Markets Overview:

UK 100 called to open +200 points at 6170; Stocks showed signs of stabilisation with a rebound in Asian trading Tuesday after the deepest equity rout since the global financial crisis. Futures on the S&P 500 Index gained more than 3% after the gauge’s near 8% plunge Monday, and benchmarks rose in Hong Kong (+472 points) and Shanghai (+85 points). Japan closed higher (+168 points) after sliding 4% at one point. Oil clawed back some losses after its biggest drop in three decades as investors grappled with simultaneous supply and demand shocks and the most volatile market on record. Futures in New York rose more than 7% after losing a quarter of their value Monday in the biggest plunge since the 1991 Gulf War.

Company News:

Cairn's delivered strong operational performance in 2019 through production and cash flow generation at the top end of guidance and the Group ended the year with an increased net cash position and undrawn debt facilities.  Net oil production averaged ~23,000 bopd, at upper end of guidance (2018: 17,500 bopd).  Oil and gas sales revenue US$504m (2018: US$396m), average realised oil price US$65.70/bbl; average production cost US$17.4/boe.  Operating profit US$155m (2018: Operating loss US$129m)

Domino’s Pizza Group announces the appointment of Matt Shattock as director and chairman with effect from next week.

Informa Group delivered a sixth consecutive year of growth in revenues, adjusted operating profits, adjusted earnings per share, free cash flow and dividends.

M&G said they had delivered a positive financial performance in a challenging market.   Assets under management and administration increased to £352 billion.  Looking forward, While the long-term outlook for savings and investments is positive because of the structural shifts in societies, M&G said the industry faces a number of challenges in the short-term.

Standard Life Aberdeen reports FY adjusted pre-tax profit down 10% to £584m on outflows as investors continued to pull money from its funds. Fee based revenue fell 13% to £1.63bn amid outflow of £17.4bn, largely from its equities and multi-asset products.

TP ICAP improved its underlying and reported operating profitability, despite the mixed geopolitical environment, whilst completing successfully the ICAP integration programme.  Group revenue of £1,833m grew 4%.  Profit before tax rose from £62m to £93m.

Reporting Today:

Cairn Energy

Standard Life Aberdeen

Informa

John Wood Group

TP ICAP

Close Brothers Group

DFS

Reporting Tomorrow:

Prudential

Balfour Beatty

G4S

In Focus Today:

CN - Chinese CPI

EU - Gross Domestic Product

This Weeks's Ex Dividends:

UK 100 :

Land securities

Anglo American

CRH

:

Jupiter Fund Management

GVC holdings

Assura

Upgrades/Downgrades

Coca-Cola Downgraded to In-Line by Evercore ISI (Bloomberg: 10 Buys/ 7 Holds/ 0 Sells)

Easyjet Upgraded to Outperform by Bernstein (Bloomberg: 10 Buys/ 13 Holds/ 3 Sells)

Moneysupermarket Upgraded to Sector Perform by RBC Capital Markets (Bloomberg: 7 Buys/ 4 Holds/ 1 Sells)

Relx Upgraded to Hold by Morningstar (Bloomberg: 13 Buys/ 8 Holds/ 2 Sells)

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