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Morning Report - 12 October 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
INTL CONSOLIDATED AIRLINE-DI 103.6 1.8%
HALEON PLC 275.7 1.7%
SAINSBURY (J) PLC 175.8 1.6%
RENTOKIL INITIAL PLC 471.8 1.4%
UNILEVER PLC 3,959.0 1.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
LEGAL & GENERAL GROUP PLC 213.5 -4.6%
HARGREAVES LANSDOWN PLC 830.0 -4.6%
AVIVA PLC 383.3 -4.3%
HARBOUR ENERGY PLC 423.9 -4.3%
PRUDENTIAL PLC 882.8 -4.3%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,885 -1.1% -3.7%
DOW JONES INDUS. AVG 29,239 0.1% -15.2%
DAX INDEX 12,220 -0.4% -19.6%
NIKKEI 225 26,401 -2.6% -5.9%
S&P/ASX 200 INDEX 6,645 -0.3% -8.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 88.49 -2.90%
Brent Crude (ICE) USD/bbl. 93.56 -2.73%
Gold Spot USD/t oz. 1,666 -0.1%
Copper (Comex) USd/lb. 342 -0.2%
The UK 100 is called to open +20 points this morning at 6910.

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +20 points this morning at 6910. The UK 100 is set to open positive this morning after UK GDP showed -0.3% growth in August, worse than forecast (0.0% expected). This provides some respite after five successive days of decline, but the pound remained under pressure in early trade after the Bank of England affirmed its emergency gilt buying will end on Friday. The Dow closed +0.1%, S&P -0.7% and Nasdaq +1.1%. Overnight in Asia, Shanghai closed -0.6% and Hang Seng -1.9%.

 

Company News & Broker Comments:

Company News:

Barratt Developments says they are on track to deliver their adjusted pretax profit for FY22 but they state that outlook for the year is less certain due to mortgages pricing.
Darktrace reports that their Q1 FY23 has grown their customer base to 7,757 up 29% YoY.
PageGroup expects their 2022 operating profit to be in line with market consensus of £204m.
QinetiQ says their H2 order intake came in at £800m, up 18% from H1 FY22.

Broker Comments:

Berenberg Downgrades Restaurant Group to Hold from Buy (11 Buys / 2 Holds / 0 Sells)
Jefferies Downgrades Tullow Oil to Hold from Buy (5 Buys / 3 Holds / 0 Sells)
 
RBC Downgrades Smiths Group to Underperform from Sector Perform (3 Buys / 3 Holds / 0 Sells)

Reporting Today:

ASOS

 

Reporting Thursday:

Entain

 

Hays

 

In Focus Today:

US IMF Meeting

 

UK Gross Domestic Product

 

UK Industrial Production

 

UK Manufacturing Production

 

EU Industrial Production

 

German 10-y Bond Auction

 

UK NIESR GDP Estimate

 

US Producer Price Index ex Food & Energy

 

US FOMC Minutes

 

Tomorrow's Ex-Dividends:

UK 100 companies going  ex-dividend on 13th October 2022:

 

Taylor Wimpey

 

WPP

 

Spirax-Sarco Engineering

 

Tesco

 

UK 250 companies going  ex-dividend on 13th October 2022:

 

Howden Joinery Group

 

NCC Group

 

Close Brothers Group

 

JPMorgan Emerging Markets Invest Trust

 

Balanced Commercial Property Trust

 

Ruffer Investment Company

 

Primary Health Properties

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