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Morning Report - 22 March 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
OCADO GROUP PLC 2,022.0 2.1%
SAINSBURY (J) PLC 244.8 1.6%
NATIONAL GRID PLC 842.0 1.6%
DCC PLC 6,246.0 1.5%
AVAST PLC 476.0 1.4%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
ROLLS-ROYCE HOLDINGS PLC 117.0 -6.1%
INTL CONSOLIDATED AIRLINE-DI 206.7 -4.2%
BT GROUP PLC 145.4 -3.9%
BURBERRY GROUP PLC 2035.0 -3.7%
ANGLO AMERICAN PLC 2804.5 -3.4%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,709 -1.1% 29.2%
DOW JONES INDUS. AVG 32,628 -0.7% 70.2%
DAX INDEX 14,621 -1.1% 63.8%
NIKKEI 225 29,174 -2.1% 76.3%
S&P/ASX 200 INDEX 6,752 0.7% 40.2%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 60.39 -1.68%
Brent Crude (ICE) USD/bbl. 63.80 -1.13%
Gold Spot USD/t oz. 1,730 -0.9%
Copper (Comex) USd/lb. 409 -0.6%

 

UK 100 is called to open -23 points this morning at 6685.

1 Day; 10 Months

Click graph to enlarge

Markets Overview:

 

UK 100 is called to open -23 points this morning at 6685.  Calls for a weaker open today come as focus once again has switched to the ongoing concerns regarding the Covid vaccine in mainland Europe and the bloc's position on exports of the vaccine to the UK.  Also in focus will be growing concerns that overseas travel may get pushed  until this is resolved.  Elsewhere President Erdogan, has removed central bank chief Naci Agbal, sending the Turkish Lira lower.  This led to a mixed session in Asia, The Hang Seng index in Hong Kong slipped 0.03% while the Shanghai Composite in China gained 0.89%.  In Japan, the Nikkei 225 fell more than 2% and South Korea’s Kospi declined 0.04%.

 

Company News & Broker Comments:

 

 

Company News:

 

Centamin reports a 2020 pretax profit of $315m (2019: $173m) as the gold produced in 2020 fell 6%. They realised an average gold price of $1,766 per ounce (up from $1,399). They declared a 3.0 US cents final dividend as their output, cost and dividend outlook are all unchanged from previous guidance.

 

Deliveroo sets their IPO price range between £3.90 and £4.60.

 

Kingfisher reported a 44% jump in FY 2020 pretax profit, driven by the popularity of DIY projects during the COVID-19 pandemic. They made an adjusted profit before tax of £786m, ahead of analysts' average forecast of £757m (2019: £544m).

Broker Comments:

 

Deutsche Bank Downgrades IAG to Hold from Buy (9 Buys / 5 Holds / 0 Sells)

 

JP Morgan Downgrades Virgin Money to Underweight from Neutral (7 Buys / 13 Holds / 3 Sells)

 

JP Morgan Upgrades Lloyds to Overweight from Neutral (6 Buys / 7 Holds / 3 Sells)

 

RBC Upgrades Travis Perkins to Outperform from Sector Perform (7 Buys / 11 Holds / 1 Sell)

 

UBS Upgrades Rightmove to Buy from Neutral (2 Buys / 7 Holds / 5 Sells)

 

UBS Upgrades Computacenter to Neutral from Sell (4 Buys / 2 Holds / 1 Sell)

 

 

Reporting Today:

 

Centamin

Kingfisher

Diploma

 

 

Reporting Tomorrow:

 

Elementis

 

In Focus Today:

 

 

PBoC Interest Rate Decision

Fed's Chair Powell speech

Chicago Fed National Activity Index

Fed's Daly speech

Fed's Quarles speech

Fed's Bowman speech

 

This Week's Ex Dividends:

 

UK 100:

 

British American Tobacco

NatWest Group

Prudential

Schroders

Pearson

Ferguson

 

UK 250:

 

BB Healthcare Trust

XP Power

Vistry Group

CLS Holdings

Close Brothers Group

Fidelity European Values

Ferrexpo

Games Workshop Group

888 Holdings

Mercantile Investment Trust

 

 

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.


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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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