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| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| ASTRAZENECA PLC | 6,850.0 | 7.7% |
| COMPASS GROUP PLC | 2,018.0 | 2.7% |
| COCA-COLA HBC AG-DI | 2,793.0 | 1.9% |
| WHITBREAD PLC | 4,540.0 | 1.8% |
| CRH PLC | 2,674.0 | 1.8% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| SAGE GROUP PLC/THE | 732.0 | -10.4% |
| SSE PLC | 1079.5 | -7.3% |
| RELX PLC | 1867.5 | -3.7% |
| RENTOKIL INITIAL PLC | 408.6 | -3.6% |
| ST JAMES’S PLACE PLC | 1050.5 | -3.4% |
| Major World Indices | Price | % Chg | 1 YEAR |
| UK 100 INDEX | 7,489 | -0.2% | -2.3% |
| DOW JONES INDUS. AVG | 27,141 | -0.5% | 6.3% |
| DAX INDEX | 12,362 | -1.3% | -3.5% |
| NIKKEI 225 | 21,658 | -0.5% | -4.0% |
| S&P/ASX 200 INDEX | 6,793 | -0.4% | 8.8% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 56.26 | 0.43% |
| Brent Crude (ICE) | USD/bbl. | 63.54 | 0.24% |
| Gold Spot | USD/t oz. | 1,416 | 0.1% |
| Copper (Comex) | USd/lb. | 271 | 0.2% |
Click graph to enlarge
UK 100 called to open +10 points at 7500; Following yesterday's ECB decision to hold interest rates and hold off easing, Asian markets slipped in overnight trading, seeing almost half a percent come off the majority of bourses. It was a similar story in the U.S. with continued mixed earnings releases leading to a weaker trading session, seeing the DOW giving up c130 points and the Nasdaq losing one percent during trading. Crude oil continued to find support at $63 a barrel & gold still sits off recent highs at $1415.
Pearson reports 1H 2019 revenue +2%, adjusted operating profit +30%. Operating profit of £37m (2018: £233m). EPS 6.1p (2018: 24.1p) reflects lower profit on disposal of business. FY 2019 profit guidance unchanged, EPS upgraded to between 57.5p - 63p.
Mulberry announces the acquisition of 40% of the share capital of Mulberry Korea previous held by its local partner SHK Holding Limited.
Rightmove reports profit for 1H 2019 +10%, EPS +12% and increase in interim dividend +12%. Expect 2H 2019 to perform similar to the first half.
Vodafone reports group revenue for Q2 2019 of 10.7bn euros (down by 0.2bn euros due to foreign exchange rate effects). Market conditions continued to improve in Italy and retail growth in Germany remained robust, offsetting the impact of competitor promotions in Spain. Confident on full year guidance of EBITDA of 13.8-14.2bn euros.
Vodafone also announce to create Europe’s largest tower company, unlocking value for shareholders. Will be operational by May 2020.
Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Howden Joinery Upgraded to Hold by Stifel (Bloomberg: 6 Buys/ 6 Holds/ 2 Sells)
EasyJet Downgraded to Sell by Societe Generale (Bloomberg: 10 Buys/ 15 Holds/ 3 Sells)
Berkeley Group Upgraded to Buy by Jefferies (Bloomberg: 4 Buys/ 9 Holds/ 4 Sells)
Compass Group Downgraded to sell by Morningstar (Bloomberg: 8 Buys/ 11 Holds/ 4 Sells)
Cobham Downgraded to sell by Morningstar (Bloomberg: 8 Buys/ 4 Holds/ 1 Sell)
U.S. GDP data (1.30pm)
Baker Hughes US Oil Rig Count (6.00pm)
Japanese Retail trade data (Sunday night-Monday morning pre-open)
Company reporting day reaction:
Vodafone, Rightmove, Pearson
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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.
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Prepared by Michael van Dulken, Head of Research