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Morning Report - 17 March 2020

Yesterday’s UK 100 Leaders Price (p) % Chg
EVRAZ PLC 243.3 6.3%
SAGE GROUP PLC/THE 612.8 5.3%
INTERTEK GROUP PLC 4,770.0 5.2%
OCADO GROUP PLC 1,233.0 4.2%
HARGREAVES LANSDOWN PLC 1,358.0 2.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
INTL CONSOLIDATED AIRLINE-DI 255.7 -27.0%
M&G PLC 109.4 -25.2%
EASYJET PLC 634.8 -19.3%
JD SPORTS FASHION PLC 417.2 -18.6%
COCA-COLA HBC AG-DI 1574.0 -15.0%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 5,151 -4.0% -28.7%
DOW JONES INDUS. AVG 20,189 -12.9% -21.9%
DAX INDEX 8,742 -5.3% -25.2%
NIKKEI 225 17,012 0.1% -20.7%
S&P/ASX 200 INDEX 5,293 5.8% -14.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 29.99 4.49%
Brent Crude (ICE) USD/bbl. 30.89 2.80%
Gold Spot USD/t oz. 1,486 -1.9%
Copper (Comex) USd/lb. 240 0.2%
UK 100 called to open +220 points at 5288

UK 100 : 4 hours, 4 months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open +220 points at 5288.  In a far more buoyant start to the trading day than we have seen recently, U.S. futures advanced and the yen slid in volatile trading after the biggest plunge in Wall Street stocks since 1987. Asia-Pacific shares ranged from a further drop in South Korea to gains in Australia. Japan’s share benchmark ended up more than 2% after swinging between gains to losses.  Oil rebounded from overnight lows of sub $30 a barrel to trade at $31.15 at time of writing, with futures looking stronger still.   The more risk on appetite of traders has seen gold slip back to $1487 as the traditional safe haven slips back $200 from last weeks high!

 

Company News:

 

AstraZeneca this morning announced results from the final analysis of the Phase III CASPIAN drug trial showed Imfinzi (durvalumab) in combination with a choice of standard-of-care (SoC) chemotherapies confirmed a sustained, clinically meaningful overall survival (OS) benefit for patients with extensive-stage small cell lung cancer (ES-SCLC) treated in the 1st-line setting.

 

Anglo American/Sirius Minerals The listing of Sirius Shares on the Official List and the admission to trading of Sirius Shares on the London Stock Exchange's Main Market for listed securities are, in each case, expected to be cancelled with effect from 8.00 a.m. (London time) today, 17 March 2020, following acquisition on Sirius Minerals by Anglo Americn.

 

Antofagasta delivered results this morning stating in 2019 they had delivered record copper production and safety performance, a strong balance sheet and low cash costs resulting in EBITDA increasing by 9.5% to $2.4 billion, 2020 has begun with an unprecedented global challenge in the form of COVID-19.

 

Ferguson today released results showing ongoing revenue 4.3% ahead of last year with continued market share gains in the US.  US revenue growth of 5.0% and underlying trading profit growth of 5.7%.    Interim dividend of 67.5c up 7.0%.  UK demerger on track for completion this calendar year.

 

Reporting Today:

 

Ferguson

Softcat

Antofagasta

In Focus Today:

 

UK - ILO Unemploment rate

EU - German ZEW Survey

US - Retail Sales Data

 

This Week's Ex Dividends:

 

UK 100 :

 

British Land

Royal Bank Of Scotland

Pearson

British American Tobacco

Schroders

Prudential

 

:

 

Go-Ahead Group

 

Upgrades/Downgrades

 

 

HSBC Downgraded to Sell by AlphaValue (Bloomberg: 17 Buys / 8 Holds / 2 Sells)

 

Lloyds Downgraded to Sell by AlphaValue (Bloomberg: 15 Buys / 7 Holds / 4 Sell)

 

Petrofac Upgraded to Buy by Goldman Sachs (Bloomberg: 5 Buys / 13 Holds / 0 Sell)

 

 

RELX Upgraded to buy by Morningstar (Bloomberg: 15 Buys / 6 Holds / 2 Sell)

 

 

Standard Chartered Upgraded to Hold by HSBC (Bloomberg: 12 Buys / 3 Holds / 8 Sells)

 

Tui Downgraded to Sell by Nord/LB (Bloomberg: 5 Buys / 12 Holds / 6 Sell)

 

Tullow Oil Downgraded to Underperform by Jefferies (Bloomberg: 7 Buys / 12 Holds / 4 Sell)

 

Unilever Upgraded to Neutral by J.P.Morgan (Bloomberg: 11 Buys / 6 Holds / 3 Sell)

 

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.

 


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