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| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| RECKITT BENCKISER GROUP PLC | 6,024.0 | 3.2% |
| ASTRAZENECA PLC | 7,580.0 | 2.6% |
| STANDARD CHARTERED PLC | 712.8 | 2.6% |
| INTERTEK GROUP PLC | 5,328.0 | 2.5% |
| GLAXOSMITHKLINE PLC | 1,782.0 | 2.4% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| NMC HEALTH PLC | 2183.0 | -7.9% |
| WHITBREAD PLC | 4011.0 | -4.8% |
| ANTOFAGASTA PLC | 881.8 | -3.5% |
| KINGFISHER PLC | 205.4 | -3.3% |
| NEXT PLC | 6654.0 | -2.9% |
| Major World Indices | Price | % Chg | 1 Year |
| UK 100 INDEX | 7,331 | 0.3% | 2.8% |
| DOW JONES INDUS. AVG | 27,187 | 0.4% | 8.3% |
| DAX INDEX | 12,910 | -0.2% | 12.8% |
| NIKKEI 225 | 22,927 | 0.4% | 4.6% |
| S&P/ASX 200 INDEX | 6,663 | -0.4% | 14.3% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 55.24 | 0.33% |
| Brent Crude (ICE) | USD/bbl. | 60.87 | 0.43% |
| Gold Spot | USD/t oz. | 1,498 | 0.2% |
| Copper (Comex) | USd/lb. | 268 | -0.1% |
Click graph to enlarge
UK 100 called to open flat at 7330 this morning; this comes after the Fed cut interest rates in the US for a third consecutive quarter. Also significant was the more dovish tones for the rest of 2019. Reporting season continued with big name tech stocks Facebook, Apple and Samsung amongst those surpassing expectations. Overnight trading in Asia showed signs of further positive sentiment, the Nikkei closing +94 points and the Hang Seng +231 points. However Chinese factory activity shrunk at a sharper pace than expectation. As to be expected the Dow Jones closed +115 points, leading both the S&P and the Nasdaq higher. Oil slipped below $61 a barrel once more overnight to settle at $60.5. Whilst gold once more tested the $1500 handle, sitting just $2 shy.
In corporate news this morning:
BT H1 2019 results met earnings expectations underpinning its target to roll out gold standard fibre to 4 million premises by March 2021. Revenue -1% to £11.47bn reflecting the impact of regulation and declines in legacy products, core earnings -3% to £3.92bn.
IAG reported a Q3 profit of €1425 before exceptional items, results heavily impacted by industrial action by BALPA pilots. Passenger revenue down 0.5%, non fuel unit costs up 1.1%, whilst fuel costs up 6.1% for the quarter. Statutory profit down 27.8%; EPS down 1.4%. Interim dividend announced €0.145 per share.
Lloyds post weaker than expected Q3 2019 pre-tax profits after making a further provision of £1.8bn for PPI mis-selling. They made a pre-tax profit of £50m which came in below average analyst forecasts of £163m. Juan Colombas Lloyds COO will retire in July 2020.
Royal Dutch Shell said they had delivered strong cash flow and earnings, despite lower oil and gas prices. Also announced share buy back of $25 billion in shares and reduce net debt. Also announced a Q3 dividend of $0.47.
Smith & Nephew lifts full year revenue growth forecast for the third time this year. Underlying growth has been increased to a range of 3.5%-4.5% up from 3%-4%. Q3 revenue up 4%.
Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Standard Chartered Downgraded to hold by Morningstar (Bloomberg: 9 Buys/ 7 Holds/ 9 Sells)
Original Brexit Deadline
Bank of Japan Interest Rate Decision
Chinese Non Manufacturing PMI
Eurozone GDP
Acacia, BT Group, IAG, Indivior,Royal Dutch Shell, Lloyds, Provident Financial Smith & Nephew.
ABF, Imperial Brands, Marks & Spencer, Intu Properties, Flutter, Hikma, Provident Financial, Persimmon, RSA Insurance, Sainsburys
(Full list available on Week in advance)
BP - 1.6%
Whitbread - 0.8%
Galliford Try - 4.7%
Card Factory - 4.6%
(Full list available on Week in advance)
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