This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
|Yesterday’s FTSE100 Leaders||Price (p)||% Chg|
|BURBERRY GROUP PLC||1,949.5||1.9%|
|VODAFONE GROUP PLC||132.9||1.1%|
|Yesterday’s FTSE100 Laggards||Price (p)||% Chg|
|COCA-COLA HBC AG-DI||2867.0||-6.7%|
|INTL CONSOLIDATED AIRLINE-DI||457.7||-6.0%|
|AVEVA GROUP PLC||4062.0||-2.6%|
|Major World Indices||Price||% Chg||1 YEAR|
|FTSE 100 INDEX||7,604||-0.1%||0.0%|
|DOW JONES INDUS. AVG||26,966||0.7%||11.6%|
|S&P/ASX 200 INDEX||6,751||0.5%||8.6%|
|WTI Crude Oil (Nymex)||USD/bbl.||56.70||-1.12%|
|Brent Crude (ICE)||USD/bbl.||63.26||-0.06%|
|Gold Spot||USD/t oz.||1,414||-0.2%|
FTSE 100 called to open +5 points at 7608; Completing the clean sweep of positive opens for the week; continued positive market sentiment had this week seen fresh 10 month highs on both the FTSE 100 & the German Dax as well as fresh all time new intraday highs on the Dow Jones, The S&P 500 and the Nasdaq. Crude held around the $64 per barrel price inspire of tensions between Tehran and the UK over seized Iranian oil tanker and gold has held at $1417 overnight.
In corporate news this morning:
Ferrexpo 2Q pellet production +11% to 2.8MT. FY 2019 Production guidance remains 10.6MT. In 1H, the group continued to generate strong cash flow due to average prices +29%, reflecting stronger iron ore prices and premiums for iron ore pellets.
Acacia Mining announces mineral reserves update for Gokona Mine at North Mara. Gold mineral reserves +13% vs end-2018. Primarily driven by successful additional drilling on East and West extension at Gokona.
SIG says trading conditions remain challenging; marked deterioration in UK construction activity. Continuing transformation and normal seasonality should enable delivery of stronger H2. Board continues to expect underlying profitability for full year in line with expectations, but will continue to monitor how trading conditions develop.
Tullow Oil upgraded to Buy at Jefferies
John Wood upgraded to Buy at Berenberg
In focus today:
Eurozone import/ Export data (7.45am)
Non-Farm payrolls data (1.30pm)
US Fed monetary policy report (2.00pm)
Company results reaction – Ferrexpo
Next Week’s major companies reporting – Ocado, Microfocus, Barratt Developments
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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.Prepared by Michael van Dulken, Head of Research