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Morning Report - 8 October 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
INTL CONSOLIDATED AIRLINE-DI 468.6 3.1%
NMC HEALTH PLC 2,571.0 2.8%
CENTRICA PLC 71.5 2.6%
HISCOX LTD 1,603.0 2.0%
FRESNILLO PLC 674.8 1.9%

 

Yesterday’s FTSE100 Laggards Price (p) % Chg
JD SPORTS FASHION PLC 734.8 -2.6%
ASSOCIATED BRITISH FOODS PLC 2165.0 -1.8%
INFORMA PLC 783.0 -1.8%
COCA-COLA HBC AG-DI 2546.0 -1.7%
HARGREAVES LANSDOWN PLC 1790.5 -1.4%

 

Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 7,198 0.6% -0.5%
DOW JONES INDUS. AVG 26,478 -0.4% 0.0%
DAX INDEX 12,097 0.7% 1.3%
NIKKEI 225 21,607 1.1% -9.2%
S&P/ASX 200 INDEX 6,593 0.5% 8.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 53.12 0.70%
Brent Crude (ICE) USD/bbl. 58.79 0.75%
Gold Spot USD/t oz. 1,491 -0.2%
Copper (Comex) USd/lb. 260 0.8%

 

FTSE 100 called to open +20 points at 7216

FTSE 100: 15 Minutes, 11 days

Click graph to enlarge

Markets Overview:

 

FTSE 100 called to open +20 points at 7216; Calls for a positive open show further evidence of market resistance after Donald Trump’s administration overnight put eight Chinese tech firms on a blacklist, accusing them of being implicated in human rights violations against Muslim minorities in Xinjiang province. This latest move casts a cloud over trade talks this week scheduled for Thursday & Friday. In Asian trading sessions we saw risk on renter the markets with the Nikkei rising more than 1% during trading and the Hang Seng adding six tenths of a percent. This side of the pond Britain is bracing itself for the potential of Brexit talks collapsing after Jean Claude Juncker yesterday said to meet October 31st deadline a deal would need to be in place by this Friday, this brings into question, if a “worst case scenario” is already priced in? Overnight oil rose to break through the $59 per barrel level, with risk on sentiment far more prevalent it will be little surprise that gold has retraced to $1491. 

 

In corporate news this morning:

 

Diploma announce that its Finance Director Nigel Lingwood will retire in October 2020. 

 

EasyJet stated that FY 2019 profit would come in at the upper end of expectations (£420-430m) with revenues boosted by pilot strikes at rivals British Airways and Ryanair.  


Ferrexpo production update, with pellet production +1.7%. Full year production likely to be in the range of 10.4MT – 10.6MT (previous guidance 10.6MT).  

 

 

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

 

Upgrades/Downgrades:

 

Rio Tinto Upgraded to Buy by Renaissance Capital (Bloomberg: 11 buys/ 11 holds/ 8 sells)

 

Glencore Upgraded to Buy by Renaissance Capital (Bloomberg: 15 buys/ 12 holds/ 1 sells)

 

Polymetal Upgraded to Buy by Renaissance Capital (Bloomberg: 11 buys/ 7 holds/ 1 sells)

 

St James Place Upgraded to Buy by Deutsche Bank (Bloomberg: 16 buys/ 6 holds/ 0 sells)

 

SSP Upgraded to Buy by HSBC (Bloomberg: 7 buys/ 8 holds/ 1 sells)

 

In Focus Today:

 

German Industrial Production data

 

US PPI

 

 

Companies reporting next week:

 

Ferrexpo, Easyjet

 

Companies reporting tomorrow:

 

Unilever, GVC Holdings,

 

Companies reporting this week:

 

Hargreaves Lansdown, Dunelm, Mondi, Man Group

 

(Full list available on Week in advance)

 

This weeks’s Ex-Dividends:

 

Barratt Developments – 5.8%

 

Centrica – 2.1%

 

Close Brothers Group – 3.2%

 

Weir Group – 1.2%

 

 

(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.


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