Markets Overview:

UK 100 called to open +3 points this morning at 6293.  This comes on the back of a solid week for the UK 100 and the Dow Jones, earnings season kicked off properly in the US with most of the major banks reporting and exceeding expectations.  This paired with signs of a possible reduction of a seemingly ever steepening Covid-19 cases curve in the US brought back elements of investor confidence.  In focus this week will be a continuation of big names reporting, both Microsoft and Tesla report this week (The latter will be hoping to report a profit for the first time in the companies history) on the back of a tough week for tech stocks, could this be the catalyst to see these tech giants once again rise and drive the Nasdaq back to all time highs of a couple of weeks ago?  Also in focus today will be AstraZeneca and Oxford University who reportedly will release phase one data Monday on their coronavirus vaccine candidate. Those early reports suggest a strong antibody response as well as "killer T-cell" production in healthy adults. A phase three trial is already underway.  Asian markets traded lower overnight as investors focused on a potential stalemate in EU virus recovery summit talks, as leaders warned talks could still fail.  Brent crude trades at $42.88 a barrel, down 26 cents, while Gold changes hands for $1,811.70 an ounce, up $1.70.

Company News:

GlaxoSmithKline  announced the signing of a strategic collaboration agreement for the research, development, manufacturing and commercialisation of up to five mRNA-based vaccines and monoclonal antibodies (mAbs) targeting infectious disease pathogens with CureVac. The collaboration complements GSK's existing mRNA capabilities with CureVac's integrated mRNA platform.

Petra Diamonds said today it has entered into an agreement to dispose of its exploration assets in Botswana, selling of 100% of its holding in Sekaka Diamonds Exploration to Botswana Diamonds PLC (“Botswana Diamonds”) for a total consideration of $300,000 and a 5% royalty on future diamond revenues should any of the prospects within the exploration licences be brought into production.

Premier Oil announce that it has  completed the sale and purchase agreements with BP for the acquisition of BP's interests in the Andrew Area and its Shearwater assets, reflecting the amended terms announced by the Company on 5^th June.  This follows the receipt of creditor approval for the BP Acquisitions. The BP Acquisitions remain conditional on agreeing the terms of the refinancing of Premier's existing credit facilities, equity funding and customary other approvals, including shareholder approval.

Reporting Today:

Equiniti

Ultra Electronics

Reporting Tuesday:

Intermediate Capital Group

In Focus Today:

CN - PBoC Interest Rate Decision

GER - Producer Price Index

This Weeks's Ex Dividends:

UK 100:

Pennon Group

SSE

UK 250:

Cranswick

Bankers Investment Trust

Sequoia Economic Infastructure Inc Fund

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