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| Yesterday’s UK 100 Leaders | Close (p) | Chg (p) | % Chg | % YTD |
| ITV PLC | 136.5 | 3 | 2.25 | 9.33 |
| NMC Health PLC | 2471 | 54 | 2.23 | -9.69 |
| WPP Group PLC | 870.8 | 17.8 | 2.09 | 2.86 |
| Hiscox Ltd | 1565 | 19 | 1.23 | -3.45 |
| Experian PLC | 2115 | 19 | 0.91 | 11.02 |
| Yesterday’s UK 100 Laggards | Close (p) | Chg (p) | % Chg | % YTD |
| Smurfit Kappa Group PLC | 2275 | -91 | -3.85 | 9.27 |
| TUI AG | 715.8 | -23 | -3.11 | -36.4 |
| Just Eat PLC | 720 | -18.4 | -2.49 | 22.7 |
| Barratt Developments PLC | 605.2 | -14.6 | -2.36 | 30.77 |
| Melrose Industries PLC | 184.7 | -4.3 | -2.28 | 12.73 |
| Major World Indices | Mid/Close | Chg | % Chg | % YTD |
| UK UK 100 | 7,451.9 | 5.0 | 0.1 | 10.8 |
| UK | 19,517.2 | -21.1 | -0.1 | 11.5 |
| FR CAC 40 | 5,471.8 | -4.4 | -0.1 | 15.7 |
| DE DAX 30 | 11,963.4 | -46.4 | -0.4 | 13.3 |
| US DJ Industrial Average 30 | 26,341.0 | -84.0 | -0.3 | 12.9 |
| US Nasdaq Composite | 7,953.9 | 15.2 | 0.2 | 19.9 |
| US S&P 500 | 2,895.8 | 3.0 | 0.1 | 15.5 |
| JP Nikkei 225 | 21,668.0 | -130.4 | -0.60 | 8.3 |
| HK Hang Seng Index 50 | 30,060.2 | -97.3 | -0.32 | 16.3 |
| AU S&P/ASX 200 | 6,221.1 | -0.7 | -0.01 | 10.2 |
| Commodities & FX | Mid/Close | Chg | % Chg | % YTD |
| Crude Oil, West Texas Int. ($/barrel) | 64.15 | 0.00 | 0.00 | 41.21 |
| Crude Oil, Brent ($/barrel) | 70.70 | 0.00 | 0.00 | 30.53 |
| Gold ($/oz) | 1302.98 | 0.00 | 0.00 | 1.59 |
| Silver ($/oz) | 15.20 | 0.12 | 0.76 | -1.71 |
| GBP/USD – US$ per £ | 1.3072 | – | 0.00 | 2.51 |
| EUR/USD – US$ per € | 1.1263 | – | 0.00 | -1.8 |
| GBP/EUR – € per £ | 1.1608 | – | 0.00 | 4.4 |
Click graph to enlarge
UK 100 called to open higher by 15 points at 7425, continuing in the tight 4-day range of 7410 to 7465. Traders may consider whether they can capitalise on this range, if they expect it to continue. Bulls need a clear break above yesterday’s 7460 region to extend the 3-month rising channel towards 7560. Bears require a breach of 7370 for a fall back towards the channel floor at 7240 Watch levels: Bullish 7460, Bearish 7365
The UK market appears likely to face another cautious start, as a potential trade dispute between the U.S. and EU remains a concern for investors.
Tuesday saw a decline in U.S. equity markets, weighed down by growth and trade concerns. Industrial constituents, such as 3M and Caterpillar, were amongst the hardest hit.
Investors in the U.S. are worried that new tariffs on EU goods were indicative of a mindset that could prevent a trade agreement with China for the immediate future. This could prove a drag on a stock market that had been pricing in the probability of a new resolution.
In Asia, equity markets were generally lower due to profit taking ahead of anticipated updates on U.S.-China trade negotiations.
Gold prices inched down on Wednesday as the dollar firmed, but the metal remained near a two-week peak hit in the previous session as equities slipped on concerns over global growth and trade tensions between the United States and Europe.
Central banks are in focus today, with traders monitoring the ECB’s interest rate decision. The FOMC meeting minutes and economic forecasts are also scheduled, to be released after the European close
Tesco this morning announced UK and ROI like for like sales up 2.9%, with a pre-tax profit of £1.67bn on revenue of £63.91bn. Analysts were expecting a pre-tax profit of £1.57bn. (RNS)
Rolls Royce has announced that guidance costs on Trent 1000 in 2019 and 2020 remains unchanged. (DJ)
Indivior – US Justice Department indicts company on charges of illegal marketing
ASOS H1 pretax profit misses expectations coming in at £4m, expected £5.4m; HY retail sales beat YoY (£1.281bn v £1.131bn). Hurt by poor trade in crucial run-up to Christmas and logistical hiccups. Confident of an improved performance in 2H.
Astrazeneca’s new drug, Lynparza, has been approved in the EU to treat breast cancer. (DJ)
Rio Tinto the recent fire at the company’s Dampier iron-ore export facility is unlikely to be affect profits. The miner is yet to release a regulatory statement on the matter, but it could add fuel to concerns over a market shortfall and contribute to upward pressure on iron-ore prices. (DJ)
Glencore's Zambian Unit says underground mining resumes after production suspended following fatal accident on Mar 19th
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Prepared by Michael van Dulken, Head of Research