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Morning Report - 2 September 2021

Yesterday’s UK100 Leaders	Price (p)	% Chg
JUST EAT TAKEAWAY	7,055.0	7.6%
INFORMA PLC	556.4	4.8%
OCADO GROUP PLC	2,086.0	3.6%
JD SPORTS FASHION PLC	1,040.0	3.0%
RIGHTMOVE PLC	720.6	2.7%

Yesterday’s UK100 Laggards	Price (p)	% Chg
ROYAL MAIL PLC	485.7	-2.0%
PRUDENTIAL PLC	1481.0	-1.9%
ANTOFAGASTA PLC	1434.0	-1.5%
BHP GROUP PLC	2231.0	-1.2%
FRESNILLO PLC	844.0	-1.2%

Major World Indices	Price	% Chg	1 YEAR
UK 100 INDEX	7,150	0.4%	20.4%
DOW JONES INDUS. AVG	35,313	-0.1%	21.4%
DAX INDEX	15,824	-0.1%	19.5%
NIKKEI 225	28,544	0.3%	22.7%
S&P/ASX 200 INDEX	7,486	-0.6%	23.5%

Commodities	Units	Price	% Chg
WTI Crude Oil (Nymex)	USD/bbl.	68.33	-0.38%
Brent Crude (ICE)	USD/bbl.	71.38	-0.29%
Gold Spot	USD/t oz.	1,814	0.0%
Copper (Comex)	USd/lb.	429	0.3%

The UK 100 is called to open -20 today at 7130.

1 day; 7 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -20 today at 7130. Calls for a modestly lower open today, following a mixed session yesterday for the UK blue chip index. The picture was similar on Wall Street yesterday. The Dow Jones dropped by 0.14% at 35,312 whilst the S&P was marginally higher at 4,524. The Nasdaq keep hold of recent gains and remains around the levels of its record highs, closing out Wednesdays session at 15,309. In Asia this morning, sentiment was positive, Japan’s Nikkei gained 0.23% to trade at 28,515 and Hong Kong’s Hang Seng gained to close at 26,030 whilst the Shanghai Composite rose 0.49% to 3,584.

Company News & Broker Comments:

Company News:

Barratt Developments have forecast robust forward sales, allaying concerns about a cooling housing market following the partial removal of a temporary cut in property purchase tax. They reported a FY pretax profit of £812.2m (2020: £491.8m).

Domino's Pizza Group completes the sales of its entire shareholding in Swiss business.

Jet2 state that they are operating at around 55% of pre-COVID summer 2019 capacity, with slowing momentum for winter 21/22 bookings. However, summer 2022 bookings are encouraging.

Melrose swung to a H1 profit after recovery in its aerospace division following the resumption of some air travel and stringent cost cuts that helped it make up for a hit from chip shortages. Adjusted operating profit for H1 came in at £223m (2020: £11m loss).

Wizz Air reports August passenger numbers of 3.6m and a load factor of 83.6%.

Broker Comments

Barclays Upgrades Homeserve to Overweight from Equal weight (7 Buys / 2 Holds / 2 Sells)

JP Morgan Downgrades Unilever to Underweight from Neutral (7 Buys / 5 Holds / 2 Sells)

Reporting Today:

Barratt Developments

Melrose Industries

Reporting Tomorrow:

Ashmore

In Focus Today:

US Initial Jobless Claims

US Nonfarm Productivity

US Factory Orders

Today's Ex-Dividends:

FTSE 100:

BHP Group

Admiral Group

Glencore

Antofagasta

Glencore

FTSE 250:

PageGroup

Centamin

Redde Northgate

Diversified Energy Company

Rathbone Brothers

Quilter

LondonMetric Property

Clarkson

Grafton Group

Convatec Group

Genuit Group

Savills

Alliance Trust

JPMorgan American Investment Trust

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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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