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Morning Report - 17 February 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
POLYMETAL INTERNATIONAL PLC 1,186.5 5.1%
FRESNILLO PLC 666.4 3.7%
SHELL PLC 2,023.5 2.0%
SSE PLC 1,584.0 1.9%
ANGLO AMERICAN PLC 3,582.0 1.9%
Yesterday’s UK 100 Laggards Price (p) % Chg
ROYAL MAIL PLC 426.2 -2.7%
DIAGEO PLC 3605.0 -2.1%
COMPASS GROUP PLC 1779.0 -2.0%
ELECTROCOMPONENTS PLC 1020.0 -1.8%
JD SPORTS FASHION PLC 166.0 -1.7%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,604 -0.1% 13.3%
DOW JONES INDUS. AVG 34,934 -0.2% 10.5%
DAX INDEX 15,370 -0.3% 10.5%
NIKKEI 225 27,233 -0.8% -10.1%
S&P/ASX 200 INDEX 7,296 0.2% 6.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 92.69 -1.04%
Brent Crude (ICE) USD/bbl. 93.78 -1.09%
Gold Spot USD/t oz. 1,874 0.2%
Copper (Comex) USd/lb. 453 -0.3%
The UK 100 is called to open -20 points today at 7582. 

1 Day; 12 Months

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -20 points today at 7582. A weaker open is expected this morning for the UK 100 after a mixed session for US stocks overnight and as attention turns to the UK banking sector in today's results.  On Wall Street, the Dow Jones and Nasdaq declined 0.16% and 0.11% respectively, while the S&P 500 index edged up 0.09% and the small-cap Russell 2000 finished up 0.14%.  Stock markets reacted positively to minutes from the latest meeting of the Federal Reserve's policy committee, which suggested there would be four interest rate hikes this year, rather than the six or seven that some were predicting.

 

 

Company News & Broker Comments:

 

Company News:

 

 

Aveva Group reports that Q3 revenue has fallen by low single-digit rate YoY as they expect FY revenue to be in line with expectations.

 

 

Mondi are to sell their personal care components business to Nitto Denko for 615m euros.

 

 

Moneysupermarket.com report that their FY adjusted EBITDA fell 7%.

 

 

Ocado and Groupe Casino are to establish a French Joint Venture to provide logistics to retailers.

 

 

Reckitt Benckiser says it targets Like-for-Like net revenue growth of between 1-4% for 2022.

 

 

Rolls-Royce has signed a research partnership with Embraer and Wideroe aimed at creating a conceptual zero-emission regional aircraft.

 

 

Standard Chartered reported a doubling in FY pretax profit, although below analysts' forecasts, as they have benefited from a recovery in pandemic hit markets. Statutory pretax profit surged to $3.3bn in 2021 (202: $1.6bn) however this was below the $3.8bn average analysts' estimate. They also announced a $750m share buyback and credit impairment charges of $263m.

Broker Comments

 

JP Morgan reinitiates IHG with Overweight (7 Buys / 11 Holds / 0 Sells)

 

 

JP Morgan reinitiates Whitbread with Overweight (11 Buys / 4 Holds / 0 Sells)

 

 

Morgan Stanley Downgrades National Grid to Equal Weight from Overweight (8 Buys / 4 Holds / 0 Sells)

 

 

Morgan Stanley Downgrades Severn Trent to Equal Weight from Overweight (1 Buy / 9 Holds / 0 Sells)

 

 

Morgan Stanley Upgrades Pennon Group to Overweight from Equal Weight (1 Buy / 9 Holds / 0 Sells)

 

 

RBC Upgrades FirstGroup to Outperform from Sector Perform (4 Buys / 5 Holds / 0 Sells)

 

 

 

Reporting Today:

 

Aveva Group

 

 

Reckitt Benckiser

 

 

Safestore Holdings

 

 

Standard Chartered

 

 

 

 

Reporting Friday:

 

Hochschild Mining*

 

Moneysupermarket.com Group*

 

NatWest Group

 

Segro

 

TBC Bank

 

 

 

 

In Focus Today:

 

Economic Bulletin

 

US Housing Starts

 

US Initial Jobless Claims

 

Philadelphia Fed Manufacturing Survey

 

 

 

Today's Ex-Dividends:

 

FTSE 100:

Imperial Brands

 

BP

 

Shell

 

Pershing Square Holdings

FTSE 250:

Beazley

 

Hipgnosis Songs Fund

 

BlackRock Throgmorton Trust

 

Murray Income Trust

 

NCC Group

 

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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