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Morning Report - 18 November 2021

Yesterday’s UK 100 Leaders	Price (p)	% Chg
SAGE GROUP PLC/THE	800.0	9.7%
AVEVA GROUP PLC	3,459.0	2.9%
SMITHS GROUP PLC	1,507.5	2.9%
GLENCORE PLC	372.0	2.3%
FRESNILLO PLC	986.8	1.8%

Yesterday’s UK 100 Laggards	Price (p)	% Chg
LONDON STOCK EXCHANGE GROUP	6666.0	-6.0%
SPIRAX-SARCO ENGINEERING PLC	16165.0	-4.9%
SSE PLC	1587.0	-4.3%
EXPERIAN PLC	3373.0	-4.0%
INTL CONSOLIDATED AIRLINE-DI	154.6	-3.4%

Major World Indices	Price	% Chg	1 YEAR
UK 100 INDEX	7,291	-0.5%	14.6%
DOW JONES INDUS. AVG	35,931	-0.6%	20.6%
DAX INDEX	16,251	0.0%	23.7%
NIKKEI 225	29,688	-0.4%	15.4%
S&P/ASX 200 INDEX	7,370	-0.7%	12.8%

Commodities	Units	Price	% Chg
WTI Crude Oil (Nymex)	USD/bbl.	78.11	-3.28%
Brent Crude (ICE)	USD/bbl.	80.29	-2.60%
Gold Spot	USD/t oz.	1,867	0.9%
Copper (Comex)	USd/lb.	421	-3.4%

The UK 100 is called to open -11 points today at 7280.

4 hours; 2 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -11 points today at 7280. The UK 100 looks set to start modestly lower today after yesterday’s jump in UK retail prices to a ten year high. This follows a tough session on Wall Street yesterday for investors, the Dow Jones lost 211 points. The S&P dipped 0.26%. The Nasdaq Composite fell by 0.33%, despite most mega-cap technology companies closing in the green. Shares in Asia were mostly lower on Thursday, China’s Shanghai Composite fell 0.35% while Hong Kong’s Hang Seng slumped 1.35%. In Japan, the Nikkei slipped 0.30% and South Korea’s Kospi fell 0.34%.

Company News & Broker Comments:

Company News:

Biffa says profit outlook for the year remains positive and in line with expectations as they report a FY pretax loss of £25.6m.

Crest Nicholson sees their FY underlying pretax profit marginally ahead of expectations.

Flutter Entertainment buys online bingo firm Tombola for £402m.

Investec will distribute a 15% stake in asset manager NinetyOne to shareholders as it reported a more than two-fold rise in HY profit.

National Grid reports that their H1 pretax profit jumped 86% to £1.08bn (2020: £583m) as they up their interim payout to 17.21p (up from 17p). They expect FY underlying EPS growth to be above 5-7% range.

Royal Mail reports that their H1 revenue rose 7.1% YoY as their pretax profit rose to £315m (2020: £17m). They have warned of operating cost pressures in H2 as they expect inflationary pressure to persist beyond 2022.

Broker Comments

UBS Upgrades Informa to Buy from Sell (6 Buys / 4 Holds / 1 Sell)

Reporting Today:

Biffa

Close Brothers

Grainger

Halma

Investec

Londonmetric Property

Micro Focus

Mitie Group

National Grid

Royal Mail Group

TBC Bank

Reporting Tomorrow:

Euromoney Institutional Investor

Great Portland Estates

Kingfisher

Personal Assets Trust

In Focus Today:

EU Consumer Price Index

US Initial Jobless Claims

Fed's Williams speech

Fed's Evans speech

Japanese Imports

Japanese Exports

Today's Ex-Dividends:

FTSE 100:

Bunzl

GlaxoSmithKline

Pershing Square Holdings

Scottish Mortgage Investment Trust

DCC

B&M European Value Retail S.A.

FTSE 250:

Genus

Volution Group

Bytes Technology Group

Witan Investment Trust

Scottish American Investment Company

Worldwide Healthcare 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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