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Morning Report - 28 April 2020

Yesterday’s UK 100 Leaders Price (p) % Chg
CARNIVAL PLC 922.4 8.6%
ASHTEAD GROUP PLC 1,985.0 8.5%
INTERCONTINENTAL HOTELS GROU 3,601.0 7.1%
COMPASS GROUP PLC 1,339.0 5.7%
ITV PLC 72.2 5.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
BERKELEY GROUP HOLDINGS/THE 4159.0 -4.0%
PERSIMMON PLC 2130.0 -2.9%
PENNON GROUP PLC 1093.0 -2.5%
JD SPORTS FASHION PLC 481.5 -2.4%
TAYLOR WIMPEY PLC 148.7 -1.9%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 5,847 1.6% -21.3%
DOW JONES INDUS. AVG 24,134 1.5% -9.1%
DAX INDEX 10,660 3.1% -13.4%
NIKKEI 225 19,771 -0.1% -11.2%
S&P/ASX 200 INDEX 5,313 -0.2% -16.8%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 12.88 -23.97%
Brent Crude (ICE) USD/bbl. 19.91 -7.14%
Gold Spot USD/t oz. 1,714 0.0%
Copper (Comex) USd/lb. 235 0.5%
UK 100 called to open +10 points points at 5855

1 hour; 2 Months

Click graph to enlarge

Markets Overview:

 

UK 100 called to open +10 points points at 5855.  Stocks were mixed in Asia on Tuesday and U.S. futures dipped after a modest rally on Wall Street overnight. Crude oil extended sharp losses from Monday. Shares slipped in Japan and South Korea. Australia turned lower and Hong Kong climbed. Chinese stocks fluctuated after a report the country would ease some initial public offering rules. The White House issued a strategy to expand U.S. testing for the coronavirus on Monday, accelerating President Donald Trump’s push to reopen the economy even as the nation’s outbreak approaches 1 million infections. The new guidance to states to help them build testing capacity.  Gold fell for a third day as a drumbeat of moves toward reopening economies plus gains in stocks eroded appetite for havens, with prices sinking below $1,700 an ounce ahead of policy announcements from two of the world’s leading central banks.

 

Company News:

 

BP reports its profit fell by two-thirds in Q1 2020 as coronavirus hit oil demand and its debt rose. They reported a net income of $800m, beating the $710m forecast by analysts, but was down from $2.4bn posted in the same quarter last year. The company states there remains an 'exceptional level of uncertainty' after oil prices dropped below $20 a barrel.

 

Greggs plans to re-open 20 shops from next Monday in a trial to see if it can operate effectively with social distancing measures as the coronavirus lockdown is eased.

 

HSBC Q1 2020 profit fell worse-than-expected by 48% (v Q1 2019) to $3.2bn after boosting provisions (five-fold to $3bn) against bad loans as the coronavirus pandemic hits borrowers worldwide. They warned that the pandemic could cause further damage to come and they will review their dividend policy at or before their end of year 2020 results.

 

Plus 500 state that revenue and profitability for their FY 2020 is expected to be substantially ahead of current consensus expectations due to continued levels of market volatility has seen significantly increased levels of customer trading activity.

 

Travis Perkins have announced its total revenue in the first three weeks of April 2020 is down two thirds on the same period in 2019 due to the coronavirus crisis.

 

Weir Group says Q1 2020 orders are down 13% (v Q1 2019) due to significantly weaker oil and gas market conditions. They expect COVID-19 will have a greater impact on trading in Q2.

 

Reporting Today:

 

BP

HSBC

 

Reporting Tomorrow:

 

Barclays

GlaxoSmithKline

Astrazeneca

N Brown Group

Next

Persimmon

WPP

 

In Focus Today:

 

JP - Bank Of Japan Interest Rate Decision

EU - ECB Bank Lending Survey

US - API Weekly Crude Oil Stock

 

This Week's Ex Dividends:

 

UK 100 :

 

London Stock Exchange Group

 

:

 

Ferrexpo

Centemin

Derwent London

 

 

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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