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Morning Report - 25 September 2019

Yesterday’s UK 100 Leaders Price (p) % Chg
TUI AG-DI 959.6 6.5%
HIKMA PHARMACEUTICALS PLC 2,151.0 2.9%
OCADO GROUP PLC 1,340.0 2.1%
SAGE GROUP PLC/THE 684.2 1.6%
CARNIVAL PLC 3,675.0 1.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
EVRAZ PLC 460.1 -5.5%
AUTO TRADER GROUP PLC 498.5 -3.7%
IMPERIAL BRANDS PLC 2020.0 -3.5%
BURBERRY GROUP PLC 2119.0 -3.0%
SPIRAX-SARCO ENGINEERING PLC 7770.0 -2.9%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 7,291 -0.5% -2.9%
DOW JONES INDUS. AVG 26,808 -0.5% 1.2%
DAX INDEX 12,307 -0.3% -0.6%
NIKKEI 225 22,013 -0.4% -8.0%
S&P/ASX 200 INDEX 6,710 -0.6% 8.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 56.90 -0.68%
Brent Crude (ICE) USD/bbl. 62.57 -0.84%
Gold Spot USD/t oz. 1,530 -0.2%
Copper (Comex) USd/lb. 260 -0.4%
UK 100 called to -30 points at 7260

UK 100 : 4 hours, 27 days

Click graph to enlarge

Markets Overview:

UK 100 called to open -30 points at 7260;  Global markets sold off yesterday on news that Donald Trump faces an impeachment inquiry. Nancy Pelosi said House Democrats will open a formal investigation amid allegations the president urged Ukraine's leader to probe Joe Biden. Trump said he'll "release the transcript of his July 25 phone call with Volodymyr Zelenskiy" today.  This also lead to Asia markets trading lower.  In Japan, the Nikkei slipped 0.44% & the Shanghai composite down 0.57%.  Stateside The S&P 500 dropped 0.8%, however Stocks trimmed some of their losses after Trump said he would release the full transcript of the controversial call.  Oil sold off overnight also, seeing further risk off appetite amongst investors, settling at $62.5 per barrel.  Gold once again the big winner, hitting $1530

 

In corporate news this morning:

 

Aston Martin announced the successful completion of pricing of $150m senior secured notes; option to draw up to $100m additional notes to improve financial flexibility. 

 

Babcock reports trading across the group in line with expectations. They have reiterated their full year guidance for revenue, operating profit & free cash flow. 

 

Boohoo beats on H1 2019 Revenue, profits rise and affirms their full year view. Pre-tax profits +83%, Revenue +43% and they expect full year group revenue growth to be +33-38%. 

 

Sainsbury reports improved sales momentum across all areas of the business; mainly grocery, general merchandise and clothing. They expect first half underlying profit before tax to reduce by £50m year on year due to cost savings, unseasonal weather, strong comparative trading period last year and high marketing costs. 

United Utilities reported higher underlying profit and revenue for H1 2019, but said it expects debt to rise because of a repayment of £100m to its pension scheme and the impact of new reporting standards. They expect net debt to increase by around £250m.

 

 

Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

 

Upgrades/Downgrades:

 

BBA Aviation downgraded to Hold by Berenberg (Bloomberg: 5 buys/ 1 holds/ 0 Sells)

 

In Focus Today:

 

UK High Street Lending

 

US New Home Sales

 

 

Companies reporting today:

Babcock, Halma, United Utilities, Boohoo, Sophos

 

 

Companies reporting tomorrow:

Carnival, Mitchells & Butler, DFS

 

Companies reporting Next week:

Pennon Group

 

(Full list available on Week in advance)

 

Tomorrow's Ex-Dividends this week:

Morrisons - 1.9%

 

Hargreaves Lansdown - 1.6%

 

Smurfit Kappa Group - 1.0%

 

IG Group - 5.1%

 

Bovis Homes - 1.9%

 

(Full list available on Week in advance)

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