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Morning Report - 6 August 2020

Wednesday’s UK 100 Leaders Price (p) % Chg
INTL CONSOLIDATED AIRLINE-DI 193.8 10.5%
EVRAZ PLC 321.9 9.0%
COCA-COLA HBC AG-DI 2,198.0 8.1%
GLENCORE PLC 196.2 7.5%
POLYMETAL INTERNATIONAL PLC 2,050.0 6.4%
Wednesday’s UK 100 Laggards Price (p) % Chg
DIAGEO PLC 2623.0 -3.6%
NATIONAL GRID PLC 907.4 -1.7%
RECKITT BENCKISER GROUP PLC 7710.0 -1.2%
HSBC HOLDINGS PLC 333.5 -1.0%
PENNON GROUP PLC 1054.0 -0.9%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 6,105 1.1% -15.5%
DOW JONES INDUS. AVG 27,202 1.4% 5.8%
DAX INDEX 12,660 0.5% 8.6%
NIKKEI 225 22,515 -0.3% 9.4%
S&P/ASX 200 INDEX 6,001 -0.6% -7.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 42.20 1.20%
Brent Crude (ICE) USD/bbl. 45.26 1.87%
Gold Spot USD/t oz. 2,038 0.0%
Copper (Comex) USd/lb. 292 0.8%
UK 100 called to open -40 points this morning at 6065. 

1 hour; 4 Months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open -40 points this morning at 6065.  Calls for a slightly negative open come on the back of the Bank of England holding interest rates at 0.1% this morning, and issuing a unemployment warning for the UK.  Yesterday U.S. stocks ended near record highs on Wednesday, with the S&P 500 finishing just shy of its February all-time high and the Nasdaq notching its 31st record high of 2020. Hope of further stimulus from the U.S. government to help out-of-work Americans.  The Dow Jones rose 373.05 points, or 1.4%, to close at 27,201.52, its largest daily percent gain since July 14, while the S&P 500 gained 21.26 points, 0.6%, to end at 3,327.77. The Nasdaq  added 57.23 points, 0.5%, closing at 10,998.40.

 

Company News:

 

Aviva report they are to reduce their focus on its Asian and European businesses as it posted a 12% drop in H1 2020 profit to £1.2bn. They are looking to focus on UK, Ireland and Canada instead.

 

Evraz says H1 2020 net profit came in at $513m, whilst H1 revenue fell 18.8% Y-o-Y to $4.98bn. An interim dividend for 2020 of $291.37m (20 cents per share) has been declared.

 

Glencore is to scrap its dividend (worth $2.6bn) to focus on lowering debt as COVID-19 pandemic forced it to book a $3.2bn impairment charge. EBITDA fell 13% to $4.8bn in H1 2020, beating analysts average expectations of $4.3bn. They posted a net loss for the period of $2.6bn (2019: $226m profit). Their trading arm saw a record EBIT of $2bn in H1 2020 as they benefited from extreme volatility in the oil market.

 

GSK announce that the FDA have approved their experimental treatment of BLENREP for a common form of blood cancer.

 

Hammerson plans to raise £825m from a rights issue, stake sale in VIA outlets. Net rental income fell 44% to £87.3m for H1 2020.

 

ITV H1 2020 earnings drop 50% after COVID-19 hits advertising revenues and interrupted the production of new shows. Ad revenue for Q2 fell 43%, with total external revenue for H1 2020 AT £1.22bn. Adjusted earnings before interest, tax and amortization halved to £165m.

 

Meggitt says its financial position and liquidity remain strong in a statement issued in response to press speculation which said it might need to raise new equity because of the pandemic.

 

Reporting Today:

 

Evraz

Mondi

Savills

Serco

ITV

Aviva

Glencore

Cineworld

 

Reporting Friday:

 

Hargreaves Lansdown

Hikma Pharmaceuticals

Rightmove

Standard Life Aberdeen

Metrobank

 

 

In Focus Today:

 

UK – BOE Interest Rate Decision

GER – Industrial Production Data

US – Initial Jobless Claims

 

Today’s Ex Dividends:

 

UK 100:

 

Unilever

Fresnillo

 

UK 250:

 

Sabre Insurance Group

IMI

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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