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Morning Report - 5 November 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
NMC HEALTH PLC 2,351.0 5.7%
GLENCORE PLC 252.2 4.7%
RIO TINTO PLC 4,294.0 3.0%


Yesterday’s FTSE100 Laggards Price (p) % Chg
HISCOX LTD 1440.0 -2.4%
Major World Indices Price % Chg 1 Year
FTSE 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%
FTSE 100 called to open +20 points at 7390

FTSE 100: 1 day, 6 Months

Click graph to enlarge

Markets Overview:


FTSE 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





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)

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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