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The below stocks have been identified as having potential to register bigger than normal share price moves (up or down) today based on the news cited
(BP.L), Royal Dutch Shell (RDSb.L), Tullow Oil (TLW.L), Cairn Energy (CNE.L), Weir Group (WEIR.L), Premier Oil (PMO.L) - Profit-taking from Traders following recent rallies was weighing on Oil prices, seen falling away from 5-week highs today. Analysts doubted possible producer talks to rein in oversupply would be successful, contradicting the ongoing rumors around producer cooperation to reduce supply which was supported by comments from the Saudi Arabia’s Oil minister which helped prices recently. Watch-out for Oil inventories today from the US. Closing prices 436.25p, 2015.50p, 234.20p, 204.00p, 1582.00p, 76.50p (Reuters / Accendo Markets)
Admiral (ADM.L) – Posted a 4% rise in H1 pre-tax profit, just shy of estimates. Said market volatility around Britain’s vote to leave the EU impacted the insurer’s solvency ratio. Closing price 2257.50p (Reuters)
WM Morrison (MRW.L) – Has completed the sale of its 10% stake in the US online food retailer Fresh Direct for £45m, more than two years after it announced the sale. Closing price 189.60p (Reuters)
Balfour Beatty Plc (BALF.L) – After announcements of a £524m US deal yesterday, the company posts H1 underlying pretax profit of £7.0m versus £130m loss y-o-y, and re-starts dividend payments to shareholders paying 0.9pp share. Company lacks clarity as to what, if any impact from Brexit currently. Closing price 244.40p (Reuters)
Anglo American (AAL.L), Antofagasta (ANTO.L), Glencore (GLEN.L), Kaz Minerals (KAZ.L) - Copper drifted lower on Wednesday as northern hemisphere summer holidays drained markets of liquidity and direction, with some weight coming from a dollar rebound ahead of a U.S. monetary policy meeting later in the session. Closing Prices 890.00p, 558.00p, 196.90p, 551.00p, 167.60p (Reuters)
Fresnillo (FRES.L), Randgold Resources (RRS.L) - Gold edged lower on Wednesday as hawkish comments from U.S. Federal Reserve officials raised bets on a rate hike this year, with traders waiting for minutes from the last Fed policy meeting for more clues. Closing price 1982.00p, 8585.00p (Reuters)
For more information on any of these individual news items, call into the trading floor
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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