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| Yesterday’s UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Sainsbury (J) PLC | 207.1 | 9.3 | 4.7 | -21.9 |
| Coca-Cola HBC AG | 2769 | 97 | 3.6 | 12.9 |
| Persimmon PLC | 2108 | 62 | 3.0 | 9.2 |
| Taylor Wimpey PLC | 175.85 | 4.3 | 2.5 | 29.1 |
| Evraz PLC | 589.2 | 13.6 | 2.4 | 22.6 |
| Yesterday’s UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Rolls-Royce Group PLC | 918 | -23.2 | -2.5 | 10.6 |
| Imperial Brands PLC | 2143.5 | -44 | -2 | -9.8 |
| Pearson PLC | 785.2 | -15.4 | -1.9 | -16.3 |
| International Consolidated Airlines Group SA | 493.2 | -9.2 | -1.8 | -20.2 |
| Paddy Power Betfair PLC | 5756 | -58 | -1 | -10.1 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,328.9 | 18.0 | 0.2 | 8.9 |
| UK | 19,436.4 | 100.8 | 0.5 | 11.1 |
| FR CAC 40 | 5,385.5 | 26.9 | 0.5 | 13.8 |
| DE DAX 30 | 12,143.5 | 102.2 | 0.8 | 15.0 |
| US DJ Industrial Average 30 | 25,877.3 | 197.3 | 0.8 | 10.9 |
| US Nasdaq Composite | 7,785.7 | 83.3 | 1.1 | 17.3 |
| US S&P 500 | 2,864.4 | 24.1 | 0.8 | 14.3 |
| JP Nikkei 225 | 21,302.5 | 30.1 | 0.1 | 6.4 |
| HK Hang Seng Index 50 | 27,714.8 | 57.6 | 0.2 | 7.2 |
| AU S&P/ASX 200 | 6,510.1 | 10.0 | 0.2 | 15.3 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 62.56 | -0.5 | -0.8 | 37.7 |
| Crude Oil, Brent ($/barrel) | 70.81 | -1.1 | -1.5 | 30.7 |
| Gold ($/oz) | 1273.70 | -0.1 | 0.0 | -0.7 |
| Silver ($/oz) | 14.42 | -0.1 | -0.4 | -6.8 |
| GBP/USD – US$ per £ | 1.2714 | – | 0.1 | -0.3 |
| EUR/USD – US$ per € | 1.1154 | – | -0.1 | -2.7 |
| GBP/EUR – € per £ | 1.1399 | – | 0.1 | 2.5 |
Click graph to enlarge
UK 100 called to open +17pts at 7343, in a 90pts horizontal range just under the February rising support. Bulls need a break above yesterday’s 7368 high to gain momentum for more upside. Bears require a breach of 7311 to head towards the range’s floor. Watch levels: Bullish 7375, Bearish 7300.
Calls for a positive open come amidst a mixed Asian session, after Chinese tech stocks took a hit overnight as the US are looking to blacklist a series of Chinese companies as trade talk tensions heat up again. US markets on the other hand, saw Wall Street stocks move to the upside for the first time in three days as American Companies would be allowed to keep doing business with Huawei for the next three months.
Gold ($1273) still to the downside after hitting two-week lows yesterday as appetite for risk increases. Brent Crude Oil ($71.8) still in a short-term bearish scenario, testing support for the last three days as supply concerns mount amidst Middle East tensions. GBP ($1.27) still weak and heading towards January lows as internal political landscape remains uncertain. A weaker pound could push the UK Index to the upside.
Marks & Spencer Full Year Results, revenue -3%, profit before tax 26.6%, net debt -15.3%, issue part of Ocado Joint Venture announced in February, offer 325m rights shares at 185p. Forecasts difficulties in trading for the year ahead.
SSE Preliminary Results, reported profit before tax +59%, net debt +6% raises dividend to 68.2 vs 66.3, intends to recommend FY2020 dividend of 80p, maintains open dialogue with Labour Party in ongoing interest of nationalization.
Royal Mail Full Year Results, revenue +3%, operating profit -34%, profit before tax 398m in March 2019 vs 565m in March 2018, total net-cash investment lower, cuts dividend, now 25p, rebases dividend policy for FY2020 to 15p.
Babcock Full Year Results, revenue -4%, operating profit -47%, profit before tax -39.9%, earnings per share -40.7%. Net debt -14.1%, raises dividend +1.7%, now 30p vs 29.5p.
Pets at Home Full Year Results, like-for-like revenue +5.7%, customer sales +8.5%, profit before tax + 6.1%, reiterates guidance.
Bovis Homes Trading Statement, average sales +17%, Outlook positive.
Britvic Interim Results, H1 pretax profit +8.1%, boosted by soft-drinks levy, revenue +4.9%, interim dividend of 8.3p vs 7.9.
UK inflation (9:30am) is expected to grow to 2.2% in April from March’s 1.9%This would bring it to its highest level since December 2018. The increase is expected as the GBP has been falling against most other major currencies since the beginning of the month.
ECB Draghi Speech (8:30am) could push the Euro even further up against the Serling after the Monetary Policy meeting.
FOMC Minutes (7pm) from its last meeting will be released, following the FED’s decision to keep interest rates steady between 2.25%-2.5%, with inflation running below its target.
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Prepared by Michael van Dulken, Head of Research