This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
A possible buy-back should worry Lloyds investors
Proactive Investors – 31 Jul
http://www.proactiveinvestors.co.uk/companies/news/109557/a-possible-buy-back-should-worry-lloyds-investors-109557.html
LONDON MARKET MID-MORNING: Stocks Mixed; Liberty Global Ups ITV Stake
Alliance News – 31 Jul
http://www.lse.co.uk/AllNews.asp?code=r0i9mqwp&headline=LONDON_MARKET_MIDMORNING_Stocks_Mixed_Liberty_Global_Ups_ITV_Stake
Lloyds floats special dividends but PPI costs weigh
CityWire – 31 Jul
http://citywire.co.uk/money/lloyds-floats-special-dividends-but-ppi-costs-weigh/a830235
IMF playing good or bad cop?
Proactive Investors – 31 Jul
http://www.proactiveinvestors.co.uk/columns/morning-market-pulse/22684/imf-playing-good-or-bad-cop-22684.html
Lloyds Shares Drop; Another PPI Provision Weighs — Market Talk
Dow Jones – 31 Jul
Lloyds drops 0.7% to 85.45p despite reporting a rise in first-half profit. This 1H profit figure was hit by the bank taking another provision to compensate customers who were wrongfully sold insurance products, this time to the tune of GBP1.4 billion. This takes the grand total to a whopping GBP13.4 billion, notes Mike van Dulken, Head of Research at Accendo Markets, begging the question: “will we ever see the back of this mis-selling overhang?” Adds a 0.75p/share interim dividend will please the income seekers, but news that the bank might consider a share buyback instead of special dividends to return capital to shareholders “will be a worry for those who went without regular income for so long post-bailout and quite rightly consider cash as king.”
Market overview: Lloyds knocked down by profits miss and ‘illusionary buyback’
Digital Look – 31 Jul
http://www.digitallook.com/news/market-overview/market-overview-moneysupermarket-and-itv-lead-the-UK Index -movers–818487.html
RBS posts H1 loss on legal and shake-up costs
Scotsman – 31 Jul
http://www.scotsman.com/business/finance/rbs-posts-h1-loss-on-legal-and-shake-up-costs-1-3844714
London close: Stocks end higher despite Fed decision
Digital Look/Sharecast – 30 Jul
https://uk.finance.yahoo.com/news/london-close-stocks-end-higher-173200120.html
London midday: Heavyweight corporate earnings lift UK 100
Digital Look – 30 Jul
http://www.digitallook.com/news/market-report-midday/london-midday-heavyweight-corporate-earnings-lift-UK Index -100–817235.html
Europe midday: Stocks rise amid well-received corporate news
Digital Look – 30 Jul
http://www.digitallook.com/news/market-report-europe/europe-midday-stocks-rise-amid-well-received-corporate-news–817199.html
RBS reports surprise profit despite restructuring costs
Int. Bus. Times – 30 Jul
http://www.ibtimes.co.uk/rbs-reports-surprise-profit-despite-restructuring-costs-1513314
Shell leads UK Index higher on plans for 6,500 job cuts
CityWire – 30 Jul
http://citywire.co.uk/money/shell-leads-UK Index -higher-on-plans-for-6500-job-cuts/a830008
London market rides crest of corporate results wave
Proactive Investors – 30 Jul
http://www.proactiveinvestors.co.uk/companies/news/109485/london-market-rides-crest-of-corporate-results-wave-109485.html
Cautious Fed leaves door ajar for September hike
Proactive Investors – 30 Jul
http://www.proactiveinvestors.co.uk/columns/morning-market-pulse/22676/cautious-fed-leaves-door-ajar-for-september-hike-22676.html
Compass loses way on weak results in energy and mining
CityAM – 30 Jul
http://www.cityam.com/221263/compass-loses-way-weak-results-energy-and-mining
Gold steady ahead of Fed meeting
Proactive Investors – 29 Jul
http://www.proactiveinvestors.co.uk/companies/market_reports/109479/gold-steady-ahead-of-fed-meeting-109479.html
UPS impressed but will Fed-ex-plain rate timing more
Proactive Investors – 29 Jul
http://www.proactiveinvestors.co.uk/columns/morning-market-pulse/22669/ups-impressed-but-will-fed-ex-plain-rate-timing-more-22669.html
Market Report: Compass serves up £50m restructuring costs and worries City
Standard – 29 Jul
http://www.standard.co.uk/business/markets/market-report-compass-serves-up-50m-restructuring-costs-and-worries-city-10424117.html
Compass shares head south as world’s biggest caterer warns on profits as demand from oil rigs and mining camps fall
This is Money – 29 Jul
http://www.thisismoney.co.uk/money/markets/article-3178418/Compass-shares-head-south-world-s-biggest-caterer-warns-profits-demand-oil-rigs-mining-camps-fall.html
Hikma and Barclays help Britain’s UK Index to climb higher
Reuters – 29 Jul
http://www.reuters.com/article/2015/07/29/markets-stocks-UK Index -idUSL5N1092WD20150729
Barclays boosts UK Index on cost-cutting plans
CityWire – 29 Jul
http://citywire.co.uk/money/barclays-boosts-UK Index -on-cost-cutting-plans/a829719
Compass profits to take hit from restructuring
Telegraph – 29 Jul
http://www.telegraph.co.uk/finance/newsbysector/supportservices/11769978/Compass-profits-to-take-hit-from-restructuring.html
Zurich Insurance s’intéresse à Royal & Sun Alliance
Agefi – 28 Jul
http://www.agefi.com/ageficom/suisse-economie-politique/detail/edition/online/article/lassureur-zurichois-a-explique-quil-etait-en-train-devaluer-une-offre-sans-toutefois-confirmer-son-intention-den-faire-une-403747.html
RSA leads UK Index higher as Zurich eyes bid
CityWire – 28 Jul
http://citywire.co.uk/money/rsa-leads-UK Index -higher-as-zurich-eyes-bid/a829481
RSA share price soars as Zurich confirms takeover talks
CityAM – 28 Jul
http://www.onenewspage.com/n/Business/7554x932z/RSA-share-price-soars-as-Zurich-confirms-takeover.htm
Bounce or trounce?
Proactive Investors – 28 Jul
http://www.proactiveinvestors.co.uk/columns/morning-market-pulse/22659/bounce-or-trounce-22659.html
MARKET REPORT: UK Index retreats as traders sell out…April’s all-time high is now a distant memory as 2015’s gains disappear
This is Money – 27 Jul
http://www.thisismoney.co.uk/money/markets/article-3176557/MARKET-REPORT-UK Index -retreats-traders-sell-April-s-time-high-distant-memory-2015-s-gains-disappear.html
Futures are getting smoked
Business Insider – 27 Jul
http://uk.businessinsider.com/closing-bell-july-27-2015-7?r=US&IR=T
Ride crash costs Merlin a fortune
Interactive Investor – 27 Jul
http://www.iii.co.uk/articles/257541/ride-crash-costs-merlin-fortune
Alton Towers crash: Merlin issues profit warning after Smiler rollercoaster accident
Int. Bus. Times – 27 Jul
http://www.ibtimes.co.uk/alton-towers-crash-merlin-issues-profit-warning-after-smiler-rollercoaster-accident-1512734
Markets picking up…. where they left off
Proactive Investors – 27 Jul
http://www.proactiveinvestors.co.uk/columns/morning-market-pulse/22651/markets-picking-up-where-they-left-off-22651.html
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research
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