Sunday, 23rd July 2017

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Morning traders' note

DUP-Conservative talks stepped up ahead of important deadline

26 Jun 2017, by Henry Croft.

The morning note is a daily global markets overview for Friday 23rd June 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 +35pts at 7460



ITV +1.3%
RB. +1.3%
HMSO +1.2%
GLEN +1.1%


PFG -2.9%
BA. -1.1%
AHT -0.8%
RR. -0.6%



  • UK Oilers (BP, Shell, Cairn Energy, Premier Oil Tullow Oil) –  (Wall Street Journal)
  • Alfa Financial – Announces it has won a contract with a large US car financing company (Reuters)
  • Amec Foster Wheeler – Completes the sale of its CFB boiler business (Reuters)
  • Deutsche Asset Management – Makes £310m purchase of London buildings (Reuters)
  • Hammerson – Search for news about the company was unusually high based on Bloomberg’s 30-day news interest average (Bloomberg)
  • Hikma Pharmaceutical – US CEO is retiring as company announces organisational changes (Bloomberg)
  • Holland & Barratt – Is to be purchased for £1.77bn by L1 retail (Reuters)
  • Intesa Sanpaolo – Agrees to take on assets of two struggling Venetian lenders in a deal with the Italian government (Reuters)
  • Ultra Electronics – Confirms it is in discussions to purchase Sparton Corp (Reuters)



  • Crude oil testing rising channel ceilings as both Brent and US benchmarks extend their rally from Wednesday’s fresh 10-month lows(Reuters)

·         Copper back testing resistance just shy of last week’s 2-month highs as investors continue to see a reduced pace of US interest rate hikes (Reuters)

·         Gold testing support at $1254 as US dollar rallies from lows while investors also engage in profit taking following 2-week highs (Reuters)


Macro outlook:

  • In focus today will be any news on conclusion of UK PM May’s negotiations with Northern Ireland’s DUP on a ‘confidence and supply agreement’ that provides the Conservatives with a commons working majority or leave it with an inferior minority government that risks another general election. DUP leader Arlene Foster goes to Downing St again today as talks enter a third week. Time is of the essence as we edge towards a June 29 deadline for resolution of Northern Ireland’s political stalemate to reach a power-sharing agreement to restore the devolved Northern Irish assembly. Today also sees the publishing 15 pages of the Government’s proposed plan to protect the rights of the 3.2m EU workers living in the UK before Brexit.
  • Datawise, German IFO Surveys (9am), expected unchanged in June, as well as UK BBA Home Loans (9.30am), forecast lower in May. This afternoon, US Durable Goods Orders (1.30pm) are seen weak in May at the headline, but likely improved when big-ticket Transport and Defence are excluded. Chicago Fed Nat Activity Index (also 1.30pm) may have pulled back towards the mean in May after a strong April while the Dallas Fed Manufacturing Activity (3.30pm) may edge back a touch, but hold close to the level of the last three months.


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

Commodities: Increasing supply of oil weighs heavy on the market

Sun, 23rd Jul - * (ShareCast News) - An over supply of crude from Nigeria and Libya of approximately 1m barrels per day weighed heavily on the oil market on Friday with September contracts for both WTI crude and Brent crude down 2.28% and 2.29% respectively.

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