Saturday, 25th March 2017

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Morning traders' note

Trump can't Afford not to Care about Health act

24 Mar 2017, by Henry Croft.

The morning note is a daily global markets overview for Friday 24th March 2017 from the analyst team at Accendo Markets, providing a bullet-point snapshot of what can be expected in financial markets today and overnight activity. The information is straight from the traders’ desks, with news and insights on equities markets, commodities, and forex.

FTSE100 currently flat at 7340



SMIN +4.7%
PFG +2.5%
RR. +1.3%
BARC +1.2%


HIK -1.4%
KGF -1.3%
AV. -1.0%
NXT -0.9%



·         UK Copper Miners (Anglo American, Antofagasta, BHP Billiton, Glenore, Rio Tinto, Vedanta) – 6-week strike at the world’s largest copper mine looks set to come to an end (Bloomberg)

·         Acacia Mining – Tanzanian iron ore export ban is currently inflicting a $1m daily revenue loss, with the company set to reassess how long production can last given the ban (Reuters)

·         BT Group – Is one of five companies accused of bid-rigging by authorities in Hong Kong (Bloomberg)

·         EasyHotel – Trading for the five months to end-February was slightly above expectations from the board (Reuters)

·         Fastjet – Names new non-executive chairman (Reuters)

·         Lamprell – Will cut 20% of its staff as it states 2017 will be its toughest year of trading (Reuters)

·         Smiths Group – Reports higher H1 profit, while reaffirming outlook for FY (Reuters)

·         Vodafone – Merger with India’s Idea Cellular may be worth 23% more than the price which was agreed (Economic Times)



·         Crude oil trades in tight range as (Reuters)

·         Copper price falls overnight as reports emerge that the labour strike at BHP Billiton’s Escondida mine may come to an end through legal loophole (Reuters)

·         Gold falls due to stronger US dollar as US President Trump delays a House vote on the repeal and replace of Obamacare. (Reuters)


Macro outlook:

·         In focus today will be Eurozone Manufacturing and Services PMI readings, seen retreating marginally, US Durable Goods Orders, with the headline figure slowing but ex-transport figure moving back into growth from flat, US Manufacturing and Service PMI, both seen accelerating and, as always, the Baker Hughes Rig Count, looking to notch its 10th consecutive weekly increase as US crude oil production remains a big bear for OPEC.

·         Speaker-wise, we have a quartet of Fed speakers lined up, as voters Evans and Dudley join non-voters Bullard and Williams, with the latter scheduled to speak a further two times following overnight comments that he expects 3 or 4 rate hikes in 2017.


CFDs, spreadbetting and FX can result in losses exceeding your initial deposit. They are not suitable for everyone, so please ensure you understand the risks. Seek independent financial advice if necessary. Nothing in this article should be considered a personal recommendation. It does not account for your personal circumstances or appetite for risk.

City News

Republicans pull healthcare bill before vote

Thu, 1st Jan - * (ShareCast News) - The White House pulled its proposed bill to reform the US healthcare system at the last moment despite what some had assumed to be widespread Republican support to revamp Obamacare.

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