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| Yesterday’s UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| Vodafone Group PLC | 126.4 | 2.1 | 1.7 | -17.3 |
| Imperial Brands PLC | 2187.5 | 25.5 | 1.2 | -8 |
| Evraz PLC | 575.6 | 6.6 | 1.2 | 19.8 |
| Fresnillo PLC | 737.2 | 6.2 | 0.8 | -14.3 |
| British American Tobacco PLC | 2972 | 14.5 | 0.5 | 18.9 |
| Yesterday’s UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Coca-Cola HBC AG | 2672 | -192 | -6.7 | 9 |
| TUI AG | 775 | -53.2 | -6.4 | -31.1 |
| Barratt Developments PLC | 586.8 | -26.8 | -4.4 | 26.8 |
| Taylor Wimpey PLC | 171.5 | -6.1 | -3.4 | 25.9 |
| easyJet PLC | 990 | -35 | -3.4 | -10.4 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,310.9 | -37.7 | -0.5 | 8.7 |
| UK | 19,335.6 | -163.0 | -0.8 | 10.5 |
| FR CAC 40 | 5,358.6 | -79.6 | -1.5 | 13.3 |
| DE DAX 30 | 12,041.3 | -197.6 | -1.6 | 14.0 |
| US DJ Industrial Average 30 | 25,680.0 | -84.0 | -0.3 | 10.1 |
| US Nasdaq Composite | 7,702.4 | -113.9 | -1.5 | 16.1 |
| US S&P 500 | 2,840.2 | -19.3 | -0.7 | 13.3 |
| JP Nikkei 225 | 21,249.9 | -51.8 | -0.2 | 6.2 |
| HK Hang Seng Index 50 | 27,781.5 | -6.1 | 0.0 | 7.5 |
| AU S&P/ASX 200 | 6,495.1 | 19.0 | 0.3 | 15.0 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 63.54 | 0.0 | 0.1 | 39.9 |
| Crude Oil, Brent ($/barrel) | 72.25 | -0.5 | -0.7 | 33.4 |
| Gold ($/oz) | 1276.34 | -1.3 | -0.1 | -0.5 |
| Silver ($/oz) | 14.48 | -0.3 | -2.1 | -6.4 |
| GBP/USD – US$ per £ | 1.2722 | – | 0.0 | -0.2 |
| EUR/USD – US$ per € | 1.1155 | – | -0.1 | -2.7 |
| GBP/EUR – € per £ | 1.1404 | – | 0.1 | 2.6 |
Click graph to enlarge
UK 100 called to open +16pts at 7326, still on a slight upward movement from yesterday’s positive open, still within a narrow range under the floor of previous multi-month range and current support. Bulls need a break above yesterday’s 7371 high in order to break back into the range. Bears require a breach of 7285 to start testing previous lows towards May’s lows. Watch levels: Bullish 7375, Bearish 7280.
Calls for a positive open come after a surprisingly positive session in Asia, amidst yesterday’s trade talk tension and Google suspending certain business with Huawei.
US markets weren’t spared the fallout from the Huawei ban however, as the NASDAQ dropped 1.46% as chip makers and tech stocks took a hit.
Gold ($1276) is still moving to the downside after the bearish trend started last Tuesday amidst investors slowly edging back into equities. Brent Crude Oil ($72.4) slightly to the downside, caught between the negative impact of the US-China trade talks and the positive nudges of supply in the thick of US-Iran taunts. GBP ($1.27) has found some support after two weeks of downside as internal political uncertainty weighs down the Sterling.
Severn Trent FY Results, pre-tax profit £574m, turnover £1.7b, raises dividend to 56.02p from 51.92p, Net debt +8.1%, strong 2H operational improvements in water operations gives confidence beyond FY20
Fresnillo backs FY19 guidance despite flat YoY revenue of $2.2b. Profits down, debt steady, cash and liquid funds at $560m. Company expects 2019 trading to be more difficult than the previous year.
Tesco is exploring sale of mortgage portfolio from its banking arm.
Anglo American reports fourth sale cycle fall in rough diamonds, -33% YoY.
Electrocomponents Q4 revenue +10.5%, +8% like-for-like, pre-tax profits +15.8%, operating profit +16.5%, full year dividend +11.7% (14.80p vs 13.25p), net debt +87% Yoy.
Entertainment One FY Results, revenue -9%, profit before tax +20%, net assets increased by £48.6m to £714m, profits hit by one-off charges.
UDG Healthcare Interim report, acquisition of two businesses for combined consideration of $106m.
Galliford Try Q1 Trading Update, anticipates FY consistent with expectations, restructure of Construction arm underway. Average net debt for the year expected to be in line with previous guidance, takes £40mln Write-down on Construction Unit
WH Smith Q1 Trading Update, Sales +15%, CEO to step down.
UK Inflation Report hearings (9:30am) will kick off the day with data possibly more pessimistic than previously forecast, not hitting the BoE’s target. This could make an already weak Sterling slide even more.
UK CBI Industrial Trends Orders (11am) is expected to stay at the same level (-5) as last month, still on the lower side, stabilising the downtrend since February.
Existing Home Sales (15pm) for April are estimated to be in the green once again and showing a 2.7% growth since March’s negative of 4.9%. Any growth in home sales could push the dollar to the upside and negatively impact the UK Index .
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Prepared by Michael van Dulken, Head of Research