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Morning Report - 29 May 2020

Yesterday’s UK100 Leaders Price (p) % Chg
M&G PLC 150.0 7.1%
BURBERRY GROUP PLC 1,583.5 7.0%
EVRAZ PLC 290.7 6.6%
MELROSE INDUSTRIES PLC 125.9 6.1%
BARRATT DEVELOPMENTS PLC 532.0 5.8%
Yesterday’s UK100 Laggards Price (p) % Chg
ROLLS-ROYCE HOLDINGS PLC 319.0 -7.8%
STANDARD CHARTERED PLC 392.1 -4.7%
MEGGITT PLC 295.0 -3.2%
HSBC HOLDINGS PLC 384.4 -3.1%
BRITISH LAND CO PLC 397.2 -2.7%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 6,219 1.2% -14.5%
DOW JONES INDUS. AVG 25,401 -0.6% 0.2%
DAX INDEX 11,781 1.1% -2.0%
NIKKEI 225 21,916 2.3% 4.4%
S&P/ASX 200 INDEX 5,851 1.3% -9.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 33.66 2.59%
Brent Crude (ICE) USD/bbl. 35.28 1.55%
Gold Spot USD/t oz. 1,719 0.0%
Copper (Comex) USd/lb. 241 1.1%

 

UK 100 called to open +45 points at 6172

4 hour; 2 months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open +45 points at 6172. UK 100 set to take a step back as US-China tensions rise. After US markets turned south last night, UK equities are set to open lower on Friday ahead of a president Trump press conference today on China.  Asia-Pacific trading today saw Hong Kong’s Hang Seng fall 1.3 percent. Australia’s S&P/ASX 200 dropped 1.2 percent and Japan’s Topix index shed 0.3 percent. Overnight, Wall Street’s S&P 500 index reversed gains of 1 percent to close down 0.2 percent. The drop came after US President Donald Trump said he would hold a news conference regarding China on Friday after Beijing agreed the new legislation.

 

Company News:

 

AstraZeneca‘s top-selling drug Tagrisso has been been shown to hold back a certain type of lung cancer when diagnosed at an early stage, potentially adding billions to its sales potential.

 

NMC Health‘s joint administrators said that the most likely exit option for the company was either dissolution or liquidation.

 

SIG plans to raise £150m in new equity with U.S. buyout firm Clayton, Dubilier & Rice (CD&R) as it pointed to a bleak outlook after ‘disappointing’ results. They have scrapped their dividend and envisaged a £500m hit to 2020 revenues, and the share sales is ecpected to result in a 25% shareholding by CD&R.

 

Reporting Today:

 

None 

 

Reporting Tomorrow:

 

Hollywood Bowl

 

In Focus Today:

 

EU – Consumer Price Index

 

US – Michigan Consumer Sentiment

 

Next Week’s Ex Dividends:

 

UK 100:

 

Scottish Mortgage IT

 

UK 250:

 

ContourGlobal

HICL Infrastructure

Alliance Trust

AJ Bell

 

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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