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Morning Report - 21 July 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
SCOTTISH MORTGAGE INV TR PLC 838.2 4.8%
ASHTEAD GROUP PLC 4,074.0 3.4%
AVEVA GROUP PLC 2,312.0 3.0%
OCADO GROUP PLC 774.8 2.7%
ENTAIN PLC 1,154.0 2.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
DS SMITH PLC 283.6 -3.8%
ASTRAZENECA PLC 10918.0 -2.8%
ROLLS-ROYCE HOLDINGS PLC 92.0 -1.9%
RECKITT BENCKISER GROUP PLC 6302.0 -1.9%
BRITISH AMERICAN TOBACCO PLC 3463.5 -1.8%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,264 -0.4% 5.6%
DOW JONES INDUS. AVG 31,875 0.2% -7.6%
DAX INDEX 13,282 -0.2% -12.7%
NIKKEI 225 27,680 2.7% 0.5%
S&P/ASX 200 INDEX 6,759 1.7% -7.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 99.88 -0.85%
Brent Crude (ICE) USD/bbl. 106.66 -0.64%
Gold Spot USD/t oz. 1,697 0.0%
Copper (Comex) USd/lb. 333 1.0%
The UK 100 is called to open +5 points this morning at 7269.

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +5 points this morning at 7269.  The UK 100 looks set to open modestly higher today, having had a topsy turvy session yesterday having given up early gains as concerns over Russian gas supplies rocked European stocks and todays reports have confirmed that the Nord Stream 1 pipeline started flowing to Europe after a 10-day shutdown.  The flow of natural gas is expected to be well below full capacity as operator Nord Stream AG said that it would take a while to ramp up, according to German news agency DPA.  Overnight, US stocks gained ground, with the tech-powered Nasdaq finishing 1.58% higher, the S&P 500 closing up 0.59% and the Dow Jones rising 0.15%.


 

Company News & Broker Comments:

 

Company News:

 

Anglo American update that their H1 FY22 diamond output +10% YoY, copper -17%, PGM -4%, iron ore -14% and coal -22%.

 

 

Dechra Pharmaceuticals are to raise £180m to acquire Piedmont Animal Health.

 

 

EasyJet have confirmed an order of 56 Airbus ASS20neo airliners and said the deal including upsizing 18 A320neo aircraft to the A321neo model.

 

 

Howden Joinery remains "on track" with FY outlook.

 

 

JD Sports are in talks to sell Footasylum to Aurelius Group.

 

 

Marks & Spencer announce that their CFO Eoin Tonge is to leave the company for a new finance director role at Associated British Foods.

 

 

Mitchells & Butlers have flagged a challenging trading environment due to surging costs in the aftermath of the Ukraine conflict and low consumer spending amid a worsening cost-of-living crisis.

 

 

Ocado reports a H1 pretax loss widening to £211.3m from 27.9m loss a year ago. Their revenue falls 4.4% and they have declared no interim dividend. They expect low single digit growth in retail for FY22 due to cost of living crisis.

 

 

SSE update that their Q1 performance has slightly exceeded its expectations and have reiterated their forecast for the FY, helped by strong output by thermal power plants amid surging energy prices.

Broker Comments:

No new broker comments

 

Reporting Today:

 

AJ Bell

 

Brewin Dolphin Holdings

 

Britvic

 

Close Brothers Group

 

Diploma

 

Euromoney Institutional

 

Frasers Group

 

Howden Joinery Group

 

IG Group Holdings

 

Intermediate Capital Group

 

Ocado Group

 

Polar Capital Teschnology Trust*

 

QinetiQ Group

 

SSE

 

Workspace Group

 

 

Reporting Friday:

 

Alliance Trust*

 

Beazley

 

Moneysupermarket.com

 

Vodafone Group

 

 

In Focus Today:

BoJ Interest Rate Decision

 

BoJ Monetary Policy Statement

 

BoJ Press Conference

 

ECB Interest Rate Decision

 

US Initial Jobless Claims

 

ECB Press Conference

 

UK GfK Consumer Confidence

 

 

Today's Ex-Dividends:

 

FTSE 100:

None

 

FTSE 250:

Investec

 

Pennon Group

 

Micro Focus International

 

Bellevue Healthcare Trust

 

Cranswick

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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