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Morning Report - 29 April 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
WPP PLC 991.2 4.2%
BP PLC 305.6 3.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
FRESNILLO PLC 852.0 -3.9%
AVEVA GROUP PLC 3573.0 -3.3%
SAINSBURY (J) PLC 235.6 -2.7%
BUNZL PLC 2296.0 -1.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,976 0.5% 17.0%
DOW JONES INDUS. AVG 33,886 -0.3% 40.6%
DAX INDEX 15,322 0.5% 41.6%
NIKKEI 225 29,054 0.2% 47.0%
S&P/ASX 200 INDEX 7,065 0.4% 31.0%


Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 63.99 1.67%
Brent Crude (ICE) USD/bbl. 67.45 1.55%
Gold Spot USD/t oz. 1,773 -0.2%
Copper (Comex) USd/lb. 448 -0.2%
UK 100 is called to open +14 points this morning at 6977.

1 Day; 7 Months

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Markets Overview:

UK 100 is called to open +14 points this morning at 6977. Calls for a positive open in the UK today come after last night’s US Federal Reserve meeting saw no real material changes.  It was a muted day in Wall Street yesterday, the Dow Jones dropped 164 points or 0.48% to close Wednesday’s session at 33,820. The S&P ended Wednesday down 0.08% at 4,183 whilst the Nasdaq dipped 0.28% at 14,051.  The picture was brighter in Asia overnight, In Japan the Nikkei gained 0.21% trading at 29,053 and Hong Kong’s Hang Seng was up 0.54% at 29,227. The Shanghai Composite was similarly up 0.21% at 3,464.



Company News & Broker Comments:


Company News:


British American Tobacco says they are confident in 2021 outlook of mid-single figure EPS growth.


BT are in talks to sell some or all of their television arm BT Sport amid interest from Dazn, Amazon and Walt Disney.


Flutter Entertainment report that their Q1 revenue increased 32% YoY to 1.5m.


Meggit report that their Q1 revenue fell 29% YoY.


Natwest returned to profit in Q1 2021 after joining rivals in releasing some of the cash it had set aside to cover expected bad loans due to the pandemic. They reported a pre-tax profit of £946m, ahead of average analyst forecasts of £536m (2020: £519m profit). Their profits were boosted by a net impairment release of £102m, where analysts had forecast an extra charge of £251m.


Royal Dutch Shell swings to a Q1 profit of $5.66bn in Q1, from a $24m loss YoY. They have increased their dividend per share by 4% to USD 0.1735.


Standard Chartered report that their Q1 pretax profit increased 59% YoY to $1.41bn.


Smith & Nephew reinstates FY21 outlook after Q1 revenue grows 12% to $1.26bn.


Unilever reported higher-than-expected underlying sales growth for Q1, buoyed by double-digit increases in India and China. Underlying sales rose 5.7%, beating the 3.9% analysts had expected.


WH Smith have warned of the possible risk of breaching its covenant tests in 2022 after they slumped to a H1 loss and launched a potential £325m bonds offering as the retailer navigates the COVID-19 crisis.

Broker Comments:


Barclays Downgrades Dixons Carphone to Equal weight from Overweight (4 Buys / 2 Holds / 2 Sells)



Reporting Today:



Natwest Group

Royal Dutch Shell


Smith & Nephew


Weir Group


Reporting Tomorrow:





In Focus Today:



German Harmonized Index of Consumer Prices

US Gross Domestic Product Annualized

German Unemployment Rate

Economic Bulletin

EU Consumer Confidence

EU Business Climate

US Initial Jobless Claims



Today’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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I have found Accendo staff very helpful,,and informed. I have traded with you for some years now and have no regrets. Keep up the good work!

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