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Morning Report - 1 June 2020

Yesterday’s UK100 Leaders Price (p) % Chg
OCADO GROUP PLC 2,191.0 4.2%
BRITISH LAND CO PLC 407.3 2.5%
AUTO TRADER GROUP PLC 558.2 2.2%
UNITED UTILITIES GROUP PLC 917.6 2.0%
AVEVA GROUP PLC 4,088.0 1.3%

 

Yesterday’s UK100 Laggards Price (p) % Chg
ROLLS-ROYCE HOLDINGS PLC 271.6 -14.9%
CARNIVAL PLC 1057.5 -10.7%
MELROSE INDUSTRIES PLC 115.2 -8.5%
EASYJET PLC 680.0 -8.1%
COMPASS GROUP PLC 1184.0 -7.5%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 6,077 -2.3% -15.2%
DOW JONES INDUS. AVG 25,383 -0.1% 2.3%
DAX INDEX 11,587 -1.7% -1.2%
NIKKEI 225 21,878 -0.2% 6.2%
S&P/ASX 200 INDEX 5,756 -1.6% -10.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 35.49 5.28%
Brent Crude (ICE) USD/bbl. 37.84 5.02%
Gold Spot USD/t oz. 1,730 0.7%
Copper (Comex) USd/lb. 243 0.5%
UK 100 called to open +75 points at 6150. 

4 hours; 3 months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open +75 points at 6150. The UK 100 looks set to make a positive start to the week, drawing comfort from the fact Washington stopped short of a full-blown escalation of the trade war with China over Hong Kong & investors welcomed this week's gradual reopening of businesses in England.  Shares in Asia rallied to three-month highs with the Hang Seng leading the way with a 3.4% gain after the US said it would simply revoke special trading privileges for the former British colony.

 

Company News:

 

Associated British Foods is looking to re-open all of its Primark stores by 15th June 2020. They have estimated that loss of sales because of their store closures due to COVID-19 was £650m for every month the stores were closed. It remains too early to resume guidance for the remainder of the current financial year.

 

Balfour Beatty report a strong Q1 2020, but the coronavirus lockdown has had a material impact on financial performance across all divisions. As a result they have decided to cancel their final dividend of 2019.

 

Dart Group announces that it has completed the sale of its distribution and logistics business, Fowler Welch to Culina Group Ltd for £98m.

 

Ted Baker posts FY pretax loss of £79.9m (2019: profit £30.7m). They plan to raise £95m through a stock issue to help it ride out the challenges posed by coronavirus. The company'e revenue slumped 36% for the 14 week period (Jan 26th - May 2nd) mainly due to COVID-19.

 

Reporting Today:

 

Hollywood Bowl

 

Reporting Tomorrow:

 

Card Factory

 

In Focus Today:

 

CN - Caixin Manufacturing PMI

GER - Markit Manufacturing PMI

UK - Manufacturing PMI

US - ISM Manufacturing PMI

US - Construction Spending

 

This Week's Ex Dividends:

 

UK 100:

 

Scottish Mortgage IT

 

UK 250:

 

ContourGlobal

HICL Infrastructure

Alliance Trust

AJ Bell

 

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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