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Morning Report - 13 October 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
RENTOKIL INITIAL PLC 486.0 2.6%
BRITISH AMERICAN TOBACCO 3,320.0 1.3%
ASTRAZENECA PLC 9,935.0 1.1%
DIAGEO PLC 36,975.0 1.0%
PERSHING SQUARE HOLDINGS 2,650.0 0.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
JD SPORTS FASHION PLC 89.2 -10.3%
PERSIMMON PLC 11385.0 -6.2%
LLOYDS BANKING GROUP PLC 39.1 -5.8%
HARBOUR ENERGY PLC 400.9 -5.3%
B&M EUROPEAN VALUE RETAIL 296.9 -5.2%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,826 -0.9% -4.3%
DOW JONES INDUS. AVG 29,301 0.2% -14.8%
DAX INDEX 12,172 -0.4% -19.6%
NIKKEI 225 26,397 0.0% -6.5%
S&P/ASX 200 INDEX 6,648 0.0% -8.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 87.25 -2.35%
Brent Crude (ICE) USD/bbl. 92.56 -1.83%
Gold Spot USD/t oz. 1674 0.5%
Copper (Comex) USd/lb. 343 -0.9%
The UK 100 is called to open -9 points this morning at 6814.

4 hours; 8 Months

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Markets Overview:

 

The UK 100 is called to open -9 points this morning at 6814. UK 100 is called lower on Thursday as traders await this afternoon's key US inflation data (CPI data at 1:30pm), which may help shape the central bank's policy moves between now and the end of the year. The Fed said in their September minutes last night that policymakers are likely to press on with rate hikes in the short-term, but the pace of hikes might slow after December. The Dow & Nasdaq closed -0.1%, the S&P -0.3%. In Asia Nikkei closed -0.5%, Shanghai 0% and Hang Seng -0.9%.

 

 

Company News & Broker Comments:

Company News:

EasyJet have forecast they will post a headline annual loss before tax of between £170-190m after cancelled flights in spring offset a strong summer season.

Entain expects their FY22 EBITDA to be in line with previous guidance of £925-975m. They state that the expected FY22 EBITDA represents 5-10% growth v FY21.

GlaxoSmithKline says their RSV vaccine for 60+ year olds shows 83% vaccine efficacy.

Hays report that client and candidate activity had slowed in some markets because of macroeconomic uncertainties, after posting a rise in Q1 net fees. Net fees grew at a slower pace of 19% in the quarter ended Sept 30th, compared with a 36% rise a year earlier.

Broker Comments:

Morgan Stanley Downgrades DS Smith to Equal Weight from Overweight (7 Buys / 3 Holds / 0 Sells)

Morgan Stanley Upgrades Mondi to Overweight from Equal Weight (6 Buys / 1 Hold / 0 Sells)

Morgan Stanley Upgrades Smurfit Kappa to Overweight from Equal Weight (4 Buys / 1 Hold / 0 Sells)

 

Reporting Today:

 

Entain

Hays

 

Reporting Friday:

 

Mondi

 

In Focus Today:

US IMF Meeting

German Harmonized Index of Consumer Prices

US Consumer Price Index

US Initial Jobless Claims

This Morning's Ex-Dividends:

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

Taylor Wimpey

WPP

Spirax-Sarco Engineering

Tesco

 

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

Howden Joinery Group

NCC Group

Close Brothers Group

JPMorgan Emerging Markets Invest Trust

Balanced Commercial Property Trust

Ruffer Investment Company

Primary Health Properties

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