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Morning Report - 31 July 2020

Thursday’s UK 100 Leaders Price (p) % Chg
BAE 505 5.89%
Rentokil Initial 557.6 1.68%
Astrazeneca 8,751 1.58%
Flutter Entertainment 11,730 1.25%
Hikma Pharmaceuticals 2,150 1.03%
Thursday’s UK 100 Laggards Price (p) % Chg
Lloyds 26.2 -7.62%
Standard Chartered 394.1 -6.23%
Legal & General 211.2 -6.09%
Royal Dutch Shell B 1,113.8 -5.72%
Royal Dutch Shell A 1,158.8 -3.38%


Major World Indices Price % Chg 1 Year
UK 100 INDEX 5,990 -2.3% -21.1%
DOW JONES INDUS. AVG 26,314 -0.9% -2.1%
DAX INDEX 12,380 -3.5% 1.6%
NIKKEI 225 22,339 -0.3% 3.8%
S&P/ASX 200 INDEX 6,051 0.7% -11.2%


Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 40.43 1.28%
Brent Crude (ICE) USD/bbl. 42.94 -1.85%
Gold Spot USD/t oz. 1,957 0.0%
Copper (Comex) USd/lb. 292 0.2%
UK 100 called to open +25 points this morning at 6017.

1 hour; 29 days

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Markets Overview:


UK 100 called to open +25 points this morning at 6017.  Calls for a positive open come after yesterday saw the Dow Jones slide 225.92 points, or 0.8%, to end the day at 26,313.65. The S&P 500 dipped 0.4% to 3,246.22. The Nasdaq however outperformed, rising 0.4% to 10,587.81.  The catalyst for the fall came as data from the U.S. government released Thursday showed GDP had fallen by a record 32.9% in Q2. The number, however was not as bad as feared, as economists surveyed by Dow Jones had expected a 34.7% decline.  This paired with continuing jobless claims,  totalling 17.018 million, up from about 16 million last week saw investor sentiment fall.


Company News:


British American Tobacco reports that H1 2020 profit tops estimates on market demand, as they sold more high-priced cigarettes and saw strong demand for vaping products in the USA. They reported EPS of 157.8p, higher than analysts forecast of 154.5p. Total revenue rose 0.8% to £12.27bn, slightly above analysts expectations of £12.2bn.


BT report that Q1 revenue and earnings have fallen 7% due to the impact of COVID-19 pandemic affecting BT Sport television revenue and reducing demand from business customers. They expect to produce adjusted core earnings of £7.2-7.5bn on 5-6% lower revenue for its 2020/21 financial year.


Glencore ups expectations for trading after sticking to copper and colbat guidance. This is due to stellar performance in its trading division, which would see it hit the top end of guidance for the year. They did post lower production figures for H1 2020 after copper output fell 11% and colbat output was down 33% y-o-y.


IAG has said it plans to raise £2.75bn euros in a capital increase backed by Qatar airways, to strengthen its finances after the pandemic wiped out the travel market. They reported an operating loss for Q2 2020 of £1.365bn euros, broadly in line with consensus (£1.395bn loss expected).


Natwest tumbles to H1 2020 pre-tax loss of £770m (2019: £2.7bn profit) on pandemic bad loan charges, after setting aside a fresh £2.1bn provision (£1.7bn expected) against a potential surge in loan losses due to the COVID-19 pandemic.



Reporting Today:



Natwest Group


British American Tobacco



Reporting Monday:






In Focus Today:


CN – Manufacturing PMI


German – Retail Sales



Next Week’s Ex Dividends:


UK 100:





UK 250:


Sabre Insurance Group


HICL Infastructure

Aberforth Smaller Companies Trust

Moneysupermarket Grou

Kainos Group

St. Modwen Properties

Avon Rubber


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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