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Morning Report - 27 March 2020

Yesterday’s UK 100 Leaders Price (p) % Chg
HIKMA PHARMACEUTICALS PLC 1,964.0 5.1%
SAINSBURY (J) PLC 210.0 2.1%
SMITH & NEPHEW PLC 1,427.5 1.8%
UNITED UTILITIES GROUP PLC 898.0 0.9%
BUNZL PLC 1,513.5 0.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
CARNIVAL PLC 981.6 -20.5%
FLUTTER ENTERTAINMENT PLC 6550.0 -11.6%
NEXT PLC 4008.0 -11.1%
PERSIMMON PLC 1850.0 -11.0%
ROYAL DUTCH SHELL PLC-B SHS 1230.6 -10.4%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 5,510 -5.3% -24.3%
DOW JONES INDUS. AVG 21,637 -4.1% -16.6%
DAX INDEX 9,633 -3.7% -16.4%
NIKKEI 225 19,085 -1.6% -10.0%
S&P/ASX 200 INDEX 5,181 7.0% -16.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 20.66 -3.95%
Brent Crude (ICE) USD/bbl. 23.51 -5.70%
Gold Spot USD/t oz. 1,616 -0.8%
Copper (Comex) USd/lb. 216 -0.6%

 

UK 100 called to open +5 points at 5515.

1 hour; 14 days

Click graph to enlarge

Markets Overview:

 

UK 100 called to open +5 points at 5515. U.S. stock futures erased losses, as traders reacted to China’s rate cut on seven-day reverse repurchase agreements on Monday. As part of the stimulus, the People’s Bank of China injected 50 billion yuan ($7.1 billion) into the banking system.  This saw the Nikkei recovery to fall just 1.57% on the day, having a at point been down 4% during the session.  It was a similar story in Hong Kong, seeing the Hang Seng falling just 1% having also recovered during trading.  Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus of crude. Futures in London fell as much as 7.6% to the lowest since November 2002, while New York crude briefly dipped below $20 a barrel.

 

Company News:

 

AstraZeneca annouce that its drug Imfinzi has been approved in the US for extensive-stage small cell lung cancer treatment. Astra also announce that the Farxiga phase III trial will be stopped early after overwhelming efficacy in patients with chronic kidney disease.

 

Bank of Ireland has withdrawn its proposed dividend for the year of 17.5 cents per share. The earliest reassessment of this would be in October 2020.

 

EasyJet have announced that they have grounded their entire fleet of aircraft as of today after completing the last of its repatriation flights yesterday in the face of the COVID-19 travel restrictions enforced by countries across the world.

 

Johnson Matthey report that they were on track to deliver results in line with market expectations before the COVID-19 outbreak. They state that impact of the virus will be around £50m on trading performance. They now expect to deliver group operating performance below market expectations for 2020.

 

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:

 

GER – German Harmonised Index of Consumer Prices

US – Pending Home Sales Data

UK – GFK Consumer Confidence

 

This Week’s Ex Dividends:

 

UK 100 :

 

Smith & Nephew

Mondi

Melrose

Phoenix Group Holdings

Standard Life Aberdeen

 

:

 

Chemring Group

Moneysupermarket

Provident Financial

IMI

Man Group

ConvaTec Group

CLS Holdings

TP ICAP

Quilter

Softcat

 

Upgrades/Downgrades:

 

Associate British Foods Downgraded to Underperform by RBC Capital Markets (Bloomberg: 14 Buys/ 4 Holds/ 3 Sells)

 

Cineworld Downgraded to Neutral by J.P. Morgan (Bloomberg: 5 Buys/ 4 Holds/ 0 Sells)

 

Cranswick Upgraded to Buy by Peel Hunt (Bloomberg: 10 Buys/ 0 Holds/ 0 Sells)

 

Dixons Carphone Downgraded to Underperform by RBC Capital Markets (Bloomberg: 6 Buys/ 5 Holds/ 1 Sells)

 

Gamma Communications Upgraded to Buy by Peel Hunt (Bloomberg: 5 Buys/ 2 Holds/ 0 Sells)

 

IWG Upgraded to Outperform by RBC Capital Markets (Bloomberg: 7 Buys/ 2 Holds/ 0 Sells)

 

Rentokil Upgraded to Outperform by RBC Capital Markets (Bloomberg: 6 Buys/ 6 Holds/ 3 Sells)

 

RPS Group Downgraded to Sector perform by RBC Capital Markets (Bloomberg: 2 Buys/ 1 Holds/ 0 Sells)

 

Smith & Nephew Downgraded to Market perform by RBC Capital Markets (Bloomberg: 7 Buys/ 7 Holds/ 2 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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