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Morning Report - 6 October 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
BARCLAYS PLC 194.6 3.9%
LLOYDS BANKING GROUP PLC 46.5 3.8%
GLENCORE PLC 367.6 3.6%
JD SPORTS FASHION PLC 1,069.0 3.3%
STANDARD CHARTERED PLC 441.8 3.1%

 

Yesterday’s UK100 Laggards Price (p) % Chg
HIKMA PHARMACEUTICALS PLC 2316.0 -2.9%
RECKITT BENCKISER GROUP PLC 5571.0 -1.5%
ITV PLC 106.1 -1.3%
MELROSE INDUSTRIES PLC 169.1 -1.1%
BERKELEY GROUP HOLDINGS/THE 4226.0 -1.1%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,077 0.9% 18.9%
DOW JONES INDUS. AVG 34,315 0.9% 21.9%
DAX INDEX 15,194 1.1% 18.4%
NIKKEI 225 27,535 -1.0% 17.5%
S&P/ASX 200 INDEX 7,207 -0.6% 20.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 79.21 0.35%
Brent Crude (ICE) USD/bbl. 82.85 0.35%
Gold Spot USD/t oz. 1,752 -0.5%
Copper (Comex) USd/lb. 415 -1.0%
The UK 100 is called to open -50 points today at 7027. 

4 hours; 7 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -50 points today at 7027.  Calls for a weaker open today come after a bumper session yesterday for European indices.  Stocks in Asia were also lower this morning, as the Reserve Bank of New Zealand raised its official cash rate to 0.5%, among the first advanced economies to do so since the beginning of the pandemic.  In Japan, the Nikkei fell 0.83% and Hong Kong’s Hang Seng index slipped 0.05% while Mainland Chinese markets remain closed for the holidays.  The picture was brighter on Wall Street yesterday, as all three major benchmarks bounced from Mondays tech driven sell off, The Dow Jones gained 311.75 points, or 0.92%, to close at 34,314.67. The S&P rose 1.05% to end the session at 4,345.72 and the Nasdaq rallied 1.25% to trade at 14,433.83.

 

Company News & Broker Comments:

 

Company News:

Ferrexpo states their Q3 iron ore pellet production was 2.6m tonnes +2%; YTD 8.2m tonnes +0.3%.
Galliford Try's building business gets £1.6bn LHC public sector framework.
Imperial Brands says they are on track to meet their FY organic profit growth forecast, encouraged by higher cigarette prices and lower losses in its next-generation products business. Overall tobacco volumes were in line with its estimates, and they expect the total group cigarette market share to grow by around 0.2%. They are also on course to meet its low-to mid-single digit organic adjusted operating profit growth.
IP Group announce that their CEO Alan Aubrey will leave the company immediately.
Lookers says Q3 trading is strong and above board's expectations.
Rolls-Royce names Airbus executive Grazia Vittadini as their new CTO.
Tesco has raised its FY outlook as they reported a 16.6% rise in H1 core retail profit and increased sales despite labour and supply chain disruption. The group have forecast a FY 21/22 adjusted retail operating profit of between £2.5-2.6bn. They posted an adjusted retail operating profit of £1.386bn in H1 ahead of average analysts' forecasts of £1.262bn.
TUI has announced another capital raise of 1.1bn euros as they state they have seen a bounce in holiday booking as travel curbs have been relaxed.

 

Broker Comments

 

Bernstein Upgrades Rolls-Royce to Market perform from Underperform (4 Buys / 7 Holds / 3 Sells)
Exane BNP Downgrades Homeserve to Underperform from Outperform (7 Buys / 1 Hold / 2 Sells)
Exane BNP Upgrades Rio Tinto to Outperform from Neutral (7 Buys / 10 Holds / 3 Sells)
RBC Downgrades Close Brothers to Sector perform from Outperform (2 Buys / 9 Holds / 0 Sells)
UBS Upgrades HSBC to Buy (7 Buys / 9 Holds / 3 Sells)

 

Reporting Today:

 

Genesis Emerging Markets Fund*

Imperial Brands

Tesco

 

*Estimated Preliminary Results

 

Reporting Tomorrow:

 

Baillie Gifford Japan Trust*

ICG Investment Trust*

Mondi

Volution Group

 

*Estimated Preliminary Results

 

 

In Focus Today:

 

EU Retail Sales

US ADP Employment Change

German Factory Orders s.a.

 

Tomorrow's Ex-Dividends:

 

FTSE 100:

 

Smith (DS)

Taylor Wimpey

Kingfisher

 

FTSE 250:

 

Weir Group

Spectris

Bodycote

Morgan Sindall Group

Murray International Trust

Synthomer

Vistry Group

Finsbury Growth & Income Trust

F&C Investment Trust

JPMorgan Emerging Markets Invest Trust

 

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