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Morning Report - 28 February 2022

Friday’s UK 100 Leaders Price (p) % Chg
EVRAZ PLC 204.7 19.5%
POLYMETAL INTERNATIONAL PLC 798.4 17.0%
PEARSON PLC 672.6 12.1%
STANDARD CHARTERED PLC 559.6 8.7%
LLOYDS BANKING GROUP PLC 49.7 6.7%

 

Friday’s UK 100 Laggards Price (p) % Chg
JD SPORTS FASHION PLC 150.3 -2.1%
FRESNILLO PLC 713.6 -0.3%
AVAST PLC 625.0 0.5%
B&M EUROPEAN VALUE RETAIL SA 581.8 0.6%
NEXT PLC 6796.0 0.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,489 3.9% 15.5%
DOW JONES INDUS. AVG 34,059 2.5% 10.1%
DAX INDEX 14,567 3.7% 5.7%
NIKKEI 225 26,527 0.2% -8.4%
S&P/ASX 200 INDEX 7,049 0.7% 5.6%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 96.66 5.54%
Brent Crude (ICE) USD/bbl. 103.05 5.23%
Gold Spot USD/t oz. 1,896 0.4%
Copper (Comex) USd/lb. 452 0.8%

 

The UK 100 is called to open -100 points today at 7397. 

1 Day; 12 Months

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -100 points today at 7397.   The UK 100 looks set to open sharply lower after Russia's Vladimir Putin put the country’s nuclear deterrent force on high alert.  The hostile nature of events over the weekend is unlikely to lend itself to constructive negotiations as delegates from Russia and Ukraine are expected to meet on the northern border with Belarus later today.  Asian markets were mixed on Monday as the U.S. and Western allies announced fresh sanctions on Russia, prompting fears that energy supplies will be affected.  Brent crude, the international oil benchmark, gained about 5% to trade at $105 per barrel.  Japan’s Nikkei gained 0.19% and South Korea’s Kospi rose 0.84%.  The Shanghai Composite in China lifted 0.13% while Hong Kong’s Hang Seng index dipped 0.87%.

 

 

Company News & Broker Comments:

 

Company News:

 
Associated British Foods has forecast H1 sales and adjusted operating profit to be "strongly ahead" of the previous year and ahead of pre-COVID 19 levels, reflecting an improved performance from its Primark fashion business. Primark sales for H1 were expected to be well over 60% ahead of last year with an operating profit margin of 11%.
BP has decided to exit its 19.75% stake in Russian oil giant Rosneft after Russia's invasion of Ukraine.
 
Bunzl reports a 2021 pretax profit of £568.7m (+2.3% YoY) and declares an annual dividend of 57p (+5.4%). They have upgraded 2022 guidance and sees moderate revenue growth at constant exchange rates.
 
Flutter Entertainment are to invest £45m to support and promote safe play across global operations.
 
GlaxoSmithKline halts RSV vaccine trials in pregnant women after previous voluntary basis.
IAG: British Airways experienced technical issues on Saturday related to a hardware issue and not because of a cyber-attack. Consequently, they had to cancel all short haul flights from Heathrow.
Mondi has temporarily shut its industrial bags plant that employs around 100 people in Ukraine due to Russia's invasion of the country.

Broker Comments

Jefferies Downgrades Ferguson to Hold from Buy (9 Buys / 9 Holds / 1 Sell)
Jefferies Downgrades Aveva Group to Underperform from Hold (8 Buys / 6 Holds / 0 Sells)
 
JP Morgan Upgrades Qinetiq to Neutral from Underweight (7 Buys / 1 Hold / 0 Sells)

 

Reporting Today:

 

Associated British Foods

 

Bunzl

 

Harbour Energy*

 

 

 

Reporting Tomorrow:

Croda International

 

Flutter Entertainment

 

Intertek Group

 

Man Group

 

Reach

 

Rotork

 

Travis Perkins

 

abrdn

 

 

 

In Focus Today:

 

Chicago Purchasing Managers' Index

 

 

 

This Week's Ex-Dividends:

 

FTSE 100:

Dechra Pharmaceuticals

 

Hargreaves Lansdown

 

Barclays

 

FTSE 250:

Diversified Energy Company

 

Safestore Holdings

 

Ashmore Group

 

Scottish American Investment Company

 

Personal Assets Trust

 

HICL Infrastructure

 

Hays

 

Genus

 

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