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Morning Report - 6 September 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
MELROSE INDUSTRIES PLC 201.8 8.8%
NMC HEALTH PLC 2,759.0 6.3%
ST JAMES’S PLACE PLC 971.6 5.1%
ITV PLC 121.2 4.1%
LEGAL & GENERAL GROUP PLC 232.2 3.6%
Yesterday’s FTSE100 Laggards Price (p) % Chg
FRESNILLO PLC 723.0 -5.8%
DIAGEO PLC 3489.0 -3.4%
BHP GROUP PLC 1750.6 -3.1%
RELX PLC 1940.0 -2.9%
ASTRAZENECA PLC 7191.0 -2.7%
Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 7,271 -0.6% -0.7%
DOW JONES INDUS. AVG 26,728 1.4% 2.8%
DAX INDEX 12,127 0.9% 1.4%
NIKKEI 225 21,200 0.5% -5.7%
S&P/ASX 200 INDEX 6,647 0.5% 7.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 56.26 -0.07%
Brent Crude (ICE) USD/bbl. 60.90 -0.08%
Gold Spot USD/t oz. 1,514 -0.3%
Copper (Comex) USd/lb. 263 -0.6%
FTSE 100 called to -10 points at 7271

FTSE 100: 4 hours, 3 Months

Click graph to enlarge

Markets Overview:

FTSE 100 called to open -10 points at 7261; This follows news that opposition parties plan to call a general election on October 29th in a move that looks to unsettle and out manoeuvre Boris Johnson. Overnight trading in Asia saw a positive trading session on renewed hopes of progress with Chinese-US trade talks (now scheduled at a high level for early October). Angela Merkel also waded in on the matter saying she hopes these trade issues will be over soon. The Dow Jones continued to motor on, now adding just short of 2000 points in the last month! In focus today will be Non-farm payrolls where a slow down in US job growth is expected, but enough to support the economy. Oil pulled back from its highs of yesterday following a bigger than expected draw-down, but still settled above $61 per barrel, gold was yesterdays most noticeable faller, currently settled at $1515.

 

In corporate news this morning:

Ashmore group announces H1 2019 assets under management +24%, strong returns delivered by their active investment process. EBITDA +10%, profit before tax +15% and recommended final dividend per share of 12.1p. 

 

Berkeley Group anticipates net cash at half year to be at a similar level to full year position of £975m. First 4 months of this financial year, market conditions in London and South East have remained robust. Over six years to 30 April 2025, sees profit ranging between £500-700m. 

Weir Group wins record £100m order for Australian magnetite iron ore project.

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

 

Upgrades/Downgrades:

Pennon Upgraded to Outperform by RBC Capital Markets (Bloomberg: 5 Buys/ 6 Holds/ 2 Sells; 12 month average price target: 824p)

United Utilities Downgraded to Sector Perform by RBC Capital Markets (Bloomberg: 5 Buys/ 8 Holds/ 3 Sells; 12 month average price target: 853p)

Royal Bank Of Scotland Downgraded to Hold by Deutsche Bank (Bloomberg: 12 Buys/ 11 Holds/ 2 Sells; 12 month average price target: 252p)

Lloyds Downgraded to Hold by Deutsche Bank (Bloomberg: 16 Buys/ 8 Holds/ 3 Sells; 12 month average price target: 66p)

Dunelm Upgraded to Hold by HSBC (Bloomberg: 2 Buys/ 3 Holds/ 4 Sells; 12 month average price target: 1805p)

Kaz Minerals Upgraded to Overweight/Inline by Morgan Stanley (Bloomberg: 15 Buys/ 9 Holds/ 2 Sells; 12 month average price target: 623p)

 

In Focus Today:

Eurozone GDP

Non-Farm payrolls

 

Companies reporting day reactions:

IAG, Ashmore, Berkeley Group

 

 

Companies reporting next week: 

ABF, Abcam, 888, Ashtead, Cairn, GKP, JD Sports, Galliford, Morrisons, Weatherspoons

 

Next week Ex-Dividends:

Melrose
The restaurant Group
Computacenter
BBA Aviation
Cineworld

 

 

(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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