Maitland/AMO Morning Monitor – Monday 15 April 2019

15th April 2019

Market Information

The FTSE, CAC and DAX are all set to open higher today.

In Asia, markets were up today after U.S. Treasury Secretary Steve Mnuchin said he was hopeful trade talks with China would soon come to a close.

In the news

  • NHS hands doctors cash top-ups to halt wave of early retirements
  • Report finds UK only large advanced economy to see decline productivity growth this year
  • Leadership rivals urge PM to stay for months to avoid leadership contest

Top Financial Announcements

* Maitland Client

IG Group Holdings PLC Directorate Change
  • Andy Green will step down as CEO effective September 2019.
  • Malcolm Le May, Senior Independent Director, will lead the Nominations Committee in the search for the next CEO.
  • Malcolm Le May, said: “The Board would like to record its appreciation for Andy’s contribution over 5 plus years. He has overseen a period of significant regulatory and business change. We thank him for his wisdom and sound counsel throughout his tenure.”
Kier Group PLC Appointment of Chief Executive & Strategic Review
  • Andrew Davies has today joined as CEO and that Philip Cox has resumed the role of Non-Executive Chairman.
  • Kier also announces that Andrew Davies will lead a strategic review of the Group which will consider ways of further simplifying Kier to create a more focused group, the allocation of capital resources across the Group and additional steps to improve cash generation and reduce leverage.
  • The conclusions of the review will be announced in July.
Gulf Investment Fund PLC* Quarterly Report Q1 2019
  • NAV increased by 12.2%. The Company’s benchmark, the S&P GCC Index, increased 8.7%.
  • Since investment policy change in late 2017, NAV increased by 31.8% (S&P GCC +21.0%).
  • On 31 March 2019, the Company’s share price was trading at a 11.4% discount to NAV.