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Morning Report - 1 July 2021

Wednesday’s UK 100 Leaders Price (p) % Chg
COMPASS GROUP PLC 1,522.0 1.9%
SAINSBURY (J) PLC 271.8 1.1%
SCOTTISH MORTGAGE INV TR PLC 1,331.0 0.8%
INTERCONTINENTAL HOTELS GROU 4,810.0 0.5%
NEXT PLC 7,856.0 0.4%
Wednesday’s UK 100 Laggards Price (p) % Chg
PRUDENTIAL PLC 1373.5 -3.6%
EVRAZ PLC 592.0 -3.3%
INTERMEDIATE CAPITAL GROUP 2124.0 -3.0%
OCADO GROUP PLC 2003.0 -2.9%
JUST EAT TAKEAWAY 6692.0 -2.7%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,037 -0.7% 14.3%
DOW JONES INDUS. AVG 34,503 0.6% 34.1%
DAX INDEX 15,531 -1.0% 26.7%
NIKKEI 225 28,707 -0.3% 29.7%
S&P/ASX 200 INDEX 7,266 -0.7% 22.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 73.73 0.35%
Brent Crude (ICE) USD/bbl. 75.13 0.49%
Gold Spot USD/t oz. 1,779 0.5%
Copper (Comex) USd/lb. 427 -0.5%
The UK 100 is called to open +35 points today at 7070.

1 Day; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +35 points today at 7070. In focus today will be data releases which could potentially provide the next catalyst for markets, with both UK & US manufacturing PMI data out today, along side US jobless claims. Stocks in Asia were mostly lower on Thursday as Chinese factory activity growth slowed in June. In Japan, the Nikkei fell 0.43%. The Shanghai Composite in China rose 0.23% while Hong Kong’s Hang Seng index slipped 0.57%. On Wednesday, the Dow Jones rose 210 points, helped by a 2.7% rise in Walmart. The S&P registered a gain of 0.13% to close at a fresh record of 4,297.50. The Nasdaq however was the relative underperformer, dipping 0.2% as Facebook, Amazon, Netflix and Google-parent Alphabet closed lower.


Company News & Broker Comments:

Company News:

 

AO World reported that their annual profit has nearly tripled on strong demand for home appliances and office products due to the COVID-19 pandemic. Its adjusted core profit rose to £64m (2020: £22m profit) as group sales jumped 62%.
Associated British Foods Q3 sales at its Primark fashion stores which reopened after COVID-19 lockdowns were ahead of expectations in all markets. Primark revenues reached £1.6bn, up from £0.6bn in the same period last year.
Micro Focus reported a smaller loss for H1 as it slashed costs and said it had set aside $70m to resolve a patent infringement dispute with U.S. firm Wapp. They reported a statutory operating loss from continuing operations of $154.8m (2020: $906.7m loss).

£48.1m.

Broker Comments:

Credit Suisse Upgrades Legal & General to Outperform from Underperform (7 Buys / 4 Holds / 2 Sells)
Credit Suisse Upgrades Standard Chartered to Neutral from Underperform (11 Buys / 3 Holds / 1 Sell)

 

Reporting Today:

 

AO World

Associated British Foods

Micro Focus

 

Reporting Tomorrow:

 

None

 

In Focus Today:

US ISM Manufacturing PMI

Chinese Caixin Manufacturing PMI

German Markit Manufacturing PMI

UK Markit Manufacturing PMI

EU Unemployment Rate

OPEC Meeting

US Markit Manufacturing PMI

 

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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