This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| TUI AG-DI | 841.0 | 4.6% |
| PERSIMMON PLC | 2,030.0 | 2.8% |
| DS SMITH PLC | 367.0 | 2.7% |
| JUST EAT PLC | 640.8 | 2.3% |
| OCADO GROUP PLC | 1,220.0 | 2.1% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| WHITBREAD PLC | 4685.0 | -4.4% |
| ITV PLC | 107.0 | -2.9% |
| CENTRICA PLC | 88.3 | -2.2% |
| DCC PLC | 6762.0 | -1.8% |
| WM MORRISON SUPERMARKETS | 205.7 | -1.8% |
| Major World Indices | Price | % Chg | 1 YEAR |
| UK 100 INDEX | 7,515 | 0.1% | -1.8% |
| DOW JONES INDUS. AVG | 27,172 | 0.1% | 8.5% |
| DAX INDEX | 12,289 | 0.2% | -2.1% |
| NIKKEI 225 | 21,615 | 0.9% | -3.5% |
| S&P/ASX 200 INDEX | 6,725 | 0.5% | 7.9% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 56.22 | 1.06% |
| Brent Crude (ICE) | USD/bbl. | 63.45 | 0.30% |
| Gold Spot | USD/t oz. | 1,418 | -0.5% |
| Copper (Comex) | USd/lb. | 273 | 0.1% |
Click graph to enlarge
UK 100 called to open +30pts at 7544; calls for a positive open come on the back of a positive overnight trading session in Asia seeing the Nikkei gaining almost 1%. This coupled with a positive close on all major U.S markets has seen positive read across to early European trading. This is driven in the main from fresh expectations of a Fed rate cut which in turn saw sterling lagging behind. Crude oil continued its bounce from weekend lows of $62 a barrel to reach levels of $64 overnight, gold pulled back slightly from $1425 to sit currently at time of writing at $1417.
Beazley announces profit before tax of $166.4m for 1H 2019. Announces increase in interim dividend to 4.1p (+5.1%). Expect to achieve double digit growth over the full year.
IQE announces the successful qualification, commencement of initial production and receipt of additional orders of wireless products for Asian supply chains.
Fevertree reports increased revenues +13%, £117.3m v £104.2m (H1 2018). Interim dividend +23% 5.2p. Board anticipates that the outcome for the full year will be in line with expectations.
PZ Cussons announces operating profit of £76.5m, -9.7% lower in constant currency. Profit before tax in line with expectations. Full year dividend of 8.28p per share maintained. Anticipate that current economic conditions will remain challenging.
Petropavlovsk 1H 2019, +12% increase in gold sales. Average realised gold price of $1,286 oz. On track to meet full year targets.
Rockhopper has signed a share purchase agreement with United Oil and Gas for the sale of Rockhopper Egypt for $16m.
Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
SMITH & NEPHEW Upgraded to Buy by Berenberg (Bloomberg: 4 Buys / 9 Holds / 4 Sell)
Persimmon Upgraded to Buy by Berenberg (Bloomberg: 11 Buys / 5 Holds / 1 Sells)
ECB Lending survey (9.00am)
U.K. FPC meeting minutes (9.30am)
Tory Leadership contest results (11.45am)
U.S. existing home sales data (3.00pm)
Company reporting day reaction:
Fevertree, Beazley, PZ Cussons, Petropavlovsk
Companies reporting tomorrow:
Antofagasta, Metrobank, GSK, ITV, Tullow Oil
This weeks ex-dividend shares:
SSE - 5.9%
Royal Mail - 7.7%
Pennon Group - 3.8%
Companies reporting this week:
Kaz Minerals, AstraZeneca, Diageo, Unilever & Vodafone (Check our the week in advance for a full list)
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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.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.
Prepared by Michael van Dulken, Head of Research