Highlights of the Day

Asian Markets

Japan was a bright spot in global markets, coming off a holiday a day earlier, as stocks elsewhere in the Asia-Pacific region were muted.

U.S. Markets

U.S. stocks closed higher as investors looked ahead to a key Federal Reserve meeting. Wall Street also cheered a big defense industry deal.

Today's News

ConvaTec Group announced the European introduction of GentleCath Glide on Monday, which it described as an “intermittent catheter” developed to provide convenient hydrophilic catheterisation for daily users. The firm said the availability of GentleCath Glide in European markets followed its successful launch in the US earlier in the year, and would be supported by the roll out of the ‘me+’ programme for continence care, which was an extension of the company’s direct-to-consumer programme in ostomy care.

 

Ocado reported a slight acceleration of growth in the third quarter of the year. In the 13 weeks to 27 August, the group generated 13.1% growth in retail sales from its own websites to £312.7m, up from the 12.5% increase in the first half of the year. Along with contracts for other companies, such as Morrison’s, this helped lift group revenue 14.3% to £344.5m. Average order size shrank 1.2% to £106.25, this was less than the 1.4% decline in basket size the first half of the year amid renewed grocery price inflation.

 

GlaxoSmithKline, alongside Innoviva, announced that the US Food and Drug Administration has approved once-daily, single inhaler triple therapy fluticasone furoate/umeclidinium/vilanterol under the brand name Trelegy Ellipta, for the long-term, once-daily, maintenance treatment of patients with chronic obstructive pulmonary disease (COPD).

 

Canada’s free trade deal with the European Union will form the basis for the post-Brexit economic relationship between Canada and Britain, UK Prime Minister Theresa May and Canadian Prime Minister Justin Trudeau said Monday. The two leaders also vowed to join forces in a fight to get aerospace giant Boeing to drop its trade complaint against Montreal-based Bombardier, which has a manufacturing operation in Northern Ireland.

 

Oil prices held largely steady, even as OPEC producers Saudi Arabia and Iraq pointed to a reduction in supplies in line with efforts to tighten the market and prop up prices.

 

Gold inched up from its lowest in over two weeks as the dollar shed some of its gains from the previous session, with market focus on a two-day Federal Reserve meeting that kicks off later in the day.

Companies Reporting this week

Day Companies
Today: Eagle Eye Solutions Group * Purecircle Limited (DI) * Anpario * Augean * Bango * DP Eurasia N.V. (DI) * Escher Group Holdings * Flowgroup * Gulf Keystone Petroleum Ltd Com Shs (DI) * Gulf Marine Services * Judges Scientific * Keywords Studios * Maxcyte (DI) * NAHL Group * Sinclair Pharma * Yu Group
Tomorrow: Accesso Technology Group * Attraqt Group * Cambian Group * Kingfisher * Science In Sport * Shield Therapeutics
Thursday: Kier Group * Pan African Resources * Cambridge Cognition Holdings * Elektron Technology * Mission Marketing Group * Quixant * Safestyle UK * Scisys * Venture Life Group
Friday: Smiths Group * Saga

Early Market Movements

Market Index Change % Change
UK 100 7,248.7 -4.6 -0.1%
UK 250 19,475.9 +38.1 +0.2%
GER 30 12,557.1 -2.3 -0.0%
FRA 40 5,227.4 -2.0 -0.0%
U.S. 30 22,331.35 +63.01 +0.3%
U.S. 500 2,503.9 +3.6 +0.2%
OIL (BRENT) 55.56 +0.08 +0.1%
GOLD 1,307.14 -0.30 -0.0%

UK Risers & Fallers (8:15am)

Company Price Change % Change
Stagecoach 164.15 +4.95 +3.1%
Ferguson 4640 +66 +1.4%
J Sainsbury 240.1 +3.1 +1.3%
Ocado 286.55 -15.45 -5.1%
Coca Cola HBC 2535 -41 -1.6%
NMC Health 2714 -37 -1.3%

Latest Broker Views

Company Broker Recommendation Price Target
Astrazeneca Berenberg Buy 4714 5800
Marshalls Group Jefferies Buy 442.3 490
Ferguson Citigroup Buy 4640 5220
Stagecoach Group Liberum Hold 164.15 155

Forthcoming Economic Data

Time/Date Previous Forecast Outcome
10:00am: German ZEW Economic Sentiment 10.0 12.3
1:30pm: U.S. Building Permits 1.23m 1.22m
1:30pm: U.S.Current Account -117bn -115bn

 

 

Sources

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1505799613962172900.html

 

https://www.digitallook.com/news/news-and-announcements/convatec-launches-new-intermittent-catheter-in-europe–2865836.html

 

https://www.digitallook.com/news/news-and-announcements/ocado-sales-swell-as-order-numbers-surge-in-third-quarter–2865808.html

 

https://www.digitallook.com/news/news-and-announcements/fda-approves-trelegy-ellipta-inhaler-for-glaxosmithkline-innoviva–2865852.html

 

http://www.reuters.com/article/global-precious/precious-gold-edges-up-as-dollar-eases-markets-brace-for-fed-meeting-idUSL4N1M007L

 

https://www.reuters.com/article/us-global-oil/oil-steady-on-tighter-middle-east-supplies-as-rising-u-s-output-weighs-idUSKCN1BT019

 

http://www.marketwatch.com/story/nikkei-surges-to-2-month-high-but-other-asian-markets-sag-2017-09-18

 

https://www.cnbc.com/2017/09/18/us-stocks-record-highs-fed-northrop.html

 

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