Hints and tips:
...The following decade saw very sharp increases, with total real estate debt peaking at 54.5% of GDP at the end of 2020, of which mortgage debt/GDP reached 34.0% and developer borrowing rose to 20.5% of GDP...
...Adjustments to our forecasts post the interims see FY20E EPS increased 15% to 34.6cps, albeit with the 3-year average EPS (FY20E-23E) reduced by 2%. Our TP rises 2% to 1118p. Good price momentum....
...For 2020, we expect CPR to deliver -5%/-16.4% organic sales/EBIT decline (H2: 0%/-5%), well ahead of the wider spirits sector on -13%/-28% organic sales/EBIT....
...For H1 2020 results (to be reported on 8 September), we expect a 24% organic sales decline to £90m (UK -35%, US +10%, Continental Europe -30%, RoW 0%), EBITDA down -34% to £24.2m and adj EPS -36% to 16p....
...For P4, this implies between +21-34% growth - this looks conservative to us....
...More than half of patients in both treatment groups were discharged from the hospital by Day 14 (5-day: 60.0% vs. 10-day: 52.3%; p=0.14)....
...The greenback slipped 0.2 per cent against the yen to ¥109.34, and was 0.1 per cent lower versus the Swiss franc at SFr0.9917....
...Wednesday 21.00 GMT What you need to know S&P 500 ends 0.2% higher; Stoxx Europe 600 gains 0.5% BofA and Goldman Sachs earnings received well PBoC injects record $84bn into Chinese banking system UK prime...
...Commodities Oil prices swung from losses to gains and back, with Brent finally settling 0.2 per cent lower at $61.18 — well off the day’s trough of $60.04....
...Sterling was 0.2 per cent lower at $1.2804, while the greenback was up 0.3 per cent versus the yen at ¥112.21....
...E-commerce sales did particularly well – and now account for more than 46 per cent of all retail sales – which helps explain the squeeze in retail gross margins....
...Forex and fixed income The dollar index was up less than 0.1 per cent at 95.34 having earlier hit 95.53, the highest for 11 months....
...The global benchmark is falling 0.4 per cent to $75.00 a barrel while US marker WTI is climbing 0.9 per cent to $65.34 a barrel. Gold prices are up 0.4 per cent to $1,296.69 an ounce....
...Dick’s shares jumped nearly 25 per cent to $37.99 after the retailer boosted its full-year earnings outlook to between $2.92 and $3.12 a share, up from $2.80 to $3.00 a share previously....
...Markets at 0805 GMT Asian markets Nikkei 225 down -337.37 (-1.43%) at 23,292 Topix down -22.32 (-1.19%) at 1,858 Hang Seng down -361.68 (-1.10%) at 32,605 US markets S&P 500 down -19.34 (-0.67%) at 2,854...
...Brent, the international crude benchmark, settled at $64.34 a barrel, down 2.2 per cent, while US West Texas Intermediate was 2.7 per cent lower in late trade at $61.38....
...up +142.88 (+0.55%) at 26,215 Nasdaq up +71.65 (+0.98%) at 7,408 European markets Eurofirst 300 up +5.36 (+0.34%) at 1,581 FTSE100 down -15.35 (-0.20%) at 7,715 CAC 40 unchanged 0.00 (0.00%) at 5,542 Dax...
...+102.80 (+0.41%) at 25,386 Nasdaq up +6.19 (+0.09%) at 7,164 European markets Eurofirst 300 up +7.44 (+0.48%) at 1,573 FTSE100 up +34.51 (+0.45%) at 7,731 CAC 40 unchanged 0.00 (0.00%) at 5,524 Dax unchanged...
...2,743 DJIA up +220.74 (+0.88%) at 25,296 Nasdaq up +58.64 (+0.83%) at 7,137 European markets Eurofirst 300 up +14.27 (+0.92%) at 1,562 FTSE100 up +28.34 (+0.37%) at 7,724 CAC 40 unchanged 0.00 (0.00%)...
...up +0.04 at 63.77 100 Oz Gold (Comex) unchanged 0.00 at 1,335 Copper (Comex) unchanged 0.00 at 3.20 10-year government bond yields (%) US 2.56% Germany 0.56% CDS (closing levels) Markit iTraxx Europe -...
...0.00 (0.00%) at 13,154 Currencies €/$ 1.18 (1.18) $/¥ 113.41 (113.47) £/$ 1.34 (1.34) €/£ 0.8785 (0.8785) Commodities ($) Brent Crude (ICE) down -0.01 at 63.39 Light Crude (Nymex) down -0.05 at 57.31...
...unchanged 0.00 (0.00%) at 13,126 Currencies €/$ 1.18 (1.18) $/¥ 112.75 (112.53) £/$ 1.34 (1.34) €/£ 0.8804 (0.881) Commodities ($) Brent Crude (ICE) up +0.44 at 62.88 Light Crude (Nymex) up +0.22 at 56.82...
...unchanged 0.00 (0.00%) at 13,059 Currencies €/$ 1.19 (1.19) $/¥ 112.69 (112.40) £/$ 1.34 (1.35) €/£ 0.8831 (0.8801) Commodities ($) Brent Crude (ICE) down -0.25 at 62.20 Light Crude (Nymex) down -0.19...
...“On 26 July 2017, Metro Bank positively surprised the market by announcing a £0.3bn capital raise [with both new and existing shareholders] at £34.65, a zero discount to the previous night’s close....
...) at 1,675 Hang Seng up +93.65 (+0.34%) at 27,515 US markets S&P 500 up +3.02 (+0.12%) at 2,510 DJIA up +40.49 (+0.18%) at 22,381 Nasdaq up +0.19 (0.00%) at 6,453 European markets Eurofirst 300 up +2.43...
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