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Morning Report - 10 March 2022

Yesterday’s Uk 100 Leaders Price (p) % Chg
POLYMETAL INTERNATIONAL PLC 155.7 69.2%
EVRAZ PLC 92.5 18.7%
MELROSE INDUSTRIES PLC 124.1 13.4%
ELECTROCOMPONENTS PLC 970.0 11.8%
ST JAMES’S PLACE PLC 1,317.0 11.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
FRESNILLO PLC 749.6 -7.3%
BAE SYSTEMS PLC 722.6 -4.2%
BP PLC 371.6 -2.2%
ANGLO AMERICAN PLC 3753.5 -2.1%
SHELL PLC 2004.5 -1.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,191 3.3% 6.8%
DOW JONES INDUS. AVG 33,286 2.0% 4.6%
DAX INDEX 13,848 7.9% -4.1%
NIKKEI 225 24,718 -0.3% -14.9%
S&P/ASX 200 INDEX 7,053 1.0% 5.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 110.22 -10.90%
Brent Crude (ICE) USD/bbl. 112.72 -11.92%
Gold Spot USD/t oz. 1,992 -2.9%
Copper (Comex) USd/lb. 460 -2.4%
The UK 100 is called to open -40 points today at 7150

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -40 points today at 7150. (30 Point ex-dividend)   The UK 100 looks set to pause this morning, following Wednesday's big gains, after Ukrainian President Volodymyr Zelenskyy agreed to withdraw its membership appeal for NATO. This will lead to a higher expectation of a ceasefire between Russia and Ukraine.  It was a global affair yesterday as Wall Street saw some heady gains also, The Dow Jones rose 653.61 points to 33,286.25, helped by gains in Salesforce, Nike and JPMorgan. The S&P climbed 2.6% to 4,277.88, for its best day since June 2020. The technology-heavy Nasdaq gained 3.6% to 13,255.55, for its best day since November 2020.

 

Company News & Broker Comments:

 

Company News:

Boohoo have forecast that their 2021-22 core earnings are in line with reduced guidance as they reported an expected slowdown in revenue growth in its latest quarter. Their net sales growth in Q4 was 7%, having been up at 10% in the previous quarter. 
 
Just Group has reinstated their dividend after reporting a 9% jump in its annual profit, buoyed by growing demand for pensions schemes and retirement sales services. They posted an underlying profit of £210m for the 12 months ended Dec 31st (2020: £193m profit).
National Express swung to an annual profit and said they were considering their options for Stagecoach after a rival suitor outbid the bus and train operator. They expect the fallout from the Ukraine crisis to be limited as they have fully hedged their fuel needs for 2022.
Purplebricks says their CEO Vic Darvey resigns "due to personal circumstances" and will be replaced by Helena Marston.
Rio Tinto has become the first major mining company to announce it will be cutting all ties with Russian businesses.

Broker Comments

 

Berenberg Upgrades M&G to Buy from Hold (3 buys / 5 Holds / 0 Sells)
Liberum Downgrades Stagecoach to Hold from Buy (6 Buys / 0 Holds / 1 Sell)
RBC Upgrades Hunting to Outperform from Sector Perform (3 Buys / 2 Holds / 0 Sells)

 

Reporting Today:

 

DS Smith

 

Hill & Smith Holdings

 

IG Group Holdings

 

Just Group

 

National Express Group

 

Savills

 

Spirax-Sarco Engingeering

 

Reporting Tomorrow:

 

Playtech

 

Witan Investment Trust

 

In Focus Today:

 

ECB Deposit Rate Decision

 

ECB Monetary Policy Decision Statement

 

US Consumer Price Index

 

US Initial Jobless Claims

 

ECB Press Conference

 

Today's Ex-Dividends:

 

FTSE 100:

Evraz

 

Rio Tinto

 

Persimmon

 

HSBC Holdings

 

CRH

 

Land Securities Group

 

FTSE 250:

Micro Focus International

 

Apax Global Alpha

 

PZ Cussons

 

SDCL Energy Efficiency Income Trust

 

Assura

 

Law Debenture Corporation

 

Chemring Group

 

LondonMetric Property

 

Tritax Big Box REIT

 

Alliance Trust

 

JPMorgan Emerging Markets Invest Trust

 

Renishaw

 

BMO Commercial Property Trust

 

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