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Morning Report - 9 September 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
ANTOFAGASTA PLC 1,143.5 3.5%
STANDARD CHARTERED PLC 596.0 3.3%
PERSHING SQUARE HOLDINGS LTD 2,845.0 3.1%
EXPERIAN PLC 2,693.0 2.8%
DECHRA PHARMACEUTICALS PLC 3,264.0 2.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
MELROSE INDUSTRIES PLC 126.1 -8.4%
ASSOCIATED BRITISH FOODS PLC 1351.0 -7.2%
B&M EUROPEAN VALUE RETAIL SA 344.5 -4.9%
TESCO PLC 238.9 -4.2%
SAINSBURY (J) PLC 198.5 -4.1%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,267 0.4% 1.9%
DOW JONES INDUS. AVG 31,762 0.6% -9.3%
DAX INDEX 12,935 0.2% -17.3%
NIKKEI 225 28,065 2.3% -7.0%
S&P/ASX 200 INDEX 6,849 1.8% -8.8%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 83.26 1.61%
Brent Crude (ICE) USD/bbl. 88.77 0.88%
Gold Spot USD/t oz. 1,709 -0.6%
Copper (Comex) USd/lb. 351 2.3%
The UK 100 is called to open +21 points this morning at 7282.

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +21 points this morning at 7282.  The UK 100 is expected to open higher on Friday following gains in the US on Thursday and better than expected inflation figures in China pushed Asian markets higher overnight as well. However, the mood and activity will remain sombre as the nation mourns the death of Queen Elizabeth II.  The Dow Jones closed 193 points higher, or 0.61%, at 31,774, the S&P gained 26 points, or 0.66%, to 4,006 and the Nasdaq rose by 70 points, or 0.6%, to end the day at 11,862.

 

 

Company News & Broker Comments:

 

Company News:

 

ASOS today issued an update on trading for the 12 months ended 31 August 2022.  Full-year sales, adjusted PBT and net debt are anticipated to be in the range of market expectations. However, after having seen good growth in June and July, sales in August were weaker than anticipated. This reflected the impact of accelerating inflationary pressures on consumers and a slow start to Autumn/Winter shopping.  Profit is anticipated to be around the bottom end of company guidance, with constant currency sales growth of c.2% and net debt c. £150m.

 

 

Computercenter this morning delivered results, they said they had seen strong trading performance over the six months to 30 June 2022 which they believe continues to demonstrate the resilience of our business model. Revenue increased 16.0% however, as indicated in previous trading Update, profit before tax for the first half of the year was behind 2021 figures.

Broker Comments:

 No New Broker Comments

Reporting Today:

Computercenter

 

Reporting Friday:

Abcam

Greencoat

 

SigmaRoc

 

Associated British Foods

 

In Focus Today:

Eurogroup Meeting

 

Chinese Consumer Price Index

 

Chinese Producer Price Index

 

EcoFin Meeting

 

Next Week's Ex-Dividends:

UK 100 companies going  ex-dividend on 15th September 2022:

 

Unite Group

 

Intertek Group

 

Melrose Industries

 

 

UK 250 companies going  ex-dividend on 15th September 2022:

 

TBC Bank Group

 

Balanced Commercial Property Trust

 

International Public Partnerships

 

Energean

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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