The morning note is a daily global markets overview for Monday 20th 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 -15pts at 7410
· UK Oilers (BP, Shell, Tullow Oil, Premier Oil) – Oil prices remain under pressure after Baker Hughes Rig Count shows 9th consecutive increase (Reuters)
· AstraZeneca – Study data shows new drug significantly cuts the chance of death from heart failure derived from type two diabetes (Reuters)
· Carillion – Awarded Cyprus DIO contact worth £90m (Reuters)
· Finsbury Food – H1 revenue reported at £156.6m (Reuters)
· JKX Oil And Gas – FY operating loss narrows to £3.9m (Reuters)
· John Laing – Proposes issue of up to 89.8m shares (Reuters)
· Kaz Minerals – Provides update on HK shares trading halt (Reuters)
· Marston’s – Announces replacement to existing £257.5m banking facility (Reuters)
· Phoenix Group – Increases its target for cash generation (Reuters)
· Rio Tinto – Has pledged to cut steel production in order to reduce greenhouse emissions (Bloomberg)
· Vodafone – Announces merger with India’s Idea Cellular, creating the country’s largest wireless company (Bloomberg)
· Crude oil fails to capitalise on USD at 5-week lows as Baker Hughes Rig Count increase sees US production concerns continue. (Reuters)
· Copper price flat as weak US dollar contends with thin trading volumes in Asia overnight. (Reuters)
· Gold price improves to a 3-week high as the US dollar reaches a 5-week low and European political uncertainties remain a driver. (Reuters)
· A quiet day today for macro data sees the Chicago Fed Activity Index at 12:30pm headlining all releases, with the US economic metric hoping for a return to December’s highest reading since 2015.
· Speaker-wise, expect soundbites to be released from the Eurogroup meeting on Greece at 3pm, before noted ECB hawk Wiedmann speaks at 4:45pm while the US Federal Reserve’s Evans at 5:10pm kicks off a week in which nine members of the central bank are scheduled to speak following last week’s monetary policy update.
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.
They say “breaking up is hard to do” but in financial market break-ups spinoffs can be very profitable and give companies a new lease of life.
A spinoff is the creation of an independent company or in some cases more than one company through the sale or distribution of new shares of an existing listed company to shareholders holding the parent company at a certain date.
Three years ago I came up with the concept for a investment-focused podcast for the ShareTalk website I work on, called Conkers' Corner after my Twitter handle of @conkers3, and five months ago the first recording was made. Below are some of the lessons I have learned or have been reinforced during these years.
The concept of Conkers' Corner is very simple yet extremely educational and beneficial for all: the participants in the podcasts and interviews since I started in May 2016 have included shrewd investors/traders, ISA millionaires, high net worth individuals, business leaders, CEOs, highly respected fund managers and investment writers.
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