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Morning Report - 23 March 2020

Yesterday’s UK 100 Leaders Price (p) % Chg
CARNIVAL PLC 885.8 20.2%
JD SPORTS FASHION PLC 379.2 18.7%
EASYJET PLC 600.0 18.3%
INTERCONTINENTAL HOTELS GROU 2,754.0 15.5%
AVEVA GROUP PLC 3,360.0 14.4%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
M&G PLC 110.6 -12.2%
AUTO TRADER GROUP PLC 377.2 -11.8%
RIGHTMOVE PLC 420.9 -11.4%
SCHRODERS PLC 2350.0 -8.0%
UNITED UTILITIES GROUP PLC 806.4 -7.9%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 5,191 0.8% -28.0%
DOW JONES INDUS. AVG 19,174 -4.6% -24.8%
DAX INDEX 8,929 3.7% -21.4%
NIKKEI 225 16,888 2.0% -21.9%
S&P/ASX 200 INDEX 4,546 -5.6% -26.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 22.85 0.97%
Brent Crude (ICE) USD/bbl. 26.23 -2.78%
Gold Spot USD/t oz. 1,487 -0.8%
Copper (Comex) USd/lb. 207 -4.7%
UK 100 called to open -250 points at 4940.

5 Minutes; 5 Days

Click graph to enlarge

Markets Overview:

 

UK 100 called to open -250 points at 4940.  U.S. and European equity futures tumbled along with equity futures after a surge in the global death toll from the coronavirus and a failure by Congress to agree on an aid plan. S&P 500 futures dropped 5% and hit limit down early on, though came off its lows.  Gold dropped again as investors buckled in for yet another volatile week, with the dollar extending its record-setting ascent after the global death toll from the pandemic surged and governments battled to address the mounting crisis with ever-more Draconian measures. The traditional haven has been struggling for grip amid the turmoil, with many investors.  Oil dropped toward the lowest level since 2003 as prospects for a deal between OPEC and Texas to limit production appeared to fade, while a U.S. coronavirus rescue package ran into political delays. Futures in London fell around 3% to near $26 a barrel, while West Texas Intermediate rose after the April contract expired Friday.

 

Company News:

 

Aggreko have announced that given the continued uncertainty, they do not believe it is possible to retain the Group’s 2020 guidance as communicated at their FY results on 3rd March.

 

Associated British Foods state that its Primark stores closure represents a loss of £650m of net sales per month.

 

First Group announce due to COVID-19 and the changes it has had on its business, that they are no longer able to provide guidance on the outturn for the remainder of the financial year.

 

Pearson have decided to pause their share buy-back programme in the face of COVID-19 uncertainty.

 

Reporting Today:

 

Pennon

 

Reporting Tomorrow:

 

888 Holdings

Aliance Pharma

Barr (A.G)

Fevertree

Kingfisher

 

In Focus Today:

 

EU – Consumer Confidence

US – Chicago Fed National Activity Index

 

This Week’s Ex Dividends:

 

UK 100 :

 

British Land

Royal Bank Of Scotland

Pearson

British American Tobacco

Schroders

Prudential

 

:

 

Go-Ahead Group

 

Upgrades/Downgrades:

 

Anglo American Upgraded to Buy by Resistance Capital (Bloomberg: 11 Buys/ 12 Holds/ 1 Sells)

 

Bunzl Upgraded to Equalweight/in-line by Morgan Stanley (Bloomberg: 8 Buys/ 4 Holds/ 4 Sells)

 

DCC Downgraded to Equalweight/in-line by Morgan Stanley (Bloomberg: 11 Buys/ 3 Holds/ 0 Sells)

 

Flutter Entertainment Upgraded to Hold by HSBC (Bloomberg: 5 Buys/ 8 Holds/ 2 Sells)

 

Intercontinental Hotels Group Upgraded to Equalweight/Cautious by Morgan Stanley (Bloomberg: 7 Buys/ 8 Holds/ 7 Sells)

 

Pearson Upgraded to Equalweight by Barclays (Bloomberg: 4 Buys/ 9 Holds/ 6 Sells)

 

Petra Diamonds Downgraded to Market Perform by BMO Capital Markets (Bloomberg: 4 Buys/ 8 Holds/ 1 Sells)

 

Premier Oil Downgraded to Hold by Numis Securities (Bloomberg: 7 Buys/ 7 Holds/ 0 Sells)

 

Weir Group Downgraded to Hold by Deutsche Bank (Bloomberg: 8 Buys/ 14 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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