The FTSE 100 is called to open 34 points lower at 5863. U.S. equity-index futures fell along with European contracts and most Asian stock markets after an acrimonious American presidential debate that highlighted the risk of a contested vote. The dollar ticked higher and Treasuries were steady. S&P 500 futures were about 1% lower after the sparring between President Donald Trump and Democratic hopeful Joe Biden ended. Futures earlier rose as much as 0.7% during the debate, well within the range of swings that have prevailed recently during one of the U.S. stock market’s more volatile stretches.


  • Goldman raises B&M PT TO 590 (500) PENCE – ‘BUY’
  • Ferguson upgraded to sector perform from underperform
  • Polymetal cut to EW at Alfa-Bank
  • Ag BARR raised to EW Barclays
  • Givaudan Raised to Buy at Berenberg; PT 4,500 Swiss francs
  • Gestamp Raised to Overweight at Morgan Stanley; PT 3 euros
  • Siemens Energy Rated New Buy at Berenberg; PT 28 euros
  • Salmar Raised to Buy at SEB Equities; PT 595 kroner
  • LISI Rated New Hold at MainFirst; PT 18 euros


  • European semiconductors to be in focus today after Micron’s outlook missed expectations in the States. Micron shares fell after it warned about weaker demand from some corporate customers & forecasts a oversupply in flash memory chips in 2021.
  • TP ICAP confirmed plans to acquire private trading operator Liquidnet as the world’s largest interdealer broker continues with the ambitious growth plans outlined by its new management earlier this year.
  • Compass Group reported that organic revenue fell around 36% for the fourth quarter of fiscal 2020, and that it expects to take a 100 million-pound ($128.6 million) hit from contract assets due to the coronavirus pandemic. FY op profit margin expected around 3%.
  • SSE reported that it expects a 120 million pounds to 130 million pounds ($154.3 million-$167.2 million) hit to operating profit during the first half of fiscal 2021 due to the coronavirus.
  • Royal Dutch Shell said that it expects to cut between 7,000 and 9,000 jobs by the end of 2022, as the company said it expects to book charges of between $1.0 billion and $1.5 billion in the third quarter.
  • Novartis CEO say vaccines alone not enough. Full supply not until end ‘21.
  • Boohoo Rev beats £816.5m v ests of £755m & rev growth now seen at 28%-32% from 25% EBITDA beats 89.8 vests of 76.6. Capex guidance risen to £100m (60m-80m) Strong cash position after placing. (up 8% premarket).
  • U.K. homebuilders could be active on Wednesday after a report showed house prices posted the biggest annual increase since 2016.
  • Topps Tiles Q4 trading strong,LfL+16.5%, sees modest level for FY PBT.
  • CRH Group FD Senan Murphy retiring in 2021, will continue in the role until a successor is appointed.
  • Land Secs CFO Martin Greenslade stepping down, will continue in the role until a successor is appointed in 2021.
  • Hammerson Rita-Rose Gagne appointed CEO, exPresident of growth markets at Ivanhoe Cambridge where she was responsible for $7.6bn of Real Estate Assets.
  • Qinetiq H1 order intake continued to be strong, pays deffered final divi.
  • S&U H1 grp -3%,covid loss provision charge of £14m,sees PBT of £6.3m.
  • 888 – Adj ebitda outcome for 2020 significantly ahead of prior views.
  • N Brown says performance in line with expectations. Cost reductions.
  • The boards of William Hill, Caesars and Caesars UK Bidco are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition 272.
  • Utilities – Times article – ‘Watchdogs at war’.
  • Standard Life Private Equity Trust (SLPE LN) estimated NAV as at 31 August 2020: -3% since end-June to 459.9pps, driven by FX (-1.8%) and the dividend.
  • 3i Infrastructure (3IN LN) pre-close update: “the portfolio continues to demonstrate its resilience to the effects of Covid-19. Most portfolio companies have met or exceeded the expectations we set at the start of the period, although lower power price forecasts, ongoing effects of the pandemic and the slow recovery in air travel will affect some portfolio company valuations at the half year end.”
  • M&C Saatchi (SAA) -5%; Audit not be finished before deadline, so temporary suspension of shares on Oct 1st. Publishing preliminary’s today as confident in headline figures before completion. Continues to trade well and stronger than anticipated at start of pandemic.
  • City Pub (CPC) +5%; 37 of 48 pubs reopened. Since lockdown achieving sales of around 80% of last year.
  • Genedrive PLC (GDR) +10%; The co’s 96 SARS-CoV Kit has received approval from the south African health products regulatory authority.

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