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|Yesterday’s FTSE100 Leaders||Price (p)||% Chg|
|ASSOCIATED BRITISH FOODS PLC||2,374.0||5.6%|
|ROLLS-ROYCE HOLDINGS PLC||769.0||4.5%|
|Yesterday’s FTSE100 Laggards||Price (p)||% Chg|
|AVEVA GROUP PLC||4140.0||-2.7%|
|UNITED UTILITIES GROUP PLC||845.6||-2.2%|
|POLYMETAL INTERNATIONAL PLC||1246.5||-1.9%|
|Major World Indices||Price||% Chg||1 Year|
|FTSE 100 INDEX||7,388||0.3%||4.9%|
|DOW JONES INDUS. AVG||27,493||0.1%||7.3%|
|S&P/ASX 200 INDEX||6,660||-0.6%||13.4%|
|WTI Crude Oil (Nymex)||USD/bbl.||56.91||-0.56%|
|Brent Crude (ICE)||USD/bbl.||62.56||-0.64%|
|Gold Spot||USD/t oz.||1,486||0.1%|
FTSE 100 called to open -18 points at 7370; Stocks pulled back slightly overnight as investors question the next move in the trade negotiations between the US and China. In the UK Boris Johnson will get his election campaign underway today with the promise to “Get Brexit done”. The Dow Jones once again closed at record highs +30 points. The S&P 500 closed mainly flat; whilst the Nasdaq posted modest gains +1.5 points. In Asia both the Hang Seng (+33 points) and the Nikkei (+51 points) closed with positive trading sessions. Oil slipped slightly from yesterdays highs of $63, trading at $62.9 at time of writing. Whilst heavy risk on sentiment hit gold hard to see the safe haven trade down at $1486 from yesterdays highs of $1510.
Intu Properties says it expects lower rental income for the year as more stores are closed down at its shopping malls due to broader weakness in the retail sector. Annual like-for-like net rental income to be down -9% and they predicted it would fall again in 2020 but at a slower rate.
Marks & Spencer reported a 17% drop in 1H 2019 profit, due to falling clothes sales. They posted a pre-tax profit of £176.5m (2018: £213m) which was in line with expectations. Clothing and home sales -5.5%, food sales +0.9%. They forecast an improvement in 2H 2019 even though market conditions remain challenging.
Ryanair grounds 3 Boeing 737 planes due to cracking between wing and fuselage.
Sophos Group reported 1H 2019 results with revenue growth +8% and billings growth +9% at constant currency YOY; with progress in next-gen transition and growth in Sophos Central.
Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Ferrexpo Upgraded to Overweight by JP Morgan (Bloomberg: 6 buys/ 3 holds/ 4 sells)
International Consolidated Airlines (IAG) Upgraded to Outperform by Bernstein (Bloomberg: 23 buys/ 5 holds/ 0 sells)
Lloyds downgraded to Reduce by Numis (Bloomberg: 14 buys/ 8 holds/ 4 sells)
Softcat Upgraded to Buy by Jefferies (Bloomberg: 2 buys/ 3 holds/ 0 sells)
Eurozone Markit PMI
Marks & Spencer, Intu Properties
Flutter, Hikma, Provident Financial, Persimmon, RSA Insurance, Sainsburys
(Full list available on Week in advance)
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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