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Morning Report - 8 July 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
JUST EAT PLC 642.2 2.8%
SAINSBURY (J) PLC 205.3 2.4%
TUI AG-DI 802.0 1.4%
FRESNILLO PLC 880.4 1.1%
Yesterday’s FTSE100 Laggards Price (p) % Chg
RIO TINTO PLC 4723.5 -3.8%
EVRAZ PLC 629.0 -3.7%
AVEVA GROUP PLC 3930.0 -3.3%
EXPERIAN PLC 2365.0 -2.9%


Major World Indices Price % Chg 1 YEAR
FTSE 100 INDEX 7,553 -0.7% -0.9%
DOW JONES INDUS. AVG 26,922 -0.2% 10.1%
DAX INDEX 12,569 -0.5% 0.6%
NIKKEI 225 21,534 -1.0% -1.2%
S&P/ASX 200 INDEX 6,672 -1.2% 6.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 57.54 0.05%
Brent Crude (ICE) USD/bbl. 64.25 0.03%
Gold Spot USD/t oz. 1,404 0.3%
Copper (Comex) USd/lb. 266 -0.2%
FTSE 100 called to open -10 points at 7545

FTSE 100: 5 day, 2 hourly

Click graph to enlarge

Markets Overview:

FTSE 100 called to open -10 points at 7545; Continuation of Friday’s softer close to the week on the back of stronger than expect U.S jobs data (Non farm payrolls), however, expect an increase in volumes this week following last week’s U.S. Independence day public holiday. 

Keep your eyes on the banking sector today with Deutsche bank reportedly set to cut 18,000 jobs; will this see the bank’s shares fall further? Or could this be seen as a positive for the balance sheet and the banking sector as a whole? Gold prices have found some support around the $1400 level.

In corporate news this morning:

Acacia Mining Q2 gold production +51% vs Q1. Remains confident of achieving production within their guidance of 500 – 550k ounces for the year. 

IAG (owner of British Airways) has been notified by the UK Information Commissioner’s Office that it has been imposed with a penalty of £183.39m (1.5% of IAG’s 2017 worldwide turnover) for last year’s consumer data breach.

Imperial Brands to launch £200m share buyback program; reaffirms 10% final dividend growth (for FY19 and revised progressive dividend policy going forward.

GKP announces intention to commence a $25M share buyback programme using existing cash.

Petropavlovsk announces their K&S iron ore mine in June 2019 operated at 93% capacity in strong iron ore price environment.  

Ferguson announces 11-month share buyback of $419M commencing today; expects to request further buyback authority from shareholders at 2019 AGM

In focus today:

U.S Bond auction (what will bond yields do to the market?). What about US Consumer Inflation Expectations for Fed Rate cut expectations and the dollar?

Look out for reaction across global markets from Bank of Japan’s Kuroda’s overnight speech.

This Weeks major companies reporting – Ocado, Micro Focus, Barratt Developments


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.

Prepared by Michael van Dulken, Head of Research
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.5% 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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