Getting latest data loading
Home / Morning Report / 071014vi

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 7 October 2014

UK 100 Leaders Close (p) Chg (p) % Chg % YTD
Antofagasta PLC 706.5 26.0 3.8 -6.3
Fresnillo PLC 745.5 25.5 3.5 0.2
Barclays PLC 232.3 7.7 3.4 -12.7
Tesco PLC 176.75 4.6 2.7 -48.3
Anglo American PLC 1348 33.5 2.6 3.6
BG Group PLC 1093 27.0 2.5 -10.8
Old Mutual PLC 181.2 3.8 2.1 -4.2
Carnival PLC 2495 51.0 2.1 13.5
UK 100 Laggards Close (p) Chg (p) % Chg % YTD
Petrofac Ltd 982.5 -13.0 -1.3 -18.6
Royal Mail Group PLC 392.1 -2.5 -0.6 -32.4
United Utilities Group PLC 805 -5.0 -0.6 23.6
Legal & General Group PLC 226.8 -1.2 -0.5 9.4
Next PLC 6615 -35.0 -0.5 20.0
Ashtead Group PLC 1013 -5.0 -0.5 50.4
Royal Dutch Shell PLC 2372 -11.5 -0.5 12.6
Aviva PLC 517 -2.5 -0.5 23.2
Major World Indices Mid/Close Chg % Chg % YTD
UK UK 100 6,563.7 35.7 0.55 -2.7
UK 15,277.0 46.9 0.31 -4.1
FR CAC 40 4,286.5 4.8 0.11 -0.2
DE DAX 30 9,209.5 13.8 0.15 -3.6
US DJ Industrial Average 30 16,992.0 -17.8 -0.10 2.5
US Nasdaq Composite 100 4,454.8 -20.8 -0.47 6.7
US S&P 500 1,964.8 -3.1 -0.16 6.3
JP Nikkei 225 15,891.0 182.3 1.16 -2.5
HK Hang Seng Index 48 23,387.4 322.9 1.40 0.3
AU S&P/ASX 200 5,292.9 -25.3 -0.48 -1.1
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, US Light Sweet ($/barrel) 90.28 -0.09 -0.09 -8.4
Crude Oil, Brent ($/barrel) 92.73 1.24 1.36 -17.4
Gold ($/oz) 1205.05 -1.95 -0.16 0.2
Silver ($/oz) 17.35 0.01 0.04 -10.7
Platinum ($/oz) 1246.30 19.60 1.6 -9.3
GBP/USD – US$ per £ 1.606 -0.08 -2.9
EUR/USD – US$ per € 1.262 -0.19 -8.0
GBP/EUR – € per £ 1.273 0.11 5.4
UK Index is called to open up 6 points higher

Click graph to enlarge

Today's Main Events

  • 09:30     UK          Bank of England Credit Conditions Survey
  • 09:30     UK          Industrial Production
  • 09:30     UK          Manufacturing Production
  • 15:00     UK          NIESR Gross Domestic Product Estimate
  • 20:00     US          Consumer Credit

See Live Macro Calendar for full data line-up, incl. consensus expectations

Markets Overview: (Source: Bloomberg, FT, Reuters, DJ Newswires)

The UK 100 Index is called to open higher by 2pts at 6556pts after advancing 36pts yesterday driven by high beta constituents and recovering supermarkets.

Antofagasta (ANTO.L) added 3.82% after broker Sanford Bernstein reaffirmed a 'market perform' rating on the stock with a 900p target price, citing some 30% potential return.

Precious metal miners Fresnillo (FRES.L) and Randgold Resources (RRS.L) advanced 3.53% and 1.52%. Gold managed to climb above $1,200 a troy ounce.

Barclays' (BARC.L) cutting plan was well received, the shares added 3.43% on news the bank will cut 1,300 and install "smart ATMs" to automate sites.

The recruitment of two new non-execs at Tesco (TSCO.L), coupled with the shares trading at multi year lows, was enough to tempt bargain hunters. The shares increased in value by 2.67%. J Sainsbury (SBRY.L) and WM Morrison Supermarkets (MRW.L) added 1.6% each.

BREAKING NEWS - Rio Tinto (RIO.L) has said "no" to a mega merger with Glencore Xstrata (GLEN.L). Rio's New York listing (ADR) closed the session higher by 9% last night on hopes a deal was forthcoming.

US markets endured a subdued session, traders seemingly unsure whether to buy or sell after Friday's rampant session. The Dow Jones gained 200pts on Friday but shed 18pts yesterday as traders paused for breath.

Asian stocks registered shallow gains or losses. Rio Tinto shares climbed 4.3% in Australia as the ASX200 closed flat. The Hang Seng gained the most, up 0.5% as the Hong Kong government agreed to start formal talks with pro-democracy protesters.

Both Australia and Indonesia will keep key interest rates on hold at reviews today, according to economists surveyed by Bloomberg.

In FX, the yen held its biggest advance against the dollar since April as the Bank of Japan is projected to keep record stimulus unchanged today.

The dollar advanced against major peers, following its biggest decline in more than 12 months yesterday, as investors weighed the timing of the Federal Reserve’s first interest-rate increase since 2006.

Gold retreated after climbing the most in two months as the dollar advanced toward a four-year high but held above $1,200.

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.

Key Overnight Macro Data: (Source: Reuters/DJ Newswires)

  • JP            Coincident Index                              Worse
  • JP            Leading Index                                    Worse

See Live Macro Calendar for full data line-up, incl. consensus expectations

UK Company Headlines: (Source: Reuters/DJ Newswires)

•             Rio Tinto rejects Glencore merger approach amid iron ore slump

•             Ferrexpo says total pellet production year-to-date up 2.6 pct

•             Fresnillo completes buy of Newmont Mining's Penmont interest

•             The Berkeley Group Holdings plc today announces that it has appointed Richard Stearn to its board as Finance Director

•             Carillion awarded 75 mln pound contract for Dubai World Trade Centre

•             Diploma buys 80 pct stake in Technopath Distribution

•             Cairn discovers oil offshore Senegal


Back to Top

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

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.