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Morning Report - 31 March 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
ANGLO AMERICAN PLC 3,976.0 4.6%
SHELL PLC 2,111.5 4.4%
GLENCORE PLC 500.7 4.2%
FRESNILLO PLC 744.4 4.1%
RIO TINTO PLC 6,076.0 4.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
PEARSON PLC 739.2 -5.9%
JD SPORTS FASHION PLC 152.9 -4.7%
DS SMITH PLC 326.8 -4.4%
ASHTEAD GROUP PLC 4845.0 -4.2%
ST JAMES’S PLACE PLC 1457.0 -4.0%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,579 0.6% 11.9%
DOW JONES INDUS. AVG 35,229 -0.2% 6.5%
DAX INDEX 14,606 -1.5% -2.7%
NIKKEI 225 28,027 -0.8% -4.0%
S&P/ASX 200 INDEX 7,515 0.7% 10.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 107.82 3.43%
Brent Crude (ICE) USD/bbl. 112.76 2.30%
Gold Spot USD/t oz. 1,933 0.0%
Copper (Comex) USd/lb. 475 0.4%

 

The UK 100 is called to open -25 points at 7553. 

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -25 points at 7553.  The UK’s blue-chip index looks set for a mixed start as oil prices dropped overnight on reports the US is set for the largest release from its strategic reserve since its creation in 1974.  US President Joe Biden is poised to authorise the release of up to 180 million barrels of oil, according to the reports.  In Asia, China's official manufacturing PMI fell to 49.5 in March from 50.2 a month ago, indicating an economy in decline with services also contracting.  Covid lockdowns were blamed for the dip, which should be reversed next month predicted economists.  Overnight U.S. stocks slid on Wednesday, ending a winning streak for the market, The S&P fell 0.63% to 4,602.45, and Nasdaq lost 1.21% to 14,442.27. The Dow Jones dropped 65.38 points, or 0.19%, to 35,228.81. The Dow and S&P each snapped a four-day stretch of gains.

 

Company News & Broker Comments:

 

Company News:

 

GlaxoSmithKline's Viv Healthcare wins US FDA approval for Triumeq PD tablets to treat HIV.

 

 

James Halstead reports a 2021 pretax profit of £25.4m (2020: £26m profit) as they state the decline in profit YoY is due to higher raw material and energy costs.

 

 

Provident Financial swings to a FY pretax profit of £4.1m (2020: £133.5m loss). They declare an interim dividend of 12p per share as they state improvement in profitability driven by favourable backdrop. There has been "encouraging momentum" in first two months of 2022.

 

 

Tate & Lyle are to buy prebiotic dietary fibre business Quantum for $237m.

Broker Comments:

Tate & Lyle are to buy prebiotic dietary fibre business Quantum for $237m.

 

 

Exane BNP Downgrades Vodafone to Underperform (14 Buys / 1 Hold / 0 Sells)

 

 

Jefferies Downgrades Hargreaves Lansdown to Underperform from Hold (5 Buys / 5 Holds / 3 Sells)

 

 

JP Morgan Upgrades M&G to Neutral from Underweight (4 Buys / 4 Holds / 0 Sells)

 

Reporting Today:

 

Ultra Electronics - Estimated date not confirmed

 

Reporting Tomorrow:

None

 

 

In Focus Today:

 

Chinese NBS Manufacturing PMI

 

UK Gross Domestic Product

 

German Retail Sales

 

German Unemployment Rate

 

OPEC Meeting

 

EU Unemployment Rate

 

US Initial Jobless Claims

 

Fed's Williams speech

 

Tankan Large Manufacturing Index

 

This Morning's Ex-Dividends:

 

FTSE 100:

Phoenix Group Holdings

 

Taylor Wimpey

 

Smith & Nephew

 

InterContinental Hotels Group

 

FTSE 250:

Hammerson

 

Moneysupermarket.com Group

 

Travis Perkins

 

ContourGlobal

 

ConvaTec Group

 

Fidelity European Trust

 

Mercantile Investment Trust

 

Primary Health Properties

 

Finsbury Growth & Income Trust

 

Games Workshop Group

 

RIT Capital Partners

 

Hammerson

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