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Morning Report - 1 July 2019

Friday’s UK 100 Leaders Close (p) Chg (p) % Chg % YTD
BA-owner IAG 476.9 22.6 5.0 -22.8
Berkeley Group 3731 150 4.2 7.2
Burberry 1862 73 4.1 7.3
Flutter Entertainment 5928 228 4.0 -7.4
Glencore 273.35 9.5 3.6 -6.2
Friday’s UK 100 Laggards Close (p) Chg (p) % Chg % YTD
Imperial Brands 1846.8 -43 -2.3 -22.3
Bunzl 2077 -38 -1.8 -12.3
Intertek 5502 -80 -1.4 14.6
BT 196.46 -2.3 -1.1 -17.5
InterContinental Hotels 5172 -57 -1.1 16.0
Major World Indices Mid/Close Chg % Chg % YTD
UK UK 100 7,425.6 23.3 0.3 10.4
UK 19,462.0 147.6 0.8 11.2
FR CAC 40 5,539.0 45.4 0.8 17.1
DE DAX 30 12,398.8 127.8 1.0 17.4
US DJ Industrial Average 30 26,600.0 73.5 0.3 14.0
US Nasdaq Composite 8,006.2 38.5 0.5 20.7
US S&P 500 2,941.8 16.8 0.6 17.4
JP Nikkei 225 21,730.0 454.1 2.1 8.6
HK Hang Seng Index 50 28,542.6 -78.8 -0.3 10.4
AU S&P/ASX 200 6,648.1 29.3 0.4 17.7
Commodities & FX Mid/Close Chg % Chg % YTD
Crude Oil, West Texas Int. ($/barrel) 59.24 -0.1 -0.2 30.4
Crude Oil, Brent ($/barrel) 65.47 0.0 0.0 20.9
Gold ($/oz) 1410.60 -0.6 0.0 10.0
Silver ($/oz) 15.25 0.0 0.0 -1.4
GBP/USD – US$ per £ 1.2685 -0.08 -0.4
EUR/USD – US$ per € 1.1330 -0.53 -1.0
GBP/EUR – € per £ 1.1195 0.45 0.6
UK 100 called to open +70pts at 7490

UK 100 : 8-week, 4-hourly

Click graph to enlarge

Markets Overview:

UK Index Called to open +70 points, on the back of this weekend's G20 summit in Japan, where, US-China trade talks boosted sentiment along with Trump visiting North Korea to restart nuclear talks. Note the US Dow hit new all time highs on Friday. China PMI Manufacturing disappointed overnight, but this only increased expectations of more stimulus from Beijing. Gold declined, as oil passed $60 on a deal between Russia and Saudi Arabia to extend the OPEC+ production deal.

In corporate news this morning:

Strategic European Investment Group mulling £10/share offer for 3% of Aston Martin

AstraZeneca’s Fasenra receives positive EU CHMP opinion for self-administration and the new Fasenra pen, a pre-filled, single-use auto-injector.

Glencore: Congo's interior minister vowed to remove all illegal miners by Sunday from a copper and cobalt mine run by Glencore following a landslide this week that killed at least 43 of them.

Rio Tinto says Barbara Levi (Group Legal Head, M&A and Strategic Transactions for Novartis) to succeed Philip Richards (retiring) as Group executive, Group General Counsel.

A coalition, including Legal & General, Schroders, with over $14tn in assets under management, is calling on the likes of Walmart,, Novartis, Rio Tinto, Coca-Cola, Royal Bank of Canada, BP and Siemens to provide better data on how they manage their staff and workers in supply chains.

Fresnillo applies uniform taxation to all Mexico underground mines.

Hurricane Energy has decided to abandon its ‘Warwick Deep’ Well

In focus today:

OPEC Meeting (2 day), UK, US and Eurozone PMI Manufacturing and UK Mortgage approvals.

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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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Prepared by Michael van Dulken, Head of Research
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