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| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| FERGUSON PLC | 5,854.0 | 3.4% |
| RECKITT BENCKISER GROUP PLC | 6,365.0 | 3.3% |
| NATIONAL GRID PLC | 862.7 | 2.8% |
| SEVERN TRENT PLC | 2,107.0 | 2.7% |
| IMPERIAL BRANDS PLC | 1,937.0 | 2.6% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| CRODA INTERNATIONAL PLC | 4888.0 | -4.0% |
| ANTOFAGASTA PLC | 922.8 | -2.8% |
| AUTO TRADER GROUP PLC | 539.0 | -2.5% |
| WPP PLC | 990.0 | -2.2% |
| INTERCONTINENTAL HOTELS GROU | 5235.0 | -1.7% |
| Major World Indices | Price | % Chg | 1 YEAR |
| UK 100 INDEX | 7,559 | 0.8% | -0.5% |
| DOW JONES INDUS. AVG | 26,787 | 0.3% | 10.8% |
| DAX INDEX | 12,527 | 0.0% | 1.4% |
| NIKKEI 225 | 21,638 | -0.5% | -0.7% |
| S&P/ASX 200 INDEX | 6,686 | 0.5% | 7.7% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 56.59 | 0.60% |
| Brent Crude (ICE) | USD/bbl. | 62.79 | 0.63% |
| Gold Spot | USD/t oz. | 1,425 | 0.5% |
| Copper (Comex) | USd/lb. | 266 | -0.3% |
UK Index called to open +12 points at 7572; The continuation in positive market sentiment comes on the back of fresh 9 month highs struck yesterday, overnight Chinese PMI services data surprised to the downside but this left the Aussies unfazed. Following the two day OPEC meeting in Vienna we saw Crude oil rebound from recent highs ($67-$63), conversely gold bounced from its recent pull back (testing the $1400 level) to $1425.
In corporate news this morning:
Purplebricks reported a year of strong revenue growth despite operational challenges. Group revenue up by 55% to £136.5 million (FY 2018: £87.8 million). Operating loss of £52.3 million (FY 2018: £27.8 million).
Sainsbury’s reports third consecutive quarter of declining sales, particularly hurt by weak clothing and general merchandise markets. Like-for-like sales (excluding fuel) fell 1.6% in the first quarter. Retail markets remain highly competitive and promotional and consumer outlook uncertain.
Serco investigation by the Serious Fraud Office into Serco companies concludes with a Deferred Prosecution Agreement.
JD Sports announces in the year to date that they have continued to achieve like for like sales growth in our core Sports Fashion fascias both in the UK and internationally.
Topps Tiles reports over H1, with like-for-like sales increasing by 3.8%.
Smiths Group enters deal to Insure £176m of pension plan with Canada Life.
In focus today:
Eurozone PMI services data (8.00am), UK PMI services data (8.30am), US ADP Jobs (12.30pm) and US PMI services data (2.00pm).
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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