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Morning Report - 5 November 2019

Yesterday’s UK 100 Leaders Price (p) % Chg
NMC HEALTH PLC 2,351.0 5.7%
GLENCORE PLC 252.2 4.7%
SMURFIT KAPPA GROUP PLC 2,758.0 4.6%
RIO TINTO PLC 4,294.0 3.0%
KINGFISHER PLC 215.3 3.0%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
FLUTTER ENTERTAINMENT PLC 7932.0 -3.4%
HISCOX LTD 1440.0 -2.4%
LAND SECURITIES GROUP PLC 914.0 -2.0%
JD SPORTS FASHION PLC 758.2 -1.5%
BRITISH LAND CO PLC 602.8 -1.4%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 7,370 0.9% 3.7%
DOW JONES INDUS. AVG 27,462 0.4% 7.9%
DAX INDEX 13,136 1.4% 14.3%
NIKKEI 225 23,252 1.8% 4.5%
S&P/ASX 200 INDEX 6,697 0.2% 15.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 56.60 0.11%
Brent Crude (ICE) USD/bbl. 62.25 0.19%
Gold Spot USD/t oz. 1,506 -0.3%
Copper (Comex) USd/lb. 268 0.3%
UK 100 called to open +20 points at 7390

UK 100 : 1 day, 6 Months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open +20 points at 7390; overnight sessions in both Asia stocks and U.S. saw gains after further records were reached on Wall Street, spurred by signs the U.S. and China are inching toward a trade deal. The Dow Jones closed at 27,462, +114 points (a new record close) with futures currently sitting at in excess of 27,500. The S&P also tumbled previous records to close at 3,078, +11 points; and to complete the set the Nasdaq closed at record highs also, 8,433, +46 points. The Nikkei closed gaining just shy of 2% +435 points! The Hang Seng also added +145 points. In focus today will be global equities, could this be the foothold for a return to record highs this side of the pond? Oil has maintained its $62 per barrel level whilst gold has pulled back slightly ($1507) to add further fuel to the risk on appetite that exists.

 

In corporate news this morning:

 

AB Foods reported a +2% rise in annual earnings with growth at its Primark and grocery businesses  more than offset lower sugar profits. EPS of 137.5p, exceeding 17/18’s 134.9p payment. Well positioned for further progress in 2020 with the continued expansion of Primark, a material improvement in sugar profit and strong profit growth in grocery.  

 

 

Imperial Brands posted slightly higher-than-expected FY 2019 sales and has appointed Therese Esperdy to succeed Mark Williamson as chairman. Revenue from next-generation products rose +3.9% to £7.99bn (£7.93bn expected). Adjusted EPS of 273.3p.  

 

 

Ryanair October traffic grows +5% to 13.8m guests.

 

 

Topps Tiles group CEO Matt Williams has decided to step down from the board with effect from 29th November 2019. Rob Parker current CFO will be appointed as his replacement. 

 

Weir group reports growth in Q3 2019 underpinned by expanded mining equipment offering. No change to FY guidance.

 

Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

 

 

Upgrades/Downgrades:

 

Aggreko Upgraded to Outperform by Credit Suisse (Bloomberg: 6 buys/ 3 holds/ 6 sells)

 

Dixons Carphone Downgraded to Sector Perform by RBC Capital Markets (Bloomberg: 6 buys/ 7 holds/ 1 sells)

 

HSBC Downgraded to Sell by Berenberg (Bloomberg: 4 buys/ 11 holds/ 12 sells)

 

Hunting Downgraded to Sell by Goldman Sachs (Bloomberg: 10 buys/ 4 holds/ 2 sells)

 

John Wood Upgraded to Neutral by Goldman Sachs (Bloomberg: 11 buys/ 6 holds/ 1 sells)

 

Micro Focus International Upgraded to Neutral by Goldman Sachs (Bloomberg: 4 buys/ 5 holds/ 3 sells)

 

Next Downgraded to Sector Perform by RBC Capital Markets (Bloomberg: 6 buys/ 11 holds/ 5 sells)

 

Smith & Nephew Upgraded to a Hold rating by Morningstar (Bloomberg: 5 buys/ 8 holds/ 2 sells)

 

In Focus Today:

 

Chinese Caixin Services PMI

 

US Trade Balance

 

ISM non manufacturing PMI

 

 

Companies reporting today:

 

Associated British Foods, Imperial Brands

 

Companies reporting tomorrow:

 

Marks & Spencer, Intu Properties

 

Companies reporting this Week:

 

Flutter, Hikma, Provident Financial, Persimmon, RSA Insurance, Sainsburys

 

(Full list available on Week in advance)

 

This Week’s Ex-Dividends:

 

BP – 1.6%

 

Whitbread  – 0.8%

 

Galliford Try – 4.7%

 

Card Factory – 4.6%

 

 

(Full list available on Week in advance)

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