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Morning Report - 10 November 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
ASSOCIATED BRITISH FOODS PLC 2,007.0 8.0%
ROLLS-ROYCE HOLDINGS PLC 146.9 3.6%
BT GROUP PLC 162.7 2.7%
OCADO GROUP PLC 1,741.5 2.4%
PEARSON PLC 612.8 2.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
DARKTRACE PLC 610.0 -6.1%
DCC PLC 6042.0 -3.9%
SMITHS GROUP PLC 1403.5 -2.7%
PERSIMMON PLC 2650.0 -2.6%
ABRDN PLC 257.5 -2.4%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,274 -0.4% 15.5%
DOW JONES INDUS. AVG 36,320 -0.3% 23.5%
DAX INDEX 16,040 0.0% 21.9%
NIKKEI 225 29,107 -0.6% 16.9%
S&P/ASX 200 INDEX 7,424 -0.1% 17.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 84.45 0.36%
Brent Crude (ICE) USD/bbl. 85.32 0.64%
Gold Spot USD/t oz. 1,826 -0.4%
Copper (Comex) USd/lb. 438 0.1%
The UK 100 is called to open +6 points today at 7281.

4 hours; 4 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +6 points today at 7281.  Calls for a marginally stronger open this morning come in-spite of inflation data coming out of the China this morning, which saw the producer price index advancing by at a faster-than-expected rate of 13.5%, which represented a 26-year high.   This saw stocks in Asia decline on Wednesday, China’s Shanghai Composite slipped 0.66% while Hong Kong’s Hang Seng index declined 0.73%.  In Japan, the Nikkei fell 0.61% and South Korea’s Kospi plunged 1.04%. Wall Street yesterday saw all three major averages dipped from record highs.  The S&P retreated nearly 0.4% to 4,685.25. The Dow Jones shed 112.24 points, or 0.3%, to close at 36,319.98. The Nasdaq Composite ticked down 0.6% to 15,886.54.

 

Company News & Broker Comments:

 

Company News:

ASOS are targeting £7bn worth of sales over the next 3 years with £1bn in revenue coming from its own brands.
Aveva Group reported higher interim profit and said growth was expected to continue into H2, benefiting from its purchase of OSIsoft and as economies recover from the pandemic. H1 adjusted operating profit rose 20.5% to £125.2m.
ITV said it expects to deliver record total advertising revenue this year, with strong demand from a reopened economy resulting in a predicted 11-13% rise in ad revenue in Q4. Strong performances from its broadcast and studios business resulted in a 28% rise in external revenue to 2.38bn for the nine months to end-September.
 
Marks & Spencer beat forecasts for H1 profit and raised its FY outlook, adding to evidence that its latest attempt at an elusive turnaround is delivering. They reported a profit before tax of £269.4m in H1, ahead of analyst forecasts of £205-264m. They raised their FY forecast to £500m from £350m previously.
Wetherspoon warns on supply chain issues and recruitment problems as LfL sales for the first 15 weeks are down 8.9% on same period in 2019.

 

Broker Comments

 Barclays Downgrades Babcock to Equal weight from Overweight (3 Buys / 4 Holds / 0 Sells)

 

 

Reporting Today:

 

 

Aveva Group

Grafton Group

ITV

Marks & Spencer Group

Vistry Group

Wetherspoon (JD)

 

 

Reporting Tomorrow:

 

 

3i Group

Assura

Auto Trader

Aviva

B&M Europeran Value Retail

Taylor Wimpey

Vesuvius

WH Smith

 

In Focus Today:

 

 

Chinese Consumer Price Index

German Harmonized Index of Consumer Prices

US Consumer Price Index ex Food & Energy

Chinese Producer Price Index

Chinese FDI - Foreign Direct Investment

German 10-y Bond Auction

US Initial Jobless Claims

US Monthly Budget Statement

 

Tomorrow's Ex-Dividends:

 

FTSE 100:

 

Royal Dutch Shell B

Royal Dutch Shell A

BP

Sainsbury (J)

 

FTSE 250:

 

ICG Enterprise Trust

Baillie Gifford Japan Trust

Greencoat UK Wind

Softcat

Fidelity Emerging Markets

Airtel Africa

BlackRock Smaller Companies Trust

UK Commercial Property Trust

Renewables Infrastructure Group

Schroder Oriental Income Fund

 

 

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