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| Yesterday’s UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Evraz PLC | 664.4 | 25.4 | 4.0 | 38.3 |
| BA-owner IAG | 449.4 | 9.9 | 2.3 | -27.3 |
| Carnival | 3475 | 63 | 1.8 | -7.7 |
| Barclays | 149.3 | 2.4 | 1.6 | -0.8 |
| Phoenix Group | 700 | 10.5 | 1.5 | 24.3 |
| Yesterday’s UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Rolls-Royce | 850.2 | -24 | -2.7 | 2.4 |
| Micro Focus | 2055.5 | -43 | -2.0 | 48.6 |
| Fresnillo | 874.8 | -18.2 | -2.0 | 1.7 |
| Schroders | 3016 | -57 | -1.9 | 23.5 |
| Tesco | 224.2 | -4 | -1.8 | 17.9 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,416.4 | -6.0 | -0.1 | 10.2 |
| UK | 19,260.4 | -26.1 | -0.1 | 10.1 |
| FR CAC 40 | 5,500.7 | -13.9 | -0.3 | 16.3 |
| DE DAX 30 | 12,245.3 | 16.9 | 0.1 | 16.0 |
| US DJ Industrial Average 30 | 26,536.8 | -11.5 | 0.0 | 13.8 |
| US Nasdaq Composite | 7,910.0 | 25.3 | 0.3 | 19.2 |
| US S&P 500 | 2,913.8 | -3.6 | -0.1 | 16.2 |
| JP Nikkei 225 | 21,302.6 | 216.0 | 1.0 | 6.4 |
| HK Hang Seng Index 50 | 28,515.3 | 293.3 | 1.0 | 10.3 |
| AU S&P/ASX 200 | 6,658.2 | 17.7 | 0.3 | 17.9 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 59.21 | -0.3 | -0.5 | 30.3 |
| Crude Oil, Brent ($/barrel) | 65.51 | -0.1 | -0.2 | 21.0 |
| Gold ($/oz) | 1406.81 | -4.1 | -0.3 | 9.7 |
| Silver ($/oz) | 15.40 | 0.0 | 0.2 | -0.4 |
| GBP/USD – US$ per £ | 1.2683 | – | -0.09 | -0.6 |
| EUR/USD – US$ per € | 1.1354 | – | -0.18 | -1.0 |
| GBP/EUR – € per £ | 1.1167 | – | 0.04 | 0.4 |
UK Index called +10pts at 7425. Optimism surrounding a truce to the US-China trade war, had a positive effect on Asian stocks. The hyped-up G20 meeting between Trump and Xi on Saturday had traders excited overnight, following through to European bourses this morning. Combined with hopes of a Fed rate cut, risk appetite remains.
AstraZeneca’s Imfinzi improved overall survival at interim of PIII III CASPIAN trial in 1st-line extensive small cell lung cancer; Trial statistically-significant with clinically-meaningful benefit.
Premier Oil announces significant increase in resource estimate of Zama field offshore Mexico
Serco underlying trading profit +20%, revenues +6% (4% organic); Now anticipate FY revenues around top end of £2.9-3B guidance range, helped by favourable FX movements; continue to expect underlying trading profit of £105m.
Greene King FY revenues +1.8%, adj. Pre-tax +1.6%, statutory profit -12.5%, dividend flat. Pub Company like-for-like sales +2.9%, margin flat. Partners LFL net income +1.5% ; Brewing & Brands revenue +5.8%; First 2 months of new year impacted by poor weather; LFL sales below strong comparatives. Uncertainty likely to continue to weigh on confidence; cost inflation persists.
GlaxoSmithKline and Liquidia amend agreement; Liquidia gets right to develop more products; GSK maintains exclusive rights to develop and commercialize any PRINT-based therapeutic delivered via inhalation, except LIQ861.
Oxford Uni signs deal with Legal & General for £4B funding over 10yrs for graduate housing, subsidized accommodation for staff and income-generating science parks. Unusual arrangement locks in long-term funds for university; L&G gains access to several development projects.
Hunting H1 trading inline with expectations. Cautious start to year; sensitivity to oil prices. Revenue up albeit marginally, EBITDA expected to be marginally ahead, Operating profits/margins lower. Q2 strengthened. Comfortable with FY consensus.
BP invests $30m in Calysta, a California-based biotechnology company using gas to make fish food.
Go-Ahead says Andrew Allner to step down as non-executive Chairman and retire from Board; appoints Clare Hollingsworth as non-executive Chairman Designate from 1 Aug.
Hiscox announces retirement of Richard Watson, Chief Underwriting Officer.
Kingfisher – Appoints new CEO 20 year Carrefour vetran Thierry Garnier.
Unilever to terminate depositary receipt structure Friday, converted to ordinary shares.
Data: EU Business Confidence (10am), US GDP (1:30pm), US Jobless Claims (1:30pm), US Pending Home Sales (3pm), US Kansas Fed Manufacturing (4pm) & US Banking Stress Tests Results.
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Prepared by Michael van Dulken, Head of Research