Sunday, 20th August 2017

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Morning traders' note

Comedown for Hikma as pharma lowers guidance

19 May 2017, by Henry Croft.

The morning note is a daily global markets overview for Friday 19th May 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 +30pts at 7465



FRES +2.0%
AHT +1.8%
RR. +1.7%
WOS +1.7%


HIK -4.3%
JMAT -2.0%
EXPN -1.7%
RMG -1.7%



·         UK Gold Miners (Centamin, Fresnillo, Randgold Resources) – Gold prices recover from Thursday’s sell-off as US dollar remains weak (Dow Jones Newswires)

·         Aviva – Announces insolvency capital position of 172% (Reuters)

·         Close Brothers – Announces strong Q3 performance (Reuters)

·         Entertainment One – Announces new Peppa Pig episodes and global partners (Reuters)

·         Grainger – Sees H1 profit rise (Reuters)

·         Hikma Pharmaceuticals – Lowers revenue guidance as a result of expectations for generics business (Reuters)

·         Legal & General – Announces Solvency II coverage ratio of 171% (Bloomberg)

·         Moss Bros – Announces audit committee head retiring (Reuters)

·         Johnston Press – Sees Q1 trend continuing with UK regional newspaper market challenging (Reuters)

·         Revolution Bars – Reports positive H2 underlying sales performance (Reuters)



·         Crude oil prices rises as Rosneft, Russia’s largest oil producer, becomes latest name to support OPEC-led output cut extension (Reuters)

·         Copper price rallies, continuing sharp recovery from Thursday’s lows to maintain rally from 2017 lows on 8 May (Reuters)

·         Gold recovers following a bout of profit taking on Thursday as political tensions come off highs, with today’s move spurred by US dollar weakness (Reuters)


Macro outlook:

·         In focus today with data light on the ground will be any further political developments from the UK, Brazil and, of course, the US, while we also eye the numerous speakers scheduled over the course of the day. This morning we have the EU’s Dombrovskis, German Chancellor Merkel and ECB Chief Economist Praet, while this afternoon the ECB’s Coeure and Constancio and the Fed’s Bullard and Williams all take to the stand.

·         Data-wise, UK CBI trends (11am; forecast unchanged), Eurozone Consumer Confidence (3pm; small improvement forecast) and the weekly Baker Hughes US Rig Count (6pm) for the latest update on rising US production versus OPEC-led cuts.

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