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Morning Report - 22 July 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
HOWDEN JOINERY GROUP PLC 655.6 4.2%
3I GROUP PLC 1,247.0 4.2%
SPIRAX-SARCO ENGINEERING PLC 11,330.0 4.0%
INTERMEDIATE CAPITAL GROUP 1,472.0 3.9%
HALMA PLC 2,247.0 3.2%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
DECHRA PHARMACEUTICALS PLC 3618.0 -3.0%
OCADO GROUP PLC 753.2 -2.8%
BAE SYSTEMS PLC 783.2 -2.5%
SSE PLC 1721.0 -2.4%
INTL CONSOLIDATED AIRLINE-DI 113.5 -2.2%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,271 0.1% 3.9%
DOW JONES INDUS. AVG 31,859 -0.1% -8.5%
DAX INDEX 13,247 -0.3% -14.1%
NIKKEI 225 27,803 0.4% 0.9%
S&P/ASX 200 INDEX 6,794 0.5% -8.0%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 97.01 -2.87%
Brent Crude (ICE) USD/bbl. 104.66 -2.11%
Gold Spot USD/t oz. 1,713 1.0%
Copper (Comex) USd/lb. 331 -0.5%

 

The UK 100 is called to open +5 points this morning at 7275.  

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +5 points this morning at 7275.  The UK 100 looks set to open higher after another good day on Wall Street which was largely due to the performance of the share price of Tesla, following after hour results from the previous session.  The rise in the UK 100 despite the surprise half a percent interest rate rise from the ECB yesterday, implies that UK markets are still taking more of a lead from Wall Street than Europe.  A resumption of Nord Stream 1 supplies by Russia also helped the mood.   Stateside yesterday saw The tech-heavy Nasdaq gain 1.36% to close at 12,059.61. The S&P added 0.99% to finish at 3,998.95. Meanwhile, the Dow Jones gained 162.06 points, or 0.51%, the blue-chip index ended at 32,036.90


 

Company News & Broker Comments:

 

Company News:

Beazley reports that their H1 pretax profit has fallen to $22.3m from $167.3m a year ago. Their EPS has fallen to 1.7p from 17.7p (-90%) last year as gross written premiums grow 26% to $2.55bn.

 

 

BT says the CMA has approved the 50/50 joint venture with Warner Bros Discovery to create a TV sport-focused joint venture in the coming weeks.

 

 

Homeserve reports that the last quarter's trading has been in line with expectations as businesses in North America & EMEA have continued to make good progress.

 

 

JD Sports expects FY headline pretax profit to be in line with prior record year, as the process to find a new permanent CEO is ongoing.

Broker Comments:

Berenberg Downgrades Hochschild Mining to Hold from Buy (4 Buys / 2 Holds / 0 Sells)

 

 

Bernstein Upgrades Unilever to Outperform from Market Perform (3 Buys / 11 Holds / 1 Sell)

 

 

JP Morgan Downgrades Quilter to Neutral from Overweight (5 Buys / 5 Holds / 0 Sells)

 

 

Morgan Stanley Upgrades Wise to Overweight from Equal Weight (2 Buys / 4 Holds / 1 Sell)

 

 

RBC Downgrades Fevertree Drinks to Underperform from Sector Perform (5 Buys / 13 Holds / 1 Sell)

 

Reporting Today:

 

Alliance Trust*

 

Beazley

 

Moneysupermarket.com

 

 

 

 

Reporting Monday:

 

F&C Investment Trust

 

JTC

 

 

Vodafone Group

 

 

In Focus Today:

UK Retail Sales

 

German S&P Global/BME Composite PMI

 

EU S&P Global Composite PMI

 

UK S&P Global/CIPS Services PMI

 

US S&P Global Composite PMI

 

 

Next Week's Ex-Dividends:

 

FTSE 100:

SSE

 

FTSE 250:

Royal Mail

 

NB Private Equity Partners

 

Bytes Technology Group

 

Sequoia Economic Infrastructure Inc Fnd

 

Moneysupermarket.com Group

 

QinetiQ Group

 

Bankers Investment Trust

 

BlackRock Throgmorton Trust

 

Monks Investment 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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