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Morning Report - 11 March 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
GLENCORE PLC 494.7 5.2%
ANTOFAGASTA PLC 1,565.0 4.5%
SPIRAX-SARCO ENGINEERING PLC 11,810.0 4.3%
FRESNILLO PLC 771.2 2.9%
BRITISH AMERICAN TOBACCO PLC 3,107.5 1.5%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
EVRAZ PLC 80.9 -12.6%
MELROSE INDUSTRIES PLC 113.7 -8.3%
PERSIMMON PLC 2102.0 -4.9%
DIAGEO PLC 3368.5 -4.9%
BURBERRY GROUP PLC 1573.0 -4.8%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,087 -1.4% 6.1%
DOW JONES INDUS. AVG 32,870 -1.3% 1.8%
DAX INDEX 13,439 -3.0% -6.8%
NIKKEI 225 25,690 3.9% -12.1%
S&P/ASX 200 INDEX 7,131 1.1% 6.2%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 109.70 0.92%
Brent Crude (ICE) USD/bbl. 112.76 1.46%
Gold Spot USD/t oz. 1,995 0.2%
Copper (Comex) USd/lb. 464 1.5%

 

The UK 100 is called to open +40 points today at 7140. 

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +40 points today at 7140.  A modestly higher open is expected this morning for the UK’s bluechip index, ahead of todays gross domestic product data On Wall Street, US markets were weak yesterday and Asian markets this morning have been similarly so.  The Dow Jones fell 112 points to 33,174 while the S&P fell 18 points to 4,260 after consumer price data released yesterday showed the US inflation rate hitting a 40-year high of 7.9%.  In Japan this morning, the Nikkei 225 was off 511 points at 25,179 while in Hong Kong the Hang Seng is 319 points lower at 20,571.

 

Company News & Broker Comments:

 

Company News:

Berkeley Group says they are on track to meet earnings guidance for FY22 and following 3 years. They highlighted persistent demand in an under-supplied housing market, but flagged worries around growing inflation, supply chain disruptions and cladding issues.
Mondi are assessing all options for its interests in Russia, including any form of legal separation.
Ocado: AutoStore said it intends to appeal an International Trade Commission's decision regarding an ongoing patent row with Ocado.
SIG reports that their 2021 pretax loss narrowed to £15.9m (2020: £194.6m loss). They are trading well to date in 2022 and their supply chain strife is "being managed".

Broker Comments

 

Exane BNP Upgrades Shell to Outperform from Neutral (12 Buys / 2 Holds / 0 Sells)
 
JP Morgan Upgrades Fevertree Drinks to Neutral from Underweight (8 Buys / 6 Holds / 2 Sells)

 

Reporting Today:

 

Playtech

 

Witan Investment Trust

 

Reporting Tomorrow:

 

Bodycote

 

Phoenix Group Holdings

 

In Focus Today:

 

UK Gross Domestic Product

 

German Harmonized Index of Consumer Prices

 

UK NIESR GDP Estimate

 

Michigan Consumer Sentiment Index

 

Next Week's Ex-Dividends:

 

FTSE 100:

M&G

 

NatWest Group

 

Anglo American

 

Hikma Pharmaceuticals

 

SEGRO

 

FTSE 250:

BlackRock World Mining Trust

 

Crest Nicholson Holdings

 

BB Healthcare Trust

 

Spirent Communications

 

Dunelm Group

 

HgCapital Trust

 

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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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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