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Dealers' early call: 20.09.2018

The FTSE 100 is called to open 2 points lower at 7329. Major U.S. stock indexes ended mixed as gains in banks were offset by losses elsewhere in the market. Bond yields climbed to the highest level in four months, sending bank shares higher and weighing on utilities and other highdividend payers. Energy stocks rose along with the price of crude oil. Homebuilders fell on mixed housing data. Euro Stoxx 50 futures are unchanged and Asian stocks turned mixed Thursday after the recent rally and Treasury yields approached the highest level this year, hitting 3.09%.

Press Commentary

Retail investors’ confidence in the value of the British stock market appears to have dropped to its lowest level in 23 years, according to an index of investors’ mood compiled by Hargreaves Lansdown, Times.

Aldi and Lidl won’t be scared by Tesco’s new discount Jack’s, Guardian.

Upgrades and downgrade

DIAGEO top spirits pick at Jefferies
AVEVA raised to overweight from equal weight at BarCap
WEIR raised to overweight from equal weight at MS

Company News

Aston Martin has priced its initial public offering on the London Stock Exchange, valuing the luxury-car maker at between 4.02 billion pounds and 5.07 billion pounds.

IG Grp Rev’s in Q1 lower 5% than last year (was a record quarter). Volatility seen in FY18 hasn’t continued into FY19.

Diageo Organic net sales growth inline, trading inline.

Inmarsat 10 year collaboration with Panasonic for in-flight connectivity.

Rio’s announced a new US$3.2bn share buy-back, split US$1.9bn in an off market ASX buy-back and a US$1.3bn increase to the current on market buyback.

Nestle opened a strategic review of its skin-health unit amid pressure from activist investor Dan Loeb to focus on its main food and beverage and nutrition businesses.

Kier Full Year Adjusted Pretax Profit 1.9% Below Estimates

Ahold Amazon is considering a plan to open as many as 3,000 AmazonGo stores in the US by 2021.

Moncler Q3 is “going well” and the company’s new monthly collection strategy dubbed “Genius” is performing above expectations, says CEO.

Ryanair AGM today- Swedish, German and UK pilot unions late yesterday urged Ryanair holders to replace management.

Hurricane Energy Posts 1H Loss After Tax of $75m.

BATS said Nicandro Durante, who has helped steer the company through an increasingly challenging landscape for the tobacco industry, is stepping down as chief executive officer next year.

Goldman Sachs regained its top spot in commodities in the first half of 2018, but had to share that position

with rivals Morgan Stanley and JPMorgan, according to research group Coalition Development.

Danske Bank May Face $630 Million Fine, Danish Government Says

 

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