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Morning Report - 10 March 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
AVAST PLC 444.6 5.9%
SCOTTISH MORTGAGE INV TR PLC 1,117.0 5.8%
M&G PLC 214.8 4.7%
KINGFISHER PLC 286.1 4.3%
ENTAIN PLC 1,473.0 4.0%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
STANDARD LIFE ABERDEEN PLC 296.1 -7.2%
ANGLO AMERICAN PLC 2885.5 -4.4%
RIO TINTO PLC 5819.0 -3.7%
EVRAZ PLC 583.6 -2.7%
GLENCORE PLC 284.9 -2.5%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,730 0.2% 12.9%
DOW JONES INDUS. AVG 31,833 0.1% 27.2%
DAX INDEX 14,438 0.4% 35.9%
NIKKEI 225 29,037 0.0% 46.2%
S&P/ASX 200 INDEX 6,714 -0.8% 13.0%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 63.43 -0.91%
Brent Crude (ICE) USD/bbl. 66.84 -1.01%
Gold Spot USD/t oz. 1,716 0.0%
Copper (Comex) USd/lb. 400 -0.1%

 

UK 100 is called to open -35 points this morning at 6695.  

1 Day; 3 Years

Click graph to enlarge

Markets Overview:

 

UK 100 is called to open -35 points this morning at 6695.  Calls for an open in the red are due in part to inflation concerns continuing to affect investor sentiment, this is despite a pullback in Treasury yields in the US on Tuesday also overnight figures showed China’s producer prices rose at the fastest pace in more than two years last month may have contributed to the lower open.  Shares in Asia followed Wall Street higher on Wednesday following a rally for major tech companies, which recently have been severely hit, as imminent prospect of President Joe Biden’s $1.9 trillion stimulus bill being signed into law boosted the Nasdaq.  The Shanghai Composite Index rose 0.7% to trade at 3,383.09, in Japan, the Nikkei 225 in Tokyo gained less than 0.1% to 29,040.82. The Hang Seng in Hong Kong added 0.6% to close at 28,954.48.

 

 

Company News & Broker Comments:

 

 

Company News:

Balfour Beatty has reinstated its dividend (of 1.5p per share) as its pretax profit for FY 2020 came in at £48m, down from £138m in 2019. They are also set to repay £20m of state support used to furlough employees. They expect their earnings-based businesses in 2021 to be in line with 2019 levels.

 

Foxtons says they have witnessed significant profit growth in the first two months of 2021, boosted by strong sales and tight cost control, after reporting a pretax loss of £1.4m for 2020.

 

Just Eat Takeaway reports that their FY loss for 2020 widens to 151m euros (2019: 115m euro loss) as active customers increase by 23% and orders are up 42%.

 

Legal & General report that their FY 2020 pretax profit fell 15% to £1.79bn (2019: £2.11bn).

 

Restaurant Group proposes a £175m capital raise to bolster cash flow amid COVID-19 pandemic as their pretax loss for 2020 widens to £127.6m (2019: £37.3m loss).

 

Tullow Oil reports a 2020 pretax loss of $1.27bn (2019: $1.65bn loss).

 

Broker Comments:

HSBC Upgrades Aston Martin to a Buy from Hold (2 Buys / 4 Holds / 1 Sell)

 

 

Reporting Today:

 

Balfour Beatty

CLS Holdings

Cairn Enegy**

Hill & Smith Holdings

Ibstock

Informa**

Just Eat Takeaway

Legal & General Group

National Express Group

Quilter

Spirax-Sarco Engineering

TP ICAP**

John Wood Group**

 

Reporting Tomorrow:

 

Derwent London

G4S**

Helios Towers

IG Group Holdings

Just Group

Marshalls

Playtech

Rolls Royce

Savills

WPP Group

Morrisons

 

In Focus Today:

 

 

Chinese Consumer Price Index

US Consumer Price Index ex Food & Energy

Chinese Foreign Direct Investment

US Monthly Budget Statement

 

Tomorrow's Ex Dividends:

 

UK 100:

 

Persimmon

Evraz

HSBC Holdings

 

 

UK 250:

 

St. Modwen Properties

Micro Focus International

JPMorgan Emerging Markets Invest Trust

Law Debenture Corporation

Apax Global Alpha

BMO Commercial Property Trust

Alliance Trust

LondonMetric Property

Assura

 

 

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