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Morning Report - 9 September 2019

Yesterday’s FTSE100 Leaders Price (p) % Chg
JUST EAT PLC 782.8 2.4%
OCADO GROUP PLC 1,363.5 2.4%
Yesterday’s FTSE100 Laggards Price (p) % Chg
SEVERN TRENT PLC 2024.0 -1.8%
CENTRICA PLC 67.9 -1.8%
SSE PLC 1150.0 -1.6%
PRUDENTIAL PLC 1404.5 -1.3%
Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 7,282 0.2% 0.1%
DOW JONES INDUS. AVG 26,797 0.3% 3.4%
DAX INDEX 12,192 0.5% 1.9%
NIKKEI 225 21,318 0.6% -4.4%
S&P/ASX 200 INDEX 6,648 0.0% 8.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 57.19 1.19%
Brent Crude (ICE) USD/bbl. 62.20 1.07%
Gold Spot USD/t oz. 1,508 0.1%
Copper (Comex) USd/lb. 263 -0.3%
FTSE 100 called to +35 points at 7317

FTSE 100: 4 hours, 2 Months

Click graph to enlarge

Markets Overview:

FTSE called to open +35 Points at 7317 this morning; Asia stocks gained overnight as further hopes of increased stimulus for the markets to slow growth in the world major economies.  Risk sentiment was also fortified as Federal Reserve Board Chairman Jerome Powell said on Friday that the central bank would continue to act “as appropriate” to sustain economic expansion.  Friday saw further gains being tempered by lacklustre jobs data which slowed more than expected in August.  Although the Dow did close Fridays trading session in the green and a green sweep in Asia to start the week. Oil has bounced from $60 a barrel to $62.5 over the weekend, could this signify a bounce in the UK listed oilies?  The biggest loser is gold, risk on sentiment has had impact and gold dropped from $1550 to $1505.


In corporate news this morning:

Associated British Foods maintained its guidance, forecasting good profit performances at its Primark fashion chain and grocery business would offset a decline in its sugar operations. Sales at Primark for FY 2019 +4% ahead of last year, driven by increased selling space partially offset by a 2% decline in like-for-like sales.

Lloyds announced this morning extra provisions for PPI claims of £1.2-1.8bn and will suspend the rest of its 2019 buyback programme.


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



Ultra Electronics Upgraded to Equalweight by Barclays (Bloomberg: 4 Buys / 6 Holds / 2 Sells)


Mitchells & Butler Upgraded to Overweight by Morgan Stanley (Bloomberg: 10 Buys / 3 Holds / 3 Sells)


McCarthy & Stone Upgraded to Buy by HSBC (Bloomberg: 3 Buys / 3 Holds / 2 Sells)

Berkeley Group Upgraded to Buy by HSBC (Bloomberg: 5 Buys / 8 Holds / 5 Sells; Average)

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:

German Balance of Trade 

UK Balance of Trade 


UK Industrial production

US Consumer inflation


Companies reporting day reactions:

Associated British Food, Hunting


Companies reporting tomorrow:

Cairn Energy, JD Sports, Bovis Homes, Petropavlovsk


Companies reporting next week: 

Galliford Try, Morrisons, JD Wetherspoon


Next week Ex-Dividends:

Melrose – 0.8%

Stagecoach – 2.9%

Restaurant Group – 1.6%

Cineworld – 1.4%



(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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