sells)



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. 70.5% 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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