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| Yesterday’s UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| easyJet PLC | 1025 | 52 | 5.3 | -7.2 |
| TUI AG | 828.2 | 29.2 | 3.7 | -26.4 |
| Bunzl PLC | 2119 | 59 | 2.9 | -10.6 |
| Burberry Group PLC | 1852.5 | 44.5 | 2.5 | 6.7 |
| Micro Focus International PLC | 1908.6 | 33.6 | 1.8 | 38 |
| Yesterday’s UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Just Eat PLC | 622 | -55.8 | -8.2 | 6 |
| Hikma Pharmaceuticals PLC | 1739 | -45 | -2.5 | 1.3 |
| NMC Health PLC | 2493 | -60 | -2.4 | -8.9 |
| Ferguson PLC | 5420 | -130 | -2.3 | 8 |
| Standard Chartered PLC | 677.2 | -15.6 | -2.3 | 11.1 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,348.6 | -4.9 | -0.1 | 9.2 |
| UK | 19,498.6 | -32.1 | -0.2 | 11.4 |
| FR CAC 40 | 5,438.2 | -9.9 | -0.2 | 15.0 |
| DE DAX 30 | 12,238.9 | -71.5 | -0.6 | 15.9 |
| US DJ Industrial Average 30 | 25,764.0 | -98.8 | -0.4 | 10.4 |
| US Nasdaq Composite | 7,816.3 | -81.8 | -1.0 | 17.8 |
| US S&P 500 | 2,859.5 | -16.8 | -0.6 | 14.1 |
| JP Nikkei 225 | 21,325.2 | 75.2 | 0.4 | 6.5 |
| HK Hang Seng Index 50 | 27,763.8 | -182.7 | -0.7 | 7.4 |
| AU S&P/ASX 200 | 6,467.6 | 102.3 | 1.6 | 14.6 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 63.65 | 0.2 | 0.2 | 40.1 |
| Crude Oil, Brent ($/barrel) | 73.13 | 0.5 | 0.7 | 35.0 |
| Gold ($/oz) | 1276.30 | 0.6 | 0.0 | -0.5 |
| Silver ($/oz) | 14.80 | 0.0 | -0.1 | -4.3 |
| GBP/USD – US$ per £ | 1.2736 | – | 0.1 | -0.1 |
| EUR/USD – US$ per € | 1.1153 | – | -0.1 | -2.8 |
| GBP/EUR – € per £ | 1.1422 | – | 0.4 | 2.7 |
Click graph to enlarge
UK 100 called to open +11pts at 7359, just under the old February range floor, after a week long uptrend. Bulls need a break above Friday’s 7371 peak in order to surge back into the range. Bears require a breach of 7336 to start pushing against last week’s breakout for a further retrace towards 7129 lows. Watch levels: Bullish 7375, Bearish 7325.
Calls for a positive open come after a mixed session in Asia, still sluggish after global cautious optimism regarding the end of the US-China trade tensions.Meanwhile, US equities rose as next chapter of trade discussions is anticipated. The UK Index has also benefited from the ease in pressure from the trade dispute and could benefit further, should talks progress.
Gold ($1275) has retraced from last week’s high of $1303 as risk for appetite is increasing and equities are starting to look attractive to investors again. Brent Crude Oil ($73.2) also slightly upwards, benefiting from trade talk progress, further US-Iran tensions and Saudi Arabia suggesting OPEC to keep the production cut plan. GBP ($1.27) still strongly to the downside as Conservative-Labour talks regarding a Brexit agreement break down, PM Theresa May on her way out and Jeremy Corbyn moving closer to backing a second referendum.
Ryanair FY 2019 profit -29%, Net income -39%, revenue +6%, issues profit warning. Cautious on outlook as lower fares and losses at Austrian arm hit FY 2019 profits. Operating expenses +16%. Forecasts further decrease in earning for the year.
Softcat Q3 Trading Update, strong YoY growth on all income and profit measures, reiterates guidance, board expects FY results to be slightly ahead of expectations.
Unite Group raises &250m for investors, agrees to sell $111m worth of assets to its student accommodation fund (USAF). Unite stake in USAF will fall from 25% to 23%.
In the UK, BoE’s Broadbent is expected to hold a speech and talk about the British economy amidst Government-Opposition Brexit talks breaking down.
A series of speeches from the FED (12:30-23:00) could shake the markets after last week, when Robert Kaplan tilted towards the dovish side in the midst of the Sino-American trade dispute. Chairman Powell will address the ongoing dispute and also its potential impact on inflation.
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Prepared by Michael van Dulken, Head of Research