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Morning Report - 18 March 2020

Yesterday’s UK 100 Leaders Price (p) % Chg
ANTOFAGASTA PLC 720.2 16.1%
JUST EAT TAKEAWAY 6,560.0 10.5%
OCADO GROUP PLC 1,361.0 10.4%
ADMIRAL GROUP PLC 2,232.0 10.1%
SCHRODERS PLC 2,342.0 10.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
JD SPORTS FASHION PLC 342.3 -18.0%
MEGGITT PLC 315.8 -17.4%
CARNIVAL PLC 942.6 -15.8%
ITV PLC 65.4 -12.6%
TUI AG-DI 280.4 -10.8%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 5,295 2.8% -27.5%
DOW JONES INDUS. AVG 21,237 5.2% -18.1%
DAX INDEX 8,939 2.3% -23.5%
NIKKEI 225 16,727 -1.7% -22.5%
S&P/ASX 200 INDEX 4,953 -6.4% -20.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 26.29 -2.45%
Brent Crude (ICE) USD/bbl. 28.28 -1.57%
Gold Spot USD/t oz. 1,510 -1.2%
Copper (Comex) USd/lb. 222 -4.2%
UK 100 called to open -210 points at 5080

UK 100 : 15 Minutes, 7 days

Click graph to enlarge

Markets Overview:

 

UK 100 called to open -210 points at 5080.  U.S. stock futures slid, hitting exchange-enforced bands that prevent further losses, as investors assess the Trump administration’s beefed up policy response to the coronavirus. Contracts on the S&P 500, Nasdaq 100 and Dow Jones Industrial Average all reached the so-called limit down level, however since then, the market has recovered somewhat.  Boris Johnson’s government announced a massive rescue package of loans and grants for businesses in a desperate attempt to stop the coronavirus pandemic wrecking the U.K. economy.  OIl once again dropped below $30 as the Saudi/Russian oil war continued, driving Brent Crude to $28.81 a barrel.

 

Company News:

 

Ferrexpo  delivered strong cash flow generation which is up 62% year on year. This has enabled us to allocate capital to further reduce debt, to increase investment to drive medium term growth, and to pay record dividends to shareholders.  Revenue up 18% to US$1.5 billion due to higher iron ore fines prices and an increase in sales volumes

 

Morrisons released results this morning, Group like-for-like sales ex-fuel/ex-VAT down 0.8% (2018/19: up 4.8%).  Total revenue down 1.1% to £17.5bn (2018/19: £17.7bn).  Profit before tax and exceptionals up 3.0% to £408m (2018/19: £396m).  EPS before exceptionals up 2.6% to 13.18p (2018/19: 12.85p).  Sales have been improving since the start of 2020, and improved again recently with retail contribution to LFL flat for the first four weeks of 2020/21. This is despite the significant deflationary impact of our continued investment in becoming more competitive for customers. During the last two weeks, there has been considerable stocking up and sales pull-forward as customers plan for the impact of COVID-19. Overall, for the first six weeks of 2020/21, retail contribution to LFL was 5.0.

 

Restaurant Group this morning announced has been reviewing the rapidly evolving situation relating to Covid-19 and has modelled a scenario of the potential financial outcome in the coming months.  It is now clear that the increasing effects of Covid-19 will result in a material reduction in expectations for revenue and profit across the business for the first half of this financial year

 

Reporting Today:

 

Ferrexpo

 

Morrisons

In Focus Today:

 

US - Fed Interest Rate

 

This Week's Ex Dividends:

 

UK 100 :

 

Meggitt

Berkeley Group

Segro

Hikma

 

:

 

Hammerson

Crest Nicholson

B&M European Retail

Close Brothers

Dominos

Dunelm

Galliford

 

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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