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Morning Report - 15 December 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
Bt Group PLC 116.3 2.1%
Centrica PLC 92.0 1.6%
Admiral Group PLC 2,085.0 1.6%
Bae Systems PLC 834.2 1.6%
Compass Group PLC 1,925.0 1.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
Airtel Africa PLC 113.9 -3.0%
International Consolidated Airlines Group S.A. 131.3 -2.9%
Anglo American PLC 3,132.5 -2.3%
Rio Tinto PLC 5,622.0 -2.2%
Taylor Wimpey PLC 102.3 -1.9%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,496 -0.1% 4.5%
DOW JONES INDUS. AVG 33,966 -0.4% -5.5%
DAX INDEX 14,460 -0.3% -6.6%
NIKKEI 225 28,052 -0.4% -1.4%
S&P/ASX 200 INDEX 7,205 -0.6% -1.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 76.59 -0.89%
Brent Crude (ICE) USD/bbl. 82.08 -0.75%
Gold Spot USD/t oz. 1,793 -0.8%
Copper (Comex) USd/lb. 383 -1.4%
The UK 100 is called to open -30 points this morning at 7465.

4 hours; 8 Months

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Markets Overview:

The UK 100 is called to open -30 points this morning at 7465.  The UK 100 looks set to open lower on Thursday after the Federal Reserve signalled more rate rises were on the way and as investors look ahead to rate calls by the Bank of England & the ECB today.  US markets closed lower after the Federal Reserve chairman Jerome Powell signalled more data was needed before the central bank would meaningfully change its view of inflation.  At the close the Dow Jones was down 143 points, or 0.42%, to 33,966. the S&P fell 24 points, or 0.61%, to 3,995 and the Nasdaq dropped 86 points, or 0.76%, to 11,171.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca states that the US FDA has extended the prescription drug user fee act by three months for Lynparza.

 

 

Currys reports a H1 FY22 pretax loss of £548m swinging from a profit of £48m YoY.

 

 

Drax expects their 2022 adjusted EBITDA slightly above top of range of analyst expectations.

 

 

Hunting says their 2022 trading and financial results remain in line with market expectations.

 

 

Serco reported a 2022 underlying trading profit of around £235m, up £5m on previous guidance. They state that 2023 underlying trading profit to be similar to 2022 at £235m.

 

 

Broker Comments:

Goldman Sachs Upgrades Big Yellow Group to Buy from Neutral (3 Buys / 8 Holds / 0 Sells)

 

 

Goldman Sachs Upgrades Great Portland to Buy from Neutral (6 Buys / 4 Holds / 1 Sell)

 

 

Goldman Sachs Upgrades Land Securities to Neutral from Sell (5 Buys / 9 Holds / 0 Sells)

 

 

Investec Downgrades Aviva to Hold from Buy (6 Buys / 7 Holds / 0 Sells)

 

 

Investec Upgrades Phoenix Group to Buy (6 Buys / 6 Holds / 1 Sell)

 

 

JP Morgan places Clarkson and IAG on positive catalyst watch

 

 

JP Morgan Upgrades Clarkson to Overweight from Neutral (4 Buys / 1 Hold / 0 Sells)

Reporting Today:

Currys*

 

Reporting Thursday:

None

 

In Focus Today:

EU leaders summit

 

Chinese Retail Sales

 

Bank of England Minutes

 

BoE Asset Purchase Facility

 

BoE Interest Rate Decision

 

BoE MPC Vote Rate Unchanged

 

UK Monetary Policy Summary

 

ECB Monetary Policy Decision Statement

 

ECB Rate On Deposit Facility

 

US Initial Jobless Claims

 

US Retail Sales

 

ECB Press Conference

 

This morning's Ex-Dividends:

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

 

 

Associated British Foods

 

Burberry Group

 

Smith (DS)

UK 250 companies going  ex-dividend on 15th 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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