The FTSE 100 starts a new shift on the front foot; Coca Cola HBC Boosted By Goldman Sachs Upgrade


The FTSE 100 got off to a flying start, drawing inspiration from major markets on Wall Street and Asia.The start of the last quarter of the year led to a first assessment. While the UK’s blue chip index is around 1,700 points, or 22%, outside of its peak, US markets have remained resilient to COVID.

It remains to be seen how long this can continue with the presidential race starting to escalate.

Richard Hunter, head of markets at Interactive Investor, expects the election to be “an aggressive affair” that will challenge the “fragile” recovery in the United States.

Meanwhile, “in the background, unemployment remains a thorn on the side of politicians,” he added.

Back here at home, the lockdown of large swathes of the north looks set to hamper any recovery, while fears of further and more draconian action continue to contain any positivity.

This is the real thing …

Topping the Footsie was a Coca Cola HBC (LON: CCB) bottler and distribution group, which was up 3.5% after an upgrade to “buy”.

A 5% rise in Rank’s share price () made the market question whether the bingo and casinos group would be the next sector recovery target now that William Hill () has agreed to be acquired. .

Among the tiddlers, () rose 16% after saying he was buying student publisher The Tab for what looks like a steal of £ 750,000.

6:43 am: departure of the front foot planned

The FTSE 100 looks set to start the fourth quarter on the front as equity markets find support overall.

London’s blue-chip benchmark is around 17 points higher, with CFD firm IG pricing 5882 to 5885 with just over an hour to open. The ex-dividend FTSE 100 takes 4.93 points off the index this morning.

US policy remains at the center of the concerns of traders, but not the televised shouting contest between Donald Trump and Biden which, while making a lot of noise, has not yet moved the markets.

Attention has been drawn to US Treasury Secretary Steven Mnuchin and the prospects for economic relief from COVID-19 which continues in political football. Republican Mnuchin is looking to engage with Demoncrats on the stimulus, amid a two-month political stalemate, and it obviously looks like it’s easing the feelings of traders.

“Earlier this week, Democrats called for a package that was lower than previously proposed, they presented a package worth $ 2.2 trillion. The Republicans are thought to be interested in a deal worth around $ 1.5 trillion, so there’s still a big gap when both sides want it, ”said David Madden, analyst at CMC Markets.

“Mr. Mnuchin’s comment gave dealers hope that some sort of compromise could be reached. ”

On Wall Street, the Dow Jones added 329 points or 1.2% on Wednesday to close at 27,781.

The S&P 500 gained 0.83% to close at 3363 and the Nasdaq finished 0.74% higher at 11,167.

The benchmark Russell 2000 focusing on small caps, meanwhile, only rose 0.2% to 1507.

In Asia, Japan’s Nikkei was trading flat at around 23,184. There is no trade in Hong Kong or Shanghai due to the National Day holidays.

Around the markets

The pound: US $ 1.2938, up 0.14%

Gold: $ 1,892 per ounce, up 0.28%

Silver: US $ 23.68 per ounce, up 1.39%

Brent: US $ 40.95 per barrel, down 0.19%

WTI crude: US $ 40.23 per barrel, up 2.39%

Bitcoin: US $ 10,824, up 0.7%

6h45: Early Markets: Asie / Australie

The Japanese Stock Exchange in Tokyo halted operations today due to a technical issue and markets in China, Hong Kong, South Korea and Taiwan are closed for the holidays today.

Other Asia-Pacific markets advanced, with Singapore’s Straits Times index rising 1.26% while India’s Nifty 50 was up 1.37%.

In Australia, the S & P / ASX 200 got off to an excellent start in October, advancing 76 points or 1.31% to 5,892.

This follows a positive lead from Wall Street which rallied yesterday on hopes that the US Congress would move closer to another stimulus package to help stimulate the economy.


Proactive News from Australia:

9Spokes International Ltd () has completed an A $ 10 million two-tranche investment that will support the company’s focus on continuous improvement of its platform for approximately two years.

() produced a large 7.5 kilogram sample of a high purity metal dysprosium through its partner Ziron Technology Corporation at its commercial pilot plant in South Korea.

Extension and infill exploration drilling of () at the Bellevue Gold Project in Western Australia intersected high grade mineralization both outside and inside the existing known resource limit.

() has entered into a binding agreement with the private group Wyloo Metals Pty Ltd to acquire two buildings to complement the existing tenure in the Broken Hill area, in the far west of New South Wales.

Legend Mining Ltd () has identified a powerful new electromagnetic (EM) conductor at Hurley prospect which increases the potential of the Rockford Project on the Fraser Range of WA.

() kicked off its most recent technology integration live with RealMe, the digital identity service run by the New Zealand Department of Internal Affairs.

Ltd () confirmed additional mineralization at the Mary Valley Manganese project near Gympie, south-eastern Queensland, following drilling in Stage 1.

() is making great strides towards the development of the Abujar gold project in west-central Côte d’Ivoire with an expected resource upgrade and a pre-feasibility study (PFS) being finalized.

Auteco Minerals Ltd () (OTCMKTS: MNXMF) is expected to deliver a new generation of growth after eight productive months since the acquisition of the Pickle Crow gold project in Ontario, Canada.

() has signed a Non-Exclusive Framework Services Agreement (MSA) with Optimum Interface Consulting (OIC) of India, which provides risk investigation and mitigation services, including the provision of anti- counterfeit.


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