Getting latest data loading
Home / Morning Report / Morning Report – 2nd November 2022

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 2 November 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
INTL CONSOLIDATED AIRLINE-DI 121.6 5.5%
CENTRICA PLC 76.6 4.7%
NATWEST GROUP PLC 234.8 4.4%
FLUTTER ENTERTAINMENT PLC-DI 11,580.0 3.0%
COCA-COLA HBC AG-DI 1,902.5 2.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
INTERTEK GROUP PLC 3654.0 -2.8%
CRODA INTERNATIONAL PLC 6760.0 -1.5%
MONDI PLC 1462.5 -1.5%
RS GROUP PLC 958.5 -1.4%
SPIRAX-SARCO ENGINEERING PLC 10750.0 -1.4%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,186 1.3% -1.2%
DOW JONES INDUS. AVG 32,653 -0.2% -9.4%
DAX INDEX 13,339 0.6% -15.6%
NIKKEI 225 27,663 -0.1% -6.3%
S&P/ASX 200 INDEX 6,987 0.1% -4.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 89.04 0.76%
Brent Crude (ICE) USD/bbl. 95.18 0.56%
Gold Spot USD/t oz. 1,651 0.2%
Copper (Comex) USd/lb. 348 0.3%
The UK 100 is called to open +54 points this morning at 7159.  

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +20 points this morning at 7205. The UK blue-chip index looks set to make a firmer start on Wednesday with investors looking ahead to the fed’s interest rate decision  this evening, with a rise of 75bp expected.  On Wall Street yesterday, US markets fell for the second day in a row with the Dow Jones losing 80 points, or 0.24%, at 32,653, the S&P ending 16 points lower, or 0.41%, to 3,856 and the Nasdaq slipping 97 points, or 0.89%, to 10,891.  In China, markets continued to rally on the prospect of the Chinese government pivoting away from its zero-Covid policy. The Shanghai Composite was up 0.9%, while the Hang Seng index in Hong Kong also made strong gains.

 

 

Company News & Broker Comments:

Company News:

Aston Martin have warned that higher costs from supply chain and logistical disruptions would hurt margins and they have tempered their delivery volume outlook for 2022 to 6,200-6,600 units.
 
GlaxoSmithKline beat analyst expectations for its Q3 sales and profit, months after executing a rehaul of the business with the spinoff of its consumer health unit Haleon. They reported an adjusted profit of 46.9 pence on sales of about £7.83bn, compared with company-compiled analyst consensus of 40.1 pence on sales of £7.32bn.
Next reaffirmed FY guidance that was cut in September as they reported a 0.4% rise in FY price sales in Q3, slightly ahead of its expectations. They still expect full price sales for the rest of its 2022-23 year to fall 2% and report a FY pretax profit of £840m, up 2.1% v 2021-22.
Ryanair's October passenger numbers came in at 15.7m, +38% from 11.4m YoY.
Smurfit Kappa expects its core profit this year to increase by 33% to 2.3bn euros, after it increased its third-quarter prices further. Their EBITDA increased 43% YoY at the end of September.
Wizz Air posted a H1 operating loss of 63.8m euros after a disruption-hit Q1 was offset by a strong summer recovery.

Broker Comments:

Bernstein Downgrades ITM Power to Market-perform from Outperform (9 Buys / 4 Holds / 2 Sells)
Goldman Sachs Downgrades British American Tobacco to Neutral from Buy (11 Buys / 2 Holds / 0 Sells)
JP Morgan Downgrades Ocado to Underweight from Neutral (7 Buys / 7 Holds / 2 Sells)
Liberum Downgrades Boohoo to Sell (5 Buys / 14 Holds / 2 Sells)

Reporting Today:

 

GSK

 

Morgan Sindall

 

Next

 

Smurfit Kappa

 

Wizz Air

 

Reporting Thursday:

BT Group

 

Helios Towers

 

Hikma Pharmaceuticals

 

Sainsbury

 

Smith & Nephew

 

Trainline

 

In Focus Today:

 

German Trade Balance s.a

 

German S&P Global/BME Manufacturing PMI

 

German 10-y Bond Auction

 

German Unemployment Rate s.a

 

US ADP Employment Change

 

Fed Interest Rate Decision

 

Fed's Monetary Policy Statement

 

FOMC Press Conference

 

Tomorrow's Ex-Dividends:

UK 100 companies going  ex-dividend on 3rd November 2022:

 

None

 

UK 250 companies going  ex-dividend on 3rd November 2022:

 

Ashmore Group

 

GCP Infrastructure Investments

 

VinaCapital Vietnam Opportunity Fund

 

Renishaw

 

Hilton Food Group

 

Edinburgh Investment Trust

 

European Opportunities 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.


Back to Top

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.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.