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Morning Report - 8 October 2020

Wednesday’s UK 100 Leaders Price (p) % Chg
ROLLS-ROYCE HOLDINGS PLC 156.7 4.4%
CRH PLC 3,025.0 3.0%
GLENCORE PLC 169.4 2.8%
FRESNILLO PLC 1,287.5 2.7%
KINGFISHER PLC 303.9 2.5%

 

Wednesday’s UK 100 Laggards Price (p) % Chg
M&G PLC 160.5 -3.3%
RELX PLC 1676.0 -3.0%
AVAST PLC 502.5 -2.8%
BRITISH LAND CO PLC 360.1 -2.4%
DCC PLC 5368.0 -2.4%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 5,946 -0.1% -17.4%
DOW JONES INDUS. AVG 28,303 1.9% 6.9%
DAX INDEX 12,929 0.2% 6.9%
NIKKEI 225 23,423 -0.1% 8.5%
S&P/ASX 200 INDEX 6,036 1.3% -8.5%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 40.04 -1.55%
Brent Crude (ICE) USD/bbl. 42.15 -1.17%
Gold Spot USD/t oz. 1,887 0.0%
Copper (Comex) USd/lb. 303 2.3%
UK 100 called to open +25 points this morning at 5970

4 Hours; 5 Months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open +25 points this morning at 5970. Calls for a positive open come after Yesterday stateside we saw The Dow Jones climb by 530.70 points, or 1.9%, to close at 28,303.46, for its best single day of trading since July. The S&P 500 also advanced on Wednesday, by 1.7% to close at 3,419.45 & The Nasdaq Completed an all green day on Wall Street closing 1.9% higher at 11,364.60. The major indices took a leg up after President Donald Trump tweeted his support for aid to airlines and other stimulus measures, giving investors fresh hope that a smaller aid package could be passed.  This positive sentiment filtered through into Asia, as A whole host of Asian shares climbed to a one-month high on Thursday.   Japan’s Nikkei 225 index climbed by 254 points or 1.09% to trade at 23,668, in Hong Kong however, the Hang Seng slipped 152 points or 0.6% to 24,094. The Shanghai Composite was down 0.2% at 3,218.

 

Company News:

 

EasyJet have warned it would report a loss of as much as £845m in its last financial year and said it continued to review its finances as travel remains subdued by the ongoing pandemic. They have also signalled to the government that it may need further financial support.

 

GVC Holdings have raised its estimates of annual core earnings after posting stronger Q3 revenue, helped by a surge in online gaming and as sports events such as the English Premier League resumed. They reported FY EBITDA of between £770-790m, as net gaming revenue rose 12% in Q3.

 

Hargreaves Lansdown say they have taken on £800m of net new business in Q3, despite what is described as weakening investor sentiment arising from COVID-19 and fresh Brexit uncertainty. They also added 31,000 net new clients over the period, taking their active client numbers to 1.44m, while assets under administration rose 3% to £106.9bn.

 

Imperial Brands have forecast FY net revenue to be broadly flat and in line with market estimates, as it works through the impact of the coronavirus pandemic. The forecast is slightly above guidance, however the company forecast EPS to be down around 6%, also in line with market expectations, due to increasing its provisions because of COVID-19-related uncertainties.

 

Reporting Today:

 

Electrocomponents PLC

Hargreaves Lansdown

CMC Markets

Delta Air

Imperial Brands

 

 

Reporting Friday:

 

JD Wetherspoon

Stagecoach

 

 

In Focus Today:

 

ECB Monetary Policy Meeting Accounts

US Initial Jobless Claims

 

 

Today's Ex Dividends:

 

UK 100:

 

Spirax-Sarco Engineering

WPP

 

UK 250:

 

Finsbury Growth & Income Trust

PZ Cussons

F&C Investment Trust

QinetiQ Group

888 Holdings

 

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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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


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