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Morning Report - 11 November 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
Admiral Group 1,986.5 5.0%
Next 5,420.0 4.8%
RS Group 906.0 4.4%
Prudential 902.4 3.0%
Smith & Nephew 1,030.0 2.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Ocado Group 668.4 -5.0%
Informa 550.6 -3.7%
Harbour Energy 376.1 -3.3%
Glencore 510.4 -2.7%
Flutter Entertainment 11465.0 -2.7%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,375 1.1% -0.1%
DOW JONES INDUS. AVG 33,715 3.7% -6.1%
DAX INDEX 14,146 3.5% -12.0%
NIKKEI 225 28,264 3.0% -3.5%
S&P/ASX 200 INDEX 7,158 2.8% -3.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 88.60 2.46%
Brent Crude (ICE) USD/bbl. 95.88 2.36%
Gold Spot USD/t oz. 1,761 0.3%
Copper (Comex) USd/lb. 386 2.6%
The UK 100 is called to open +45 points this morning at 7420.

4 hours; 8 Months

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Markets Overview:

The UK 100 is called to open +45 points this morning at 7420.  The UK 100 is expected to open higher on Friday, extending Thursday's rally after a US inflation reading undershot market expectations sending US markets sharply higher. Asian markets also made strong gains.  This morning, UK GDP fell 0.2% between July and September according to the first quarterly estimate from the Office for National Statistics (ONS), better than City forecasts for a decline of 0.5%.  At the close on Wall Street, the Dow Jones was up 1,198 points, or 3.69%, to 33,712.21, the S&P surged 207.38 points, or 5.53%, to 3,955.95 and the Nasdaq roared 761 points higher, or 7.35%, to 11,114.15.

 

Company News & Broker Comments:

Company News:

AstraZeneca says Imfinzi and Imjudo have been approved in the US with chemo for non-small lung cancer.

 

 

Beazley state their gross premiums written at Sept 30th were $3.98bn (2021: $3.27bn) as they record a loss of $120m net of reinsurance for Hurricane Ian.

 

 

GlaxoSmithKline are to restrict second-line maintenance indication for Zejula at the request of the FDA.

 

 

Halma appoints Steve Gunning as their new CFO, effective from Jan 16th 2023.

 

 

Redrow says their net private reservations in the first 18 weeks of FY23 came in at £515m (2021: £639m) as they expect average outlets for FY23 to be 120, in line with guidance from September. They reiterate overall build cost inflation estimate of 7% for FY23. They expect a FY23 operating margin of around 18% vs 19% in FY22.

Broker Comments:

No new broker comments

Reporting Today:

3i Group

 

Assura

 

B&M European Value Retail

 

Beazley

 

Endeavour Mining

 

Softcat

 

WH Smith

 

Reporting Monday:

S4 Capital

 

In Focus Today:

 

UK Gross Domestic Product

 

UK Industrial Production

 

UK Manufacturing Production

 

EU EcoFin Meeting

 

German Harmonized Index of Consumer Prices

 

UK NIESR GDP Estimate

 

US Michigan Consumer Sentiment Index

 

UoM 5-year Consumer Inflation Expectation

 

Today's Ex-Dividends:

UK 100 companies going  ex-dividend on 17th November 2022:

 

Pershing Square Holdings

 

Bunzl

 

Unilever

 

GSK

 

DCC

 

AVEVA Group

 

B&M European Value Retail S.A.

 

UK 250 companies going  ex-dividend on 10th November 2022:

 

Genus

 

Fidelity Emerging Markets

 

ICG Enterprise Trust

 

Bytes Technology Group

 

Murray Income Trust

 

Scottish American Investment Company

 

UK Commercial Property REIT

 

Balanced Commercial Property Trust

 

Firstgroup

 

NextEnergy Solar Fund

 

Renewables Infrastructure Group

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