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Morning Report - 30 July 2020

Wednesday’s UK 100 Leaders Price (p) % Chg
Next 5,666 67.68%
Smurfit Kappa Group 2,600 4.75%
Burberry Group 1,306.5 3.69%
JD Sports Fashion 622 2.81%
HSBC Holdings 362.3 2.56%
Wednesday’s UK 100 Laggards Price (p) % Chg
Taylor Wimpey 122.2 -8.09%
Barclays 105.02 -6.11%
Rolls Royce Holdings 253.1 -3.62%
Melrose Industries 94.04 -3.43%
Evraz 299.8 -3.38%


Major World Indices Price % Chg 1 Year
UK 100 INDEX 6,131 0.0% -20.2%
DOW JONES INDUS. AVG 26,540 0.6% -2.5%
DAX INDEX 12,822 -0.1% 3.3%
NIKKEI 225 22,397 -1.2% 3.2%
S&P/ASX 200 INDEX 6,006 -0.2% -12.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 41.28 0.58%
Brent Crude (ICE) USD/bbl. 43.79 1.32%
Gold Spot USD/t oz. 1,969 0.5%
Copper (Comex) USd/lb. 293 0.4%
UK 100 called to open +20 points this morning at 6151. 

1 hour; 2 Months

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Markets Overview:


UK 100 called to open +20 points this morning at 6151.  Calls for a positive open come as The federal reserve kept interest rates near zero to spur markets higher stateside yesterday, and Fed Chair Powell reiterated his promise to provide support until the threat of the Coronavirus to the U.S. economy has passed.  The Dow Jones ended 160.29 points higher, or 0.6%, at 26,539.57 but lagged behind both the S&P 500 adding 40 points, or 1.2%, to close at 3,258.44 & The Nasdaq which climbed 140.85 points, or 1.4%, ending at 10,542.94.  In Asia, Japan’s Nikkei traded 0.13% lower at 22,367 whilst Hong Kong’s Hang Seng moved positively, trading up 0.8% at 25,078. The Shanghai Composite was higher at 3,298.  Brent Crude oil trades at $43.68 per barrel, up 1.06%, while gold is currently changing hands at $1,959 per ounce, down 0.51%


Company News:


AstraZeneca tops forecasts on strong drug sales for Q2 2020, whilst outlook for FY 2020 is unchanged. Product sales +9% to $6.05bn ($6.01bn expected), whilst total revenue rose +11%.


BAE Systems guides to slightly lower earnings in 2020 due to COVID-19 working practices, but said demand for its products was high and it would restart dividend payments. They reported a 15% drop in underlying EPS to 18.7p and the dividend would total 23.2p (13.8p paid in September, plus an interim dividend of 9.4p).


Evraz says Q2 steel output falls 5.1% q/q to 3.4m tonnes.


Kaz Minerals reports that H1 2020 Copper production was up +4%, whilst Gold production increased +25%. They state that all metals are currently on track to achieve FY production guidance, but COVID-19 risks are elevated for H2 2020.


Lloyds have reported a pre-tax loss in H1 2020 of £602m after setting aside a bigger than expected £2.4bn (£1.5bn expected) in second quarter provision to cover a potential hike in bad loans due to the coronavirus. The fresh charge pushed Lloyds’ provisions for H1 2020 to £3.8bn. They’ve stated that the economic outlook has become more challenging.


Royal Dutch Shell reports that quarterly income to shareholders came in at a loss of $18.1bn, which included an impairment charge of $16.8bn. They state the coronavirus has impacted business and is expected to negatively impact demand for oil, gas and related products.


Standard Chartered posted a 33% fall in H1 2020 profit as the bank boosted its credit impairment charges by six-fold as a result of the COVID-19 pandemic and economic downturn.



Reporting Today:



BAE Systems


Rentokil International



Royal Dutch Shell


Lloyds Banking Group


Reporting Friday:



Natwest Group


In Focus Today:



Eurozone – Business Climate

Eurozone – Unemployment

German – Harmonised Index Of Consumer Prices

US – Initial Jobless Claims



Today’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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