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Morning Report - 26 February 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
EVRAZ PLC 598.4 6.0%
DS SMITH PLC 405.9 5.7%
ANGLO AMERICAN PLC 2,953.5 3.9%
RIO TINTO PLC 6,480.0 2.0%
BP PLC 304.6 1.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
STANDARD CHARTERED PLC 478.0 -6.2%
INTERMEDIATE CAPITAL GROUP 1811.0 -4.7%
POLYMETAL INTERNATIONAL PLC 1452.0 -3.6%
PERSIMMON PLC 2671.0 -3.4%
BERKELEY GROUP HOLDINGS/THE 4172.0 -3.4%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,652 -0.1% -5.6%
DOW JONES INDUS. AVG 31,402 -1.8% 16.5%
DAX INDEX 13,879 -0.7% 8.5%
NIKKEI 225 28,966 -4.0% 29.2%
S&P/ASX 200 INDEX 6,673 -2.4% -0.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 62.82 -1.12%
Brent Crude (ICE) USD/bbl. 66.09 -1.18%
Gold Spot USD/t oz. 1,757 -0.7%
Copper (Comex) USd/lb. 421 -1.2%
UK 100 is called to open -75 points this morning at 6575.

1 Hour; 2 months

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Markets Overview:

 

UK 100 is called to open -75 points this morning at 6575.  Calls for a negative open this morning come as investors react to rising fears of higher interest rates, which triggered a big selloff on Wall Street last night.  Concerns seem to be rising about the impact on inflation of the big stimulus packages being lined up President Joe Biden.  However the UK 100 seems to be holding significantly stronger than many other global markets.  Sentiment towards UK listed stocks is possibly being bolstered by the weakness of sterling against the greenback; the pound is more than half a cent lower against the dollar this morning.  Stateside yesterday we saw a 560 point fall (to 31,402) on the Dow Jones and a 96 point tumble to 3,829 by the S&P.  In Asian markets overnight the mood was similar. Japan’s Nikkei 225 was 1,161 points lower at 29,007 and Hong Kong’s Hang Seng is 892 points weaker at 29,182.

 

Company News & Broker Comments:

 

Company News:

IAG posted a loss of 4.37bn euros for FY 2020, slightly better than analysts' forecasts of a 4.45bn euro loss after a year of minimal flying and burning through cash. They have total liquidity of 10.3bn euros and they could not provide a future profit forecast due to the uncertainty of COVID-19 duration. They flew at 33.5% of 2019 passenger capacity in all of 2020.

 

Pets & Home now expects their FY underlying pretax profit to be £85m.

 

Rightmove report that their 2020 operating profit came in at £135.1m, down 37% YoY. They have declared a final dividend of 4.5p per share v 0p paid in the prior year.

 

RSA Insurance posts a 2020 pretax profit of £483m (2019: £492m).

 

Tullow Oil agrees new reserves-based debt capacity of $1.7bn (down from $1.8bn) with $900m liquidity headroom after lowered debt facility cap.

 

Broker Comments:

No new broker comments

 

 

Reporting Today:

 

IMI

International Consolidated Airlines Group

JP Morgan Emerging Markets Investment Trust

Jupiter Fund Management

Pantheon International

RSA Insurance Group

Rightmove

UNITE Group

 

 

Reporting Monday:

 

Aggreko

Bunzl

 

In Focus Today:

 

 

EU leaders summit

US Personal Income

US Personal Spending

 

 

Today's Ex Dividends:

 

UK 100:

 

BHP Group

Rio Tinto

Standard Chartered

St. James's Place

Berkeley Group Holdings

 

 

UK 250:

 

Diversified Gas & Oil

Oxford Instruments

Safestore Holdings

Renishaw

Ashmore Group

Scottish American Investment Company

Jlen Environmental Assets Group

HICL Infrastructure

Personal Assets Trust

Dechra Pharmaceuticals

Genus

 

 

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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.


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