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Morning Report - 28 April 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
EXPERIAN PLC 2,796.0 1.9%
ENTAIN PLC 1,724.5 1.4%
BT GROUP PLC 158.6 1.3%


Yesterday’s UK 100 Laggards Price (p) % Chg
AVEVA GROUP PLC 3695.0 -5.4%
BUNZL PLC 2341.0 -4.4%
WHITBREAD PLC 3297.0 -3.3%


Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,945 -0.3% 18.8%
DOW JONES INDUS. AVG 33,985 0.0% 40.8%
DAX INDEX 15,249 -0.3% 43.1%
NIKKEI 225 28,992 -0.5% 46.6%
S&P/ASX 200 INDEX 7,034 -0.2% 32.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 63.21 2.10%
Brent Crude (ICE) USD/bbl. 66.73 1.65%
Gold Spot USD/t oz. 1,776 -0.3%
Copper (Comex) USd/lb. 448 0.9%


UK 100 is called to open +17 points this morning at 6961

1 Day; 7 Months

Click graph to enlarge

Markets Overview:

UK 100 is called to open +17 points this morning at 6961. The UK blue-chip index is set to gain in early trading today as investors look to yesterday’s results stateside as an indicator for sentiment. It was equally positive in Asia overnight, with Japan’s Nikkei rising 0.37% while Hong Kong’s Hang Seng was up 0.21%. Stateside yesterday we saw a mixed bag of outcomes, The S&P 500 edged up 0.1% thanks to some late buying and the Dow Jones ended higher, similarly by 0.1%, lifted by price moves in McDonald’s and Goldman Sachs.  The Nasdaq however lagged behind in the face of higher yields, giving up 0.3%.  In focus today will be the Federal Reserve interest decision in the US.



Company News & Broker Comments:


Company News:


Dixons Carphone report that their online sales of electrical goods have more than doubled during their FY and given its strong financial position, have decided to pay back government furlough money.


Fresnillo Q1 silver production was down 2.4% QoQ to 12.6m oz.


Lloyds reported better than expected profits of £1.9bn for Q1 2021, compared to average analyst estimates of £1.1bn (2020: £74m profit). Their profits were boosted by the release of £459m of its provisions for expected bad loans due to the pandemic. This was their CEO Horta-Osorio’s last set of results before leaving to become chairman of Credit Suisse. HSBC executive Charlie Nunn is set to join Lloyds as CEO in August.


LSE reported a 3.9% rise in total income in Q1 as it continued to integrate its $27bn acquisition of data analytics company Refinitiv.


Mulberry says online sales are strong and reports continued growth in Asian markets as they are to outperform forecasts in FY and post a small underlying pretax profit.


Persimmon state that they are experiencing good demand for newly built homes across the UK and its forward sales are strong, as the housing sector reaps benefits from a slew of government measures and low interest rates. Their year-to-date forward sales position stood at £3bn (2020: £2.4bn).


Reckitt Benckiser reported a higher-than-expected jump in quarterly sales as households kept up their heightened cleaning regimens a year into the COVID-19 pandemic. They reported a 4.1% rise in like-for-like sales, higher than the 2.4% growth analysts had expected.


Sainsbury’s reported a 39% fall in FY underlying profit as strong food sales during the COVID-19 pandemic were outweighed by extra costs and a decision to forgo business rates relief. They reported an underlying pre-tax profit of £356m in the year to March 6th, which was in line with guidance.


WPP reiterates 2021 guidance after “strong start” to the year and growth in all business lines.

Broker Comments:


Goldman Sachs Downgrades IMI to Buy from Conviction Buy (6 Buys / 7 Holds / 0 Sells)



Reporting Today:




London Stock Exchange Group



J Sainsbury

WPP Group


Reporting Tomorrow:



Natwest Group

Royal Dutch Shell


Smith & Nephew


Weir Group


In Focus Today:



Fed Interest Rate Decision

FOMC Press Conference

Japanese Retail Trade



Tomorrow’s Ex Dividends:


UK 100:




London Stock Exchange Group


UK 250:


John Laing Group

Morgan Sindall Group

Foresight Solar Fund

Coats Group

Derwent London

Sanne Group

City of London Investment Trust

Morgan Advanced Materials

HgCapital Trust

Bankers Investment Trust



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. 76% 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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Shaun D

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