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Morning Report - 9 September 2019

Yesterday’s UK 100 Leaders Price (p) % Chg
SMURFIT KAPPA GROUP PLC 2,608.0 3.4%
BERKELEY GROUP HOLDINGS/THE 3,980.0 2.8%
CRODA INTERNATIONAL PLC 4,808.0 2.4%
JUST EAT PLC 782.8 2.4%
OCADO GROUP PLC 1,363.5 2.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
UNITED UTILITIES GROUP PLC 784.2 -2.9%
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
UK 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%
UK 100 called to +35 points at 7317

UK 100 : 4 hours, 2 Months

Click graph to enlarge

Markets Overview:

UK Index 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

 

Upgrades/Downgrades:

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 GDP

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)

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