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Morning Report - 14 November 2019

Yesterday’s UK 100 Leaders Price (p) % Chg
COCA-COLA HBC AG-DI 2,503.0 6.1%
OCADO GROUP PLC 1,133.5 5.5%
FRESNILLO PLC 655.8 4.8%
SMITHS GROUP PLC 1,668.0 3.1%
POLYMETAL INTERNATIONAL PLC 1,190.0 2.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
ITV PLC 133.4 -3.6%
BRITISH LAND CO PLC 556.2 -3.3%
HARGREAVES LANSDOWN PLC 1744.0 -3.3%
ST JAMES’S PLACE PLC 1039.5 -2.6%
HSBC HOLDINGS PLC 574.2 -2.5%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 7,351 -0.2% 4.5%
DOW JONES INDUS. AVG 27,784 0.3% 10.8%
DAX INDEX 13,230 -0.4% 15.9%
NIKKEI 225 23,142 -0.8% 5.9%
S&P/ASX 200 INDEX 6,735 0.6% 17.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 57.54 0.74%
Brent Crude (ICE) USD/bbl. 62.78 0.66%
Gold Spot USD/t oz. 1,467 0.2%
Copper (Comex) USd/lb. 264 0.2%
UK 100 called to open -20 points at 7330

UK 100 : 4 Hours, 18 days

Click graph to enlarge

Markets Overview:

 

UK 100 called to open -20 at 7330; On the back of Chinese data in October missing consensus and marked the slowest pace since at least 1998. Japan's GDP expanded 0.2%, shy of the 0.9% forecast, and Australia's jobless rate unexpectedly rose.  Trading in the US showed signs of investor confidence growing once more, the Dow Jones closed +92 points, whilst the S&P and Nasdaq closed flat, recovering from a fall earlier in the trading session.  In picture was more bleak in Asia, on the back of above mentioned data, the Nikkei closed -178 points & the Hang Seng followed yesterdays 2% fall, losing a further 1% (-285 points).  Oil prices rose slightly overnight to sit just below $63.  Gold rose slightly but still sits $90 off recent highs at $1466.

 

In corporate news this morning:

 

AstraZeneca announce that the US FDA accepts regulatory submission for selumetinib in neurofibromatosis type 1 and grants priority review. 

 

BHP today announced that Mike Henry has been appointed Chief Executive Officer (CEO) of BHP, effective January 1st 2020.

 

Burberry reported growth in Q2 sales, which helped it offset double-digit declines in Hong Kong. where trading has been severely hampered by political protests. First half revenue increased 3%, where comparable sales grew to 5%, up from 4% in the last quarter.

 

IQE have been awarded the 2019 Raytheon Supplier Excellence Award. 

 

National Grid delivered solid financial performance and continued to deliver strong organic growth at the top end of the 5 to 7% range.  Statutory operating profit -1% YoY; Statutory profit before tax -23% YoY; EPS -11% YoY.

Premier Oil trading update states that forecast for FY production at upper end of 75-80,000 boepd guidance. Group production averaged 79.4 kboepd for 10 months period with high operating efficiency of 94%. Net debt reduced by $300m to $2.03bn; underpinning FY net debt reduction guidance in excess of $300m.

 

 

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

 

Upgrades/Downgrades:

 

AG Barr Upgraded to Hold by Numis Securities (Bloomberg: 1 Buy/ 5 Holds/ 3 Sells)

 

DCC Downgraded to Neutral by Exane BNP Paribas (Bloomberg: 12 Buys/ 3 Holds/ 0 Sell)

 

ITV Downgraded to Hold by Kepler Cheuvreux (Bloomberg: 7 Buys/ 12 Holds/ 1 Sell)

 

Tullow Oil Downgraded to Hold by Jefferies (Bloomberg: 15 Buys/ 7 Holds/ 1 Sell)

 

 

In Focus Today:

 

Chinese Retail Sales

 

German GDP

 

Eurozone GDP

 

 

Companies reporting today:

 

Bunzl, Spire Healthcare, Burberry, Mediclinic, National Grid, Premier Oil

 

Companies reporting Tomorrow:

 

None

 

(Full list available on Week in advance)

 

Today's Ex-Dividends:

 

Bunzl - 0.75%

 

Royal Dutch Shell A - 1.56%

 

Royal Dutch Shell B - 1.56%

 

GlaxoSmithKline - 1.1%

 

 

(Full list available on Week in advance)

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