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|Yesterday’s FTSE100 Leaders||Price (p)||% Chg|
|IMPERIAL BRANDS PLC||2,004.0||2.2%|
|BHP GROUP PLC||1,992.4||1.9%|
|RIO TINTO PLC||4,802.0||1.7%|
|Yesterday’s FTSE100 Laggards||Price (p)||% Chg|
|OCADO GROUP PLC||1170.5||-4.5%|
|JD SPORTS FASHION PLC||603.4||-2.9%|
|Major World Indices||Price||% Chg||1 YEAR|
|FTSE 100 INDEX||7,549||-0.1%||-1.8%|
|DOW JONES INDUS. AVG||26,806||-0.4%||8.2%|
|S&P/ASX 200 INDEX||6,666||-0.1%||6.0%|
|WTI Crude Oil (Nymex)||USD/bbl.||57.53||-0.23%|
|Brent Crude (ICE)||USD/bbl.||64.07||-0.06%|
|Gold Spot||USD/t oz.||1,393||-0.2%|
FTSE 100 called to open marginally lower by -8 points at 7541; This follows an under pressure trading session in the US with the Dow closing -0.75%to come off recent and all time highs. This sentiment continued into Asian trading, seeing the Hang Seng close -0.9%.
In focus later today will be Oil prices with US oil inventories published this afternoon. Crude has been holding above $64 per barrel. Gold slipped overnight, below the $1400 handle that had provided support previously.
In corporate news this morning:
Bovis first half completions +4%. Private average selling price +2.2%, driven by improved geographical spread of sales outlets. Total average selling price up circa 3%. Continues to see good demand for new homes across all operating regions.
Ocado first half group EBITDA of £18.7m, with 9.7% retail growth reflecting impact of Andover fire. Group EBITDA 1H 2019 £18.1m v £34.3m in 1H 2018. Loss before tax of £142.8m for 1H 2019.
Eddie Stobart Logistics first half revenues +25%, adjusted EBIT means results are expected towards lower end of management expectations, however, as in previous years, volumes will be second half weighted so company expects full year results in line with board expectations.
Micro Focus first half 2019 pretax loss narrowed; Backs FY guidance; Sees constant currency revenues -4% to -6% in FY19; Declares Dividend of 58.33c
Sports Direct completes takeover of Game Digital.
Intertek Group downgraded by Goldman Sachs to Neutral from Sell
Antofagasta downgraded by Macquarie to Neutral from Outperform
In focus today:
US Business optimism (11.00am)
U.S. Federal reserve Chair speech (1.45pm)
US API Oil stocks (9.30pm)
Overnight risk on/off? Chinese inflation data after the close tonight! (2.00am Wednesday morning)
Company results reaction – Ocado, Micro focus & Bovis Homes
Other major companies reporting this week to look out for – Barratt Developments, Superdry, Dart Group and many more
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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