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Morning Report - 23 July 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
FLUTTER ENTERTAINMENT PLC-DI 12,985.0 4.5%
3I GROUP PLC 1,257.5 3.8%
JUST EAT TAKEAWAY 5,936.0 3.5%
ENTAIN PLC 1,851.5 3.3%
OCADO GROUP PLC 1,841.0 3.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
UNILEVER PLC 4045.5 -6.0%
NATWEST GROUP PLC 194.1 -2.7%
RECKITT BENCKISER GROUP PLC 6196.0 -2.6%
BP PLC 282.9 -2.3%
RIO TINTO PLC 5837.0 -2.2%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,962 -0.5% 12.7%
DOW JONES INDUS. AVG 34,776 -0.1% 28.8%
DAX INDEX 15,508 0.6% 18.6%
NIKKEI 225 27,548 0.6% 21.1%
S&P/ASX 200 INDEX 7,386 1.1% 21.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 70.68 0.54%
Brent Crude (ICE) USD/bbl. 72.68 0.62%
Gold Spot USD/t oz. 1,804 0.0%
Copper (Comex) USd/lb. 434 1.6%
The UK 100 is called to open +31 points today at 6996. 

1 day; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +31 points today at 6996. Asian markets were mixed last night after a somewhat volatile week, where sentiment was negative and positive on any slight headline relating to the Delta variant of the coronavirus. The outlook for developed countries looks bright, but emerging markets prospects remain unclear. Investors will ahead to next week, where the Federal Reserve's policy meeting will discuss further about tapering and when it is expected, though Jerome Powell says the labour market is well short of targets. The IMF has reiterated that the Fed have been "highly effective", but must carefully communicate their withdrawal plans Elsewhere, the ECB pledged not to raise rates until inflation was sustainably at its 2% target. Gold dipped to $1,802 an ounce. Oil prices have also been boosted by speculation demand will outpace supply in coming months even after OPEC+ agreed to expand production. Brent was last down 27 cents at $73.52 a barrel, after jumping overnight, while U.S. crude lost 25 cents to $71.66 per barrel.

Company News & Broker Comments:

Company News:

Beazley swung to a profit for H1 (2020: $13.8m loss), supported by an improvement in premium rates across its divisions and releasing $95.7m it had previously reserved for claims. They reported a pretax profit of $167.3m but refrained from declaring a dividend saying it will consider that at the year end.
 
Brewin Dolphin reported quarterly net inflows of 700m, helping its total funds grow by 6.5%, as vaccination drives a clearer economic outlook encouraged people to commit to investment planning. Total funds rose by £56bn in Q3, breaking an earlier record of 51.4bn in the previous quarter.
 
NatWest are to sell Ulster bank's asset finance business to Permanent TSB.
 
Premier Foods reports FY adjusted profit before tax at the top end of expectations.
Ultra Electronics receives possible offer of £35 per share from Cobham.
Vodafone reported better-than-expected 3.3% rise in Q1 service revenue, including a one-off gain of around 1.0% point following COVID-19 disruption last year. They have returned to service revenue growth in Europe as well as Africa, as analysts had on average expected a rise of 1.4%.

Broker Comments:

 

Exane BNP Downgrades Aviva to Underperform (8 Buys / 6 Holds / 0 Sells)

 

Reporting Today:

 

Beazley

Brewin Dolphin

Premier Foods

Vodafone

 

Reporting Monday:

 

Cranswick

 

In Focus Today:

 

German Manufacturing PMI

EU Market PMI Composite

UK Markit Serivces PMI

UK GfK Consumer Confidence

UK Retail Sales

EcoFin Meeting

Next Week's Ex-Dividends:

 

FTSE 100:

 

SSE

Royal Mail

 

FTSE 250:

 

BB Healthcare Trust

Sequoia Economic Infrastructure Inc Fnd

QinetiQ Group

Hipgnosis Songs Fund

Bankers Investment Trust

Monks Investment Trust

 

 

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