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Morning Report - 29 July 2020

Tuesday’s UK 100 Leaders Price (p) % Chg
Pearson 543.2 6.05%
Berkeley Group Holdings 4,694 4.99%
Barratt Developments 541 4.68%
Next 5,262 3.34%
Land Securities 549.8 3.31%
Tuesday’s UK 100 Laggards Price (p) % Chg
GVC 714.8 -2.27%
CRH 2,944 -1.90%
Spirax-Sarco Engineering 10,500 -1.82%
WPP 592.4 -1.76%
Halma 2,207 -1.69%


Major World Indices Price % Chg 1 Year
UK 100 INDEX 6,129 0.4% -18.8%
DOW JONES INDUS. AVG 26,379 -0.8% -3.0%
DAX INDEX 12,835 0.0% 3.3%
NIKKEI 225 22,657 -0.3% 4.8%
S&P/ASX 200 INDEX 6,021 -0.4% -11.4%


Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 40.95 -1.56%
Brent Crude (ICE) USD/bbl. 43.15 -0.60%
Gold Spot USD/t oz. 1,956 0.7%
Copper (Comex) USd/lb. 291 0.4%
UK 100 called to open -7 points this morning at 6130

1 hour; 2 Months

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Markets Overview:


UK 100 called to open -7 points this morning at 6130.  Major US indices yesterday followed European markets lower after UK Prime Minister Boris Johnson warned that there were “Signs of a second coronavirus wave in Europe” driving down investor sentiment.  This paired with investor frustration at the lack of notable progress with a fresh US Coronavirus aid package, however the Fed is expected to sound reassuringly accommodative at its policy review later today. This saw the Dow Jones eventually close 205 points lower at 26,379.  The S&P also closed lower by 0.7% at 3,218 and the Nasdaq completed an all round red day stateside, closing 1.3% lower at 10,403.  Today the Federal Reserve is set to conclude is two-day policy meeting, at which forward guidance will probably determine the next moves and the extension of several emergency lending facilities, fuelling anticipation of a particularly dovish tone.  The big winner yesterday, once again was gold, the previous metal and traditional safe haven once again, struck a record high level at the close of the session.


Company News:

Aston Martin losses grow as sales tumble after they report a pre-tax loss of £227m (2019: £80m loss).


Barclays has set aside a higher than expected £1.6bn (£1.42bn expected) to cover a possible rise in loan losses in Q2, as the economic impact of the coronavirus pandemic begins to bear down on its consumer business. They booked a pre-tax profit of £1.3bn for H1 2020 (2019: £3bn).


GSK and Sanofi have reached an agreement with Britain to supply it with up to 60 million doses of a potential COVID-19 vaccine.


Next sales in Q2 2020 declined by around 28%, a much better result than it expected at the height of the COVID-19 pandemic, allowing them to forecast a FY 2020 profit of around £195m.


Premier Foods sees strong start to Q2 2020 as sales jumped 22%, but they expect this trend to normalise through the quarter as people gradually return to eating out of home.


Rio Tinto reports that H1 2020 profit drops 4% but they’ve declared an interim ordinary dividend of $2.5bn, equivalent to 155 cents US per share and have reconfirmed their 2020 production guidance across all commodities.


Smith & Nephew reports that H1 2020 revenue fell 18.1% to $2.035bn as hospitals focus on critical care, delaying elective surgeries during the coronavirus crisis. Trading profit in H1 2020 fell to $172m (2019: $532m).


Taylor Wimpey predicts 40% drop in home completions this year as they reported a H1 2020 pretax loss of £39.8m (2019: £299.8m profit).


Tullow Oil sees impairment of up to $1.7bn on lower oil price outlook. They have $3bn in net debt and untapped liquidity with free cash of around $500m.



Reporting Today:


Aston Martin


Drax Group

Jupiter Fund Management


Rio Tinto

Smith & Nephew

Smurfit Kappa

Taylor Wimpey


Wizz Air

Lancashire Holdings


Premier Food


Reporting Thursday:




BAE Systems


Rentokil International



Royal Dutch Shell


Lloyds Banking Group


In Focus Today:


US – Pending Home Sales

US – Fed Interest Rate Decision


Tomorrow’s Ex Dividends:


UK 100:




UK 250:


Foresight Solar Fund

GCP Infrastructure Investments

BB Healthcare Trust

City of London Investment Trust

Monks 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. 78% 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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Shaun D

since signing up for Accendo I have had two traders, Mark and Sam. I have found both of these to be very informative about how CFD's work and they have made it very easy for me. Since working with Sam (last four months) my trading knowledge has improved and I can make more informative decisions about which Company's to invest with. Keep up the good work Sam.

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