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Morning Report - 22 May 2020

Yesterday’s UK 100 Leaders Price (p) % Chg
INTERTEK GROUP PLC 5,238.0 7.6%
EASYJET PLC 574.8 4.4%
BT GROUP PLC 114.7 3.7%
INTL CONSOLIDATED AIRLINE-DI 206.1 3.7%
ROLLS-ROYCE HOLDINGS PLC 283.3 3.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
WHITBREAD PLC 2461.0 -13.4%
STANDARD CHARTERED PLC 391.5 -5.3%
LLOYDS BANKING GROUP PLC 28.4 -4.9%
FRESNILLO PLC 773.0 -4.2%
LEGAL & GENERAL GROUP PLC 185.7 -3.8%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 6,015 -0.9% -17.9%
DOW JONES INDUS. AVG 24,474 -0.4% -5.4%
DAX INDEX 11,066 -1.4% -8.9%
NIKKEI 225 20,552 -0.2% -3.4%
S&P/ASX 200 INDEX 5,550 -0.4% -14.8%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 33.91 1.25%
Brent Crude (ICE) USD/bbl. 36.04 0.81%
Gold Spot USD/t oz. 1,727 0.0%
Copper (Comex) USd/lb. 242 -1.5%

 

UK 100 called to open -70 points at 5945.

1 hour; 2 months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open -70 points at 5945.  Calls for a negative open come after China failed to set an economic growth target for 2020, sparking concerns that the fallout from the coronavirus pandemic, sparking oil prices to plummet, Brent crude was trading down $1.38, or 3.8 percent, at $34.68 a barrel by 0420 GMT, after falling as low as $33.54. West Texas Intermediate (WTI) crude dropped by $1.79, or 5.3 percent, to $32.13 a barrel, having slumped to $30.72 earlier. In Asia,  Hong Kong shares tumbled on Friday after Beijing moved to impose a new security law on the city after last year’s pro-democracy unrest, risking fresh protests and further straining fast-deteriorating US-China ties, this prompted the Hang Seng index fell 3.7 percent to a seven-week low, whilst Japan’s Nikkei slipped 0.25 percent.

 

Company News:

 

AstraZeneca announce their drug Enhertu granted Orphan Drug Designation in the US for gastric cancer.

 

Burberry reported a 27% drop in comparable sales in the final quarter of its year and warned that the luxury industry could take some time to recover from the COVID-19 pandemic. They said given the uncertain outlook, they have pulled their final dividend and would review future payouts at the end of its 2021 financial year.

 

United Utilities posts a 9% rise in FY profit of £743.9m, beating estimates (analysts average estimates £648.5m) but said it would review its dividend policy for the five-year pricing control period ending 2025 amid the COVID-19 crisis. They have proposed a final dividend of 28.4p, higher than last year’s payment of 27.52p.

 

Reporting Today:

 

Burberry Group

United Utilities

Close Brothers Group

 

Reporting Tuesday:

 

None

 

 

In Focus Today:

 

 

GER – Markit Services PMI

 

GER – Markit Services PMI

 

Next Week’s Ex Dividends:

 

UK 100 :

 

Imperial Brands

DCC

 

:

 

Hilton Food Group

Grainger

Great Portland Estates

 

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.


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