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UK Daily Hotline 
18 July 2014             By S Gale, Analyst
    
    
    
    
    
    
    
    
UK Index Summary
 CloseVolume1 day ChangeP&F TrendStop
FTSE 100 6738.32611.0m-46.35-0.7% Bull 22 Oct 2013 6500.00
FTSE 250 15554203.3m-46.22-0.3% Bear 10 Jul 2014 15650.00
FTSE SmallCap Index 4417.2153.4m-11.84-0.3% Bear 14 Apr 2014 4525.00
FTSE All Share 3591.37867.4m-22.18-0.6% Bear 10 Jul 2014 3680.00
Closing prices through Thu Jul 17, 2014

FTSE100 firmly lower in early deals on Ukraine concerns

MORNING REPORT: The headline index opened the session firmly lower this morning, with global investors spooked by the geopolitical crisis in Ukraine and escalating violence in Israel and Gaza...

In early trade, the FTSE100 was down 38.07 points at 6,700.25 and the FTSE250 112.8 points lower at 15,441.21.

US & ASIA

In the US last night, the Dow fell 161 points to 16,977, the Nasdaq lost 63 points at 4,363 and the S&P 500 shed 24 points at 1,958.

In Asia today, the Nikkei closed down 155 points at 15,216 and the Hang Seng was off 119 points at 23,401.

LONDON MARKETS

Increased tensions in Ukraine and Gaza spooked markets overnight and set the scene for early falls in London.

Banks were under the cosh after a damning report from the FCA over failures in retail banking and small business lending. Barclays fell 0.82p to 209.38p and Lloyds lost 0.47p at 72.70p, while Royal Bank of Scotland dropped 4.35p to 319.35p on reports it is under pressure to dispose of its Williams and Glyn's operation quickly.

Miners retreated as industrial metals prices eased, with Rio Tinto down 57.25p at 3,257.75p, Antofagasta off 6.5p at 805.5p and BHP Billiton 21.75p lower at 1,987.25p.

House builder Barratt Developments fell 10.45p to 353.15p after Liberum Capital downgraded the shares to hold from buy and lower its target price to 387p from 468p. Peer Persimmon lost 22p at 1,244p in sympathy.

Luxury brand Burberry fell 9.5p to 1,425.5p as an Exane BNP Paribas upgrade to outperform from neutral failed to offset bearish market moves.

Ireland-based pharmaceutical group Shire advanced 20p to 4,826p, as AbbVie prepares to confirm its acquisition of the company.

Airline groups performed well, despite the bringing down of the Malaysian Airways jet over Ukraine. easyJet climbed 5p to 1,346p and IAG gained 4.1p at 334.8p.

Broadcaster ITV ticked up 0.5p to 195.6p as investors anticipate a possible takeover by Liberty Global following its acquisition of BSkyB's stake in the group.

Investors turned to utilities for safety today. Waste and water group United Utilities gained 6p at 888p, while Severn Trent added 11p at 1,897p.

Imperial Tobacco edged up 0.5p at 2,679.5p; also seen as a safety play.

 

Apologises, an incorrect morning report was previously published this morning.


Stock Action

We highlight Bodycote as it finds price and relative support bullish VAD divergence.

We highlight Hargreaves Lansdown as it confirms its top formation with failure at its previous support (now resistance).
We show BBA Group as it continues to develop price and relative base formations.
Portfolio Update

We close our short position in British Sky Broadcasting as it tests its potential top formation on bullish VAD. 

We highlight Weir Group as it tests recent prce and recent highs.
Chart of the day: TLPR

We highlight Tullett Prebon as it finds price and relative support on positive momentum.

Portfolio
UK Equity Trading (long/short) Longs
Date Stock Code Type Open Price Current Price % P&L Stop Comment
17 Apr 2014 Whitbread PLCWTB Long 4055 4236 +4.46%3770
22 Apr 2014 Daily Mail & General TrustDMGT Long 837 817 -2.39%785
28 Apr 2014 Unilever PLCULVR Long 2615 2641 +0.99%2515
8 May 2014 United Business Media PLCUBM Long 669 656.5 -1.87%645
9 May 2014 Segro PLCSGRO Long 363.7 353.6 -2.78%340
28 May 2014 Rolls-Royce Group PLCRR/ Long 1016 1040 +2.36%980
29 May 2014 William Hill PLCWMH Long 355.2 353.9 -0.37%320
12 Jun 2014 Micro Focus Intl PLcMCRO Long 848 854 +0.71%805
18 Jun 2014 BP PLCBP/ Long 514.4 496.8 -3.42%494
18 Jun 2014 Capita Group PLCCPI Long 1151 1133 -1.56%1120
19 Jun 2014 Weir GroupWEIR Long 2688 2742 +2.01%2540
26 Jun 2014 Vodafone Group PLCVOD Long 194.25 195.25 +0.51%188
27 Jun 2014 Compass Group PLCCPG Long 1016 1007 -0.89%975
2 Jul 2014 Antofagasta PLCANTO Long 781.5 812 +3.90%735
8 Jul 2014 Catlin Group LtdCGL Long 550.5 545 -1.00%525
10 Jul 2014 GlaxoSmithKline PLCGSK Long 1572 1549.5 -1.43%1530
11 Jul 2014 Capital & Counties Properties PLCCAPC Long 329.1 323.6 -1.67%310
16 Jul 2014 Thomas Cook Group PLCTCG Long 126.2 124.7 -1.19%120
UK Equity Trading (long/short) Shorts
Date Stock Code Type Open Price Current Price % P&L Stop Comment
8 May 2014 Hunting PlcHTG Short 832.5 845 -1.50%875
9 May 2014 John Wood Group PLCWG/ Short 770 772.5 -0.32%820
15 May 2014 Ophir Energy PLCOPHR Short 253.4 201 +20.68%270
20 May 2014 Pearson PLCPSON Short 1156 1109 +4.07%1220
2 Jun 2014 Close Brothers Group PLCCBG Short 1296 1235 +4.71%1380
23 Jun 2014 Royal Bank of Scotland Group PLCRBS Short 330 323.7 +1.91%355
27 Jun 2014 BG Group PLCBG/ Short 1246.5 1187.5 +4.73%1315
30 Jun 2014 RSARSA Short 474.8 461.2 +2.86%500
4 Jul 2014 Sage Group PLCSGE Short 386.1 379 +1.84%400
4 Jul 2014 IG Group Holdings PLCIGG Short 588.5 585.5 +0.51%610
8 Jul 2014 International Personal Finance PlcIPF Short 570 570.5 -0.09%610
9 Jul 2014 Aviva PLCAV/ Short 493.9 490.8 +0.63%530
15 Jul 2014 Provident Financial PLCPFG Short 2130 2114 +0.75%2220
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