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Morning Report - 11 December 2019

Yesterday’s UK 100 Leaders Price (p) % Chg
HIKMA PHARMACEUTICALS PLC 1,943.0 1.8%
GLAXOSMITHKLINE PLC 1,750.2 1.3%
RECKITT BENCKISER GROUP PLC 5,999.0 1.0%
STANDARD CHARTERED PLC 682.8 0.7%
ST JAMES’S PLACE PLC 1,100.0 0.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
ASHTEAD GROUP PLC 2220.0 -6.2%
ROLLS-ROYCE HOLDINGS PLC 701.0 -3.3%
WM MORRISON SUPERMARKETS 197.2 -3.3%
BUNZL PLC 2062.0 -2.1%
MONDI PLC 1614.0 -2.0%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,214 -0.3% 6.0%
DOW JONES INDUS. AVG 27,882 -0.1% 14.4%
DAX INDEX 13,071 -0.3% 21.2%
NIKKEI 225 23,392 -0.1% 10.6%
S&P/ASX 200 INDEX 6,753 0.7% 21.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 58.93 -0.52%
Brent Crude (ICE) USD/bbl. 63.96 -0.59%
Gold Spot USD/t oz. 1,465 0.0%
Copper (Comex) USd/lb. 278 0.3%

 

UK 100 called to open +25 at 7238

UK 100 : 4 hours, 5 months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open +25 at 7238 this morning; Yesterday evening a new survey indicated Boris Johnson's Conservatives may win the U.K. election by a smaller margin than previously predicted. This saw the pound fall, could this be good news for some of the UK Index heavyweights who report in USD? It was a mixed trading session in Asia, with the Nikkei subdued closing the day -8 points, whilst the Hang Seng had a far more positive session closing +207 points. In the U.S we saw a marginally negative trading session, but in the main close to flat, the Dow Jones closed at 27881 (-28 points), the S&P -4 points and the Nasdaq -5 points. Oil prices remained in focus overnight holding above $64.3 (support dating back to the start of the week). Whilst investor safe haven gold continued to tread water at $1464.

 

In corporate news this morning:

 

HSBC will pay $192.4m to resolve a U.S. probe of its role in helping wealthy Americans evade taxes by using undeclared Swiss bank accounts.

 

Ryanair announce that it may not receive any 737 Max aircraft from Boeing in time for its summer season due to European delays in testing the grounded jets.  

 

Saga appoint Euan Sutherland as group CEO with effect from 6th Jan 2020. 

Stagecoach announce solid financial results in their half year trading update. Statutory EPS of 9.8p (H1 2019: loss per share 5.5p). London bus profit ahead of start of year expectations and regional bus revenue growth rate recovering. Net debt £392.6m (H1 2019: £342.3m). Interim dividend maintained with no change to 2019/20 EPS expectations. 

 

Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

 

Upgrades/Downgrades:

 

Anglo American Downgraded to Hold by Renaissance Capital (Bloomberg: 14 buys/ 8 holds/ 4 sells)

 

Antofagasta Downgraded to Hold by Jefferies (Bloomberg: 7 buys/ 10 holds/ 6 sells)

 

Hiscox Downgraded to Hold by Numis (Bloomberg: 5 buys/ 6 holds/ 4 Sells)

 

International consolidated airlines group Upgraded to Buy by Societe Generale (Bloomberg: 27 buys/ 4 holds/ 0 sells)

 

SSP Group Upgraded to Overweight by Morgan Stanley (Bloomberg: 9 buys/ 7 holds/ 1 Sells)

 

 

In Focus Today:

 

US CPI

 

FOMC Interest Rate Decision

 

 

Companies reporting today:

 

British American Tobacco, Ted Baker, Tui

 

Companies reporting Next Week:

 

Thursday: Dixon’s Carphone, Superdry, Versarian, Ocado, PZ Cussons, Serco Group

 

Friday: Balfour Beatty

 

(Full list available on Week in advance)

Tomorrow's Ex-Dividends:

 

UK 100

 

3i Group - 1.6%

 

Associated British Foods (ABF - Owner of Primark) - 1.37%

 

 

Marston’s - 3.72%

 

Cineworld - 1.34%

 

Cranswick - 0.54%

 

 

(Full list available on Week in advance)

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