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Morning Report - 1 March 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
INTL CONSOLIDATED AIRLINE-DI 192.0 3.1%
RECKITT BENCKISER GROUP PLC 6,000.0 0.8%
KINGFISHER PLC 265.4 0.6%
RSA INSURANCE GROUP PLC 675.4 -0.1%
NATWEST GROUP PLC 184.2 -0.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
RIGHTMOVE PLC 565.0 -6.8%
ANGLO AMERICAN PLC 2772.5 -6.1%
BRITISH LAND CO PLC 489.6 -5.8%
SCOTTISH MORTGAGE INV TR PLC 1135.0 -5.1%
IMPERIAL BRANDS PLC 1333.0 -4.8%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,483 -2.5% -1.5%
DOW JONES INDUS. AVG 30,932 -1.5% 21.7%
DAX INDEX 13,786 -0.7% 16.0%
NIKKEI 225 29,664 2.4% 40.3%
S&P/ASX 200 INDEX 6,790 1.7% 5.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 62.71 1.97%
Brent Crude (ICE) USD/bbl. 65.69 1.97%
Gold Spot USD/t oz. 1,758 1.4%
Copper (Comex) USd/lb. 416 1.6%

 

UK 100 is called to open +54 points this morning at 6537.

1 Hour; 2 months

Click graph to enlarge

Markets Overview:

 

UK 100 is called to open +54 points this morning at 6537.  A positive open is expected today as both bond and equity markets returning to some sort of normality after the recent sell-off.  This comes amid reports that Rishi Sunak will upgrade forecasts on the UK’s economic recovery from Covid at this week’s Budget.  Asian markets were higher on Monday even as China’s official manufacturing Purchasing Managers’ Index (PMI) for February came in at 50.6, lower than January’s reading of 51.3 (The reading is still above the 50 level that separates expansion from contraction).  The Hang Seng index in Hong Kong rose 1.39% while the Shanghai Composite in China gained 1.06%.  In Japan, the Nikkei 225 surged 2.47%.

 

Company News & Broker Comments:

 

Company News:

 

Aggreko reports a 2020 pretax loss of £73m (2019: £199m profit) as they take a £175m exceptional charge. They have declared a 2020 dividend of 15p, up from 0.38p previously.

 

AstraZeneca has sold its 7.7% stake in Moderna for more than $1bn.

 

Bunzl reports a 2020 pretax profit of £555.7m (2019: £453.3m).

 

Halfords FY21 profit range is expected to be "quite broad" due to volatile trading patterns.

 

Restaurant Group inks commitments for £500m of new debt facilities as their net debt at end of Dec 2020 was around £340m, which was in line with expectations.

Broker Comments:

Barclays Upgrades Pennon Group to Overweight from Equal weight (2 Buys / 8 Holds / 0 Sells)

 

Jefferies Downgrades Superdry to Hold from Buy (3 Buys / 4 Holds / 1 Sell)

 

 

Reporting Today:

 

Aggreko

Bunzl

 

 

 

Reporting Tomorrow:

 

Ashtead

Fresnillo

Hiscox

Intertek

Rotork

Taylor Wimpey

Travis Perkins

Weir Group

 

In Focus Today:

 

 

China Non-Manufacturing PMI

German Harmonised Index of Consumer Prices

US ISM Manufacturing PMI

ECB President Lagarde Speech

China Manufacturing PMI

German Markit Manufacturing PMI

UK Markit Manufacturing PMI

Fed's Williams Speech

Fed's Brainard Speech

US Markit Manufacturing PMI

 

 

This week'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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