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Morning Report - 24 March 2020

Yesterday’s FTSE100 Leaders Price (p) % Chg
ROYAL DUTCH SHELL PLC-A SHS 1,127.4 6.1%
M&G PLC 116.8 5.6%
FRESNILLO PLC 620.0 4.1%
ROYAL DUTCH SHELL PLC-B SHS 1,067.6 3.3%
WHITBREAD PLC 2,393.0 2.2%
Yesterday’s FTSE100 Laggards Price (p) % Chg
HARGREAVES LANSDOWN PLC 1158.0 -17.1%
EASYJET PLC 521.4 -13.1%
ST JAMES’S PLACE PLC 660.0 -12.6%
MELROSE INDUSTRIES PLC 87.3 -12.3%
FERGUSON PLC 4086.0 -12.2%

 

Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 4,994 -3.8% -30.7%
DOW JONES INDUS. AVG 18,592 -3.0% -27.1%
DAX INDEX 8,741 -2.1% -23.1%
NIKKEI 225 18,092 7.1% -16.4%
S&P/ASX 200 INDEX 4,736 4.2% -23.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 24.51 4.92%
Brent Crude (ICE) USD/bbl. 28.06 3.81%
Gold Spot USD/t oz. 1,572 1.2%
Copper (Comex) USd/lb. 214 1.9%
FTSE 100 called to open +200 points at 5193

5 Minutes; 5 Days

Click graph to enlarge

Markets Overview:

 

FTSE 100 called to open +200 points at 5193.  U.S. futures and Asian stocks climbed on Tuesday after global equities hit their lowest level since 2016, the dollar snapped a 10-day rally and Treasuries dipped as appetite for riskier assets revived. Contracts on the S&P 500 rose about 4% at one point, more than making up what the index lost on Monday. Benchmarks in Tokyo, Hong Kong and Sydney climbed, seeing the Nikkei rise over 7% to trade at 18,092 & the Hang Seng gain 4.5% to trade at 22,670.  The U.K. is in lock down after Boris Johnson ordered sweeping measures to stop people leaving their homes “at this moment of national emergency.” As the coronavirus pandemic spread across the country, the prime minister approved a radical ban on all unnecessary movement of people for at least three weeks.   Oil rallied for a second day after the Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy, while investors clung to hopes of a U.S.-Saudi Arabian deal to limit output. Futures in New York rose around 5% past $24 a barrel, following gains on Monday as the U.S. central bank said it would buy unlimited amounts of Treasury

 

Company News:

 

Dunelm has cancelled its interim dividend due in April (7.5p).

 

Mulberry states that in their previous guidance they expected to be profitable and cash generative in H2 2020. However, as a result of COVID-19 the board now expects to make a small loss in the period.

 

Rio Tinto announces it will curtail production. All mining operations at Richard’s Bay Minerals in South Africa will be halted from Thursday for 21 days. They will also slow down activity in Quebec, Canada due to Government directives to stem the spread of COVID-19.

 

Reporting Today:

 

FCA has asked UK companies to delay results

for at least two weeks to prevent investors acting on out-of-date information

 

Reporting Tomorrow:

 

FCA has asked UK companies to delay results

for at least two weeks to prevent investors acting on out-of-date information

 

In Focus Today:

 

EU – Markit PMI Composite

GER – Markit PMI Composite

UK – Markit PMI Composite

US – Markit PMI Composite

 

This Week’s Ex Dividends:

 

FTSE 100:

 

British Land

Royal Bank Of Scotland

Pearson

British American Tobacco

Schroders

Prudential

 

FTSE 250:

 

Go-Ahead Group

 

Upgrades/Downgrades:

 

3i Group Downgraded to Sell by Day by Day (Bloomberg: 5 Buys/ 1 Holds/ 0 Sells)

 

Aveva Upgraded to Buy by Stifel (Bloomberg: 4 Buys/ 9 Holds/ 2 Sells)

 

Ferguson Upgraded to Buy by Morningstar (Bloomberg: 13 Buys/ 9 Holds/ 3 Sells)

 

HSBC Downgraded to Sell by Societe Generale (Bloomberg: 9 Buys/ 8 Holds/ 11 Sells)

 

Johnson Matthey Upgraded to Neutral by J.P. Morgan (Bloomberg: 10 Buys/ 4 Holds/ 5 Sells)

 

Ocado Upgraded to Buy by Morningstar (Bloomberg: 7 Buys/ 6 Holds/ 6 Sells)

 

Pearson Downgraded to Reduce by AlphaValue (Bloomberg: 3 Buys/ 9 Holds/ 7 Sells)

 

National Grid Upgraded to Hold by Morningstar (Bloomberg: 13 Buys/ 7 Holds/ 0 Sells)

 

SSE Upgraded to Buy by Morningstar (Bloomberg: 10 Buys/ 9 Holds/ 0 Sells)

 

Sainsbury Upgraded to Hold by HSBC (Bloomberg: 12 Buys/ 5 Holds/ 2 Sells)

 

Tesco Upgraded to Buy by HSBC (Bloomberg: 12 Buys/ 2 Holds/ 3 Sells)

 

Tui Downgraded to Hold by HSBC (Bloomberg: 2 Buys/ 11 Holds/ 8 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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