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Morning Report - 26 February 2020

Yesterday’s UK 100 Leaders Price (p) % Chg
NMC HEALTH PLC 880.2 3.8%
BUNZL PLC 2,050.0 2.5%
PEARSON PLC 582.0 0.4%
PRUDENTIAL PLC 1,421.0 0.0%
OCADO GROUP PLC 1,095.0 -0.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
CARNIVAL PLC 2639.0 -5.9%
MEGGITT PLC 563.8 -5.2%
TUI AG-DI 730.2 -4.9%
LEGAL & GENERAL GROUP PLC 287.0 -4.6%
ASSOCIATED BRITISH FOODS PLC 2430.0 -4.4%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 7,018 -1.9% -1.9%
DOW JONES INDUS. AVG 27,081 -3.2% 3.9%
DAX INDEX 12,790 -1.9% 11.2%
NIKKEI 225 22,426 -0.8% 4.6%
S&P/ASX 200 INDEX 6,708 -2.3% 9.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 49.69 -0.42%
Brent Crude (ICE) USD/bbl. 54.58 -0.67%
Gold Spot USD/t oz. 1,647 0.7%
Copper (Comex) USd/lb. 257 -0.6%
UK 100 called to open -50 points 6967

UK 100 : 1 day, 5 months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open -50 points 6967; Stocks in Asia fell on heavy volumes Wednesday after another epic rout on Wall Street, while U.S. equity futures rose and the yen dipped, taking back some of their strong recent moves. The won fell toward its weakest since 2016 after South Korea reported a further escalation in coronavirus cases.  The Nikkei closed 179 points down at 22,426, however did bounce 300 points from the days lows during trading.  The Hang Seng gave up 217 points, however also bounced around 200 points from session lows to close at 26,674.  In China the CSI 300 Index closed 1.23% lower at 4,073.  It was a similar story in the US, the Dow Jones fell a further 880 points during trading to close at 27,081, the S&P followed suit and gave up 97 points to close at 3,128 and the Nasdaq completed an all red trading session in the US, closing 255 points lower at 8,965.  Crude oil continued to give up ground overnight, now trading as low as $54.6 per barrel.  Gold was the big winner once more, trading at $1646.

 

In corporate news this morning:

 

Rio Tinto posted its best underlying earnings since 2011 on higher iron ore prices, but warned that the coronavirus outbreak could hurt business in the short term. FY earnings +17% to $10.37bn, slightly under consensus estimate of $10.4bn. Final dividend of $2.31 per share.

 

Taylor Wimpey reported 2019 results are line with market expectations. Revenue +6.4%, house completions +5% and profit for the year of £673.9m. The new year has started well with a good level of customer demand and a clearer political outlook.

 

Weir Group announce that their 2019 operating profit +1% and have taken a £546m oil and gas impairment reflecting ongoing market dynamics.

 

William Hill profit sinks 37% but was near the top end of forecasts. Adjusting operating profit of £147m (estimates of £143-148m) following the implementation of the £2 stake limit on slot machines.

 

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

 

 

Reporting Today:

 

Taylor Wimpey, Rio Tinto, Weir Group, Restaurant Group, William Hill

 

Reporting Tomorrow:

 

Standard Chartered
Reckitt Benckiser
Flutter Entertainment
Hunting
Rentokil
British American Tobacco
Mondi
Persimmon
St James Place
RSA Insurance
Aston Martin
Provident Financial
WPP
Evraz
Hikma
Drax
Staffline

 

 

In Focus Today:

 

US - EIA Crude Oil Stocks Change

 

 

US  - New Home Sales

Tomorrow's Ex Dividends:

 

UK 100 :

 

Easyjet

 

Diageo

 

Barclays

 

Astrazeneca

 

HSBC Holdings

 

:

 

Beazley

 

Witan Investment Trust

 

Plus 500

 

 

Upgrades/Downgrades

 

Bunzl Upgraded to Neutral by Credit Suisse (Bloomberg: 7 Buys / 4 Holds / 5 Sells)

 

BHP Group Upgraded to Buy by Renaissance Capital (Bloomberg: 5 Buys / 19 Holds / 4 Sells)

 

Meggit Upgraded to Buy by Morningstar (Bloomberg: 9 Buys / 5 Holds / 4 Sells)

 

Prudential Upgraded to Buy by Deutsche Bank (Bloomberg: 16 Buys / 5 Holds /2 Sells)

 

Sainsbury Upgraded to Buy by Berenberg (Bloomberg: 8 Buys / 7 Holds / 3 Sells)

 

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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