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Dealers' early call: 20.09.19

The FTSE 100 is called to open 41 points lower at 7315. Major U.S. stock indexes ended mixed Thursday after an early rally lost its strength toward the end of the day. The S&P 500 managed to hold on to a tiny gain that extended its winning streak to a third day. The benchmark index, which is within 0.7% of its all-time high set July 26, ended the day slightly down for the week. Gains in health care, technology, utilities and othersectors outweighed losses elsewhere in the market Thursday. Advancers outnumbered decliners on the New York Stock Exchange. Bond yields were little changed. In Asia, stocks edged up on Friday in morning trade as a series of developments overnight on the US-China trade front dampened hopes.

UPGRADES AND DOWNGRADES

  • Learning Tech Downgraded to Hold at Canaccord

  • Great Portland Downgraded to Reduce at HSBC

  • Derwent Downgraded to Reduce at HSBC

COMPANY NEWS

  • Smiths Group Plc is on track to separate the U.K. industrial company’s medical-equipment business
  • during the first half of 2020 after reporting revenue that missed analysts’ estimates.
  • Trainline Offering by Holder Prices 65.5m Shrs at GBP4.35/Shr.
  • Keller says trading momentum in North America in 2H has started more slowly than previously expected, and while it is now building, there is an increased weighting toward 4Q.
  • Thomas Cook Recapitalization Talks Include New GBP200m Facility.
  • Investec says 1H 2020 adj. operating profit is expected to be slightly behind prior period (in line on neutral currency basis) given “challenging market conditions”.
  • Phillips sold Remaining Signify Stake EU29.50/Share, realising about EU357 million in proceeds.
  • Roche FDA approved test for use on the cobas 6800/8800 Systems for individual blood donation testing.
  • Hurricane recognized revenue for the first time, reporting sales of $22.5m in 1H. 1H operating profit $1.2m vs year-earlier loss of $4.7m.
  • Vestas Wind & Orsted Germany is looking to spend at least 100bn euros on climate action by 2030.
  • Rolls-Royce says it now expects the return to singledigit level of Aircraft On Ground on the Trent 1000 to
  • be delayed until 2Q 2020.
  • RBS Group appoints Alison Rose as Executive Director and Chief Executive Officer.
  • Sports Direct – Co. Has taken legal advice on CMA’s decision regarding acquisition of FOOTASYLUM.

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