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Morning Report - 8 June 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
BT GROUP PLC 183.5 3.7%
INTL CONSOLIDATED AIRLINE-DI 201.8 2.8%
PERSIMMON PLC 3,236.0 2.7%
ROLLS-ROYCE HOLDINGS PLC 110.1 2.6%
INFORMA PLC 553.0 2.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
ANTOFAGASTA PLC 1522.5 -2.8%
ANGLO AMERICAN PLC 3153.0 -2.7%
B&M EUROPEAN VALUE RETAIL SA 525.6 -2.6%
POLYMETAL INTERNATIONAL PLC 1668.5 -2.0%
GLENCORE PLC 323.7 -1.8%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,077 0.1% 9.3%
DOW JONES INDUS. AVG 34,630 -0.4% 27.7%
DAX INDEX 15,677 -0.1% 22.0%
NIKKEI 225 28,964 -0.2% 25.0%
S&P/ASX 200 INDEX 7,293 0.2% 21.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.81 -0.61%
Brent Crude (ICE) USD/bbl. 70.99 -0.70%
Gold Spot USD/t oz. 1,896 -0.2%
Copper (Comex) USd/lb. 450 -0.6%
UK 100 is called to open flat this morning at 7077.

4 Hours; 8 Months

Click graph to enlarge

Markets Overview:

 

UK 100 is called to open flat this morning at 7077. Calls for a flat open today come after a mixed session on Wall Street yesterday, the Dow Jones fell by 0.4%, the S&P 500 closed just below flat as the Nasdaq was the stand out performing index rising 0.5%.  Stocks in the Asia overnight were mostly lower despite better than expected Japanese GDP data which showed the economy had shrank 3.9% in the first quarter, an improvement from the initial estimate of a 5.1% contraction. The Shanghai Composite in China fell 0.81% and Hong Kong’s Hang Seng index declined 0.42%. In Japan, the Nikkei 225 slipped 0.14%.

 

 

Company News & Broker Comments:

 

Company News:

British American Tobacco have raised their annual revenue growth forecast to more than 5% (was 3-5% previously) as their focus on newer products like e-cigarettes and tobacco-heating devices pays off. Their “new category” products have gained shares in all key markets, including the USA where menthol cigarettes and flavoured cigars are facing a possible ban.

 

Dechra Pharmaceuticals reports strong performance in the last 7 months, and they are confident that the strong performance will continue for the rest of the FY.

 

Intermediate Capital Group report a FY21 pretax profit of £507.7m (2020: £110.8m).

 

RWS Holdings state that their CEO Richard Thompson will step down.

Broker Comments:

Goldman Sachs Downgrades IAG to Neutral from Buy (8 Buys / 6 Holds / 0 Sells)

 

Goldman Sachs Upgrades EasyJet to Buy from Neutral (8 Buys / 9 Holds / 2 Sells)

 

 

Reporting Today:

 

Ferguson

Intermediate Capital Group

Paragon Banking Group

 

 

Reporting Tomorrow:

 

SSP Group

 

In Focus Today:

 

Japanese Gross Domestic Product

European Union Gross Domestic Product

UK BRC Like-For-Like Retail Sales

German Industrial Production

European Union ZEW Survey – Economic Sentiment

German ZEW Survey – Economic Sentiment

US Goods and Services Trade Balance

 

 

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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.


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