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Morning Report - 9 December 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
Haleon PLC 316.2 3.4%
Rio Tinto PLC 5,780.0 2.9%
Fresnillo PLC 885.4 2.2%
Pershing Square Holdings LTD 2,885.0 1.9%
Hargreaves Lansdown PLC 850.4 1.8%
Yesterday’s UK 100 Laggards Price (p) % Chg
Frasers Group PLC 814.5 -9.0%
London Stock Exchange Group PLC 7380.0 -6.4%
Intermediate Capital Group PLC 1157.0 -4.9%
Bt Group PLC 112.6 -3.7%
Airtel Africa PLC 116.8 -3.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,472 -0.2% 2.1%
DOW JONES INDUS. AVG 33,781 0.6% -5.5%
DAX INDEX 14,265 0.0% -8.8%
NIKKEI 225 27,901 1.2% -2.9%
S&P/ASX 200 INDEX 7,213 0.5% -2.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.95 0.69%
Brent Crude (ICE) USD/bbl. 76.66 0.67%
Gold Spot USD/t oz. 1,794 0.3%
Copper (Comex) USd/lb. 392 1.0%
The UK 100 is called to open +26 points this morning at 7498. 

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +26 points this morning at 7498.  The UK 100 looks set to challenge breaking through 7500 again this morning following gains on Wall Street yesterday, the S&P broke its five-day losing streak and other US markets moved higher as an increase in weekly jobless claims numbers was taken as a sign that the pace of interest rate hikes could soon slow.  At the close the Dow Jones was up 184 points, or 0.55%, to 33,781, the S&P jumped 30 points, or 0.75%, to 3,964 and the Nasdaq rose 123 points, or 1.1%, to 11,082.

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Company News & Broker Comments:

Company News:

Anglo American says their production is down 3% sue to lower production from Kumba and PGMs. Their capex of $5.7bn was lower due to supply chain disruption which they’ve blamed on geopolitically-led economic volatility.

 

 

Associated British Foods reiterated a November forecast that profit would fall in its 2022-23 financial year due to input cost inflation and dollar strength. They state that Primark trading has been “encouraging” in the year so far.

 

 

AstraZeneca notes “encouraging” results in phase I datopotamab deruxtecan trial.

 

 

Berkeley Group report a H1 pretax profit of £284.8m, down 2% from £290.7m YoY. Their robust results reflect long-term operating strength amid uncertainty. They state there is enduring appeal for high-quality London and South East homes.

 

 

Glencore has scrapped plans for a huge coal mine in Queensland, Australia due to global uncertainties.

 

 

Shell: The sale of Shell Plc and Exxon Mobil Corp oil-production joint venture in California has been pushed back to Q1 of next year for US regulatory approvals.

 

 

Broker Comments:

JP Morgan Downgrades Assura Group to Neutral from Overweight (5 Buys / 3 Holds / 0 Sells)

 

 

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

 

 

JP Morgan Upgrades Workspace to Overweight from Neutral (4 Buys / 2 Holds / 0 Sells)

Reporting Today:

None

 

Reporting Monday:

None

 

In Focus Today:

Chinese Consumer Price Index

 

Chinese Producer Price Index

 

US Producer Price Index ex Food & Energy

 

US Michigan Consumer Sentiment Index

 

Next Week's Ex-Dividends:

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

 

 

Associated British Foods

 

Burberry Group

 

Smith (DS)

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

 

 

MITIE Group

 

Cranswick

 

discoverIE Group

 

Balanced Commercial Property Trust

 

TR Property Investment Trust

 

Tritax EuroBox GBP

 

Redde Northgate

 

Baltic Classifieds Group

 

Hipgnosis Songs Fund

 

Templeton Emerging Markets IT

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