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Morning Report - 15 July 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
EXPERIAN PLC 2,661.0 3.5%
AVAST PLC 518.0 2.5%
ENTAIN PLC 1,103.5 1.9%
CENTRICA PLC 85.6 1.5%
SCOTTISH MORTGAGE INV TR PLC 779.0 1.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
ADMIRAL GROUP PLC 1933.5 -18.1%
FRESNILLO PLC 644.0 -5.9%
STANDARD CHARTERED PLC 544.0 -5.7%
OCADO GROUP PLC 770.0 -5.3%
ANGLO AMERICAN PLC 2547.5 -5.1%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,040 -1.6% -0.7%
DOW JONES INDUS. AVG 30,407 -1.2% -13.0%
DAX INDEX 12,520 -1.9% -20.7%
NIKKEI 225 26,643 0.6% -5.8%
S&P/ASX 200 INDEX 6,651 0.4% -9.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 94.35 -2.02%
Brent Crude (ICE) USD/bbl. 97.81 -1.77%
Gold Spot USD/t oz. 1,706 -1.7%
Copper (Comex) USd/lb. 322 -3.2%
The UK 100 is called to open +8 points this morning at 7065.  

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +8 points this morning at 7065.  Stocks are set to end the week on a brighter note on Friday in spite of disappointing economic data from China, as comments from US Fed policymakers alleyed fear of a potential full-percentage-point interest rate hike. The US ended broadly lower after a disappointing start to earnings season as the Dow closed down -0.5%, S&P -0.3% and Nasdaq closed marginally higher. In Asia Nikkei closed +0.5% higher, Shanghai -0.7% and Hang Seng -1.9%.

 

Company News & Broker Comments:

 

Company News:

Aston Martin are closing in on a deal to raise over £500m by bringing in Saudi Arabia's sovereign wealth fund as a major shareholder, launching a rights issue for investors. They have received a £1.3bn investment offer from Atlas Consortium of which the board has rejected.
Burberry report that their Q1 comparable store sales rose by 1%, limited by COVID-19 lockdowns in China, its biggest market. Outside mainland China, they reported a 16% rise in comparable store sales, with Europe up 16%.
DCC records "strong" growth in Q1 as operating profit is in line with expectations.
 
Fevertree have revised up their expected EBITDA guidance for the FY to £45m from £37.5m.
 
Metro Bank hires ClearBank CFO James Hopkinson to be their new CFO, starting in September.
Rio Tinto have warned that COVID-19 related labour shortages in Australia and rising inflation would impact its underlying earnings in H2.

Broker Comments:

Barclays Upgrades Senior to Overweight from Underweight (3 Buys / 3 Holds / 0 Sells)
 
Berenberg Upgrades Direct Line to Buy from Hold (5 Buys / 7 Holds / 0 Sells)
 
JP Morgan Downgrades Admiral Group to Underweight from Neutral (3 Buys / 6 Holds / 2 Sells)
 
JP Morgan Downgrades Direct Line to Neutral from Overweight (5 Buys / 7 Holds / 0 Sells)
 
JP Morgan Downgrades EasyJet to Underweight from Neutral (12 Buys / 3 Holds / 1 Sell)
 
RPT/HSBC Downgrades Wizz Air to Reduce from Hold (9 Buys / 9 Holds / 1 Sell)

 

Reporting Today:

 

Burberry Group plc

 

Rio Tinto

 

 

 

Reporting Monday:

 

None

 

 

In Focus Today:

 

Chinese Gross Domestic Product

 

Chinese Industrial Production

 

NBS Press Conference

 

Chinese Retail Sales

 

US Retail Sales

 

Fed Index of Common Inflation Expectations

 

Michigan Consumer Sentiment Index

 

Next Week's Ex-Dividends:

 

FTSE 100:

None

 

FTSE 250:

Investec

 

Pennon Group

 

Micro Focus International

 

Bellevue Healthcare Trust

 

Cranswick

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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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