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Morning Report - 14 December 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
Intermediate Capital Group PLC 1,235.0 5.7%
Ocado Group PLC 700.0 4.6%
Antofagasta PLC 1,483.0 4.1%
Ashtead Group PLC 5,056.0 3.8%
Prudential PLC 1,100.0 3.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Rolls-Royce Holdings PLC 90.6 -2.4%
Imperial Brands PLC 2,020.0 -2.0%
Centrica PLC 90.5 -1.8%
British American Tobacco PLC 3,252.0 -1.7%
Pearson PLC 913.2 -1.5%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,503 0.8% 3.9%
DOW JONES INDUS. AVG 34,109 0.3% -4.0%
DAX INDEX 14,498 1.3% -6.2%
NIKKEI 225 28,156 0.7% -1.0%
S&P/ASX 200 INDEX 7,251 0.7% -1.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 75.19 -0.27%
Brent Crude (ICE) USD/bbl. 80.47 -0.26%
Gold Spot USD/t oz. 1,811 0.0%
Copper (Comex) USd/lb. 387 0.8%
The UK 100 is called to open -8 points this morning at 7494.

4 hours; 8 Months

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Markets Overview:

The UK 100 is called to open -8 points this morning at 7494. The UK 100 is expected to open slightly lower this morning as UK CPI data showed that inflation had eased more than expected and come off recent 41 year highs.  In focus today will be the key interest rate decision by the US Federal Reserve, due at 7pm this evening (GMT).  US markets ended yesterday in positive territory, but off earlier highs, as weaker than expected inflation figures suggested pricing pressures may be on the wane.  At the close the Dow Jones Industrial Average was up 104 points, or 0.3%, to 34,109, the S&P 500 rose 29 points, or 0.74%, to 4,020 and the Nasdaq Composite advanced 113 points, or 1.01%, to 11,257.

 

 

Company News & Broker Comments:

Company News:

TUI has swung to a profit in its latest financial year, showing a recovery after two years of pandemic losses. They posted EBIT of 409m euros for the 12 months to end of September, compared to a 2bn euro loss it recorded in the previous year.

 

 

Tullow Oil signs an oil production sharing contract for offshore exploration licence in Ivory Coast.

 

 

Watches of Switzerland report a H1 pretax profit of £82.7m, +28% from £64.7m YoY. They state that trading in the first six weeks of Q3 is in line with expectations.

 

 

Broker Comments:

JP Morgan Downgrades Redrow to Underweight from Neutral (9 Buys / 6 Holds / 0 Sells)

 

 

JP Morgan Downgrades Rio Tinto to Underweight from Neutral (3 Buys / 12 Holds / 2 Sells)

 

 

JP Morgan Downgrades Taylor Wimpey to Neutral from Overweight (12 Buys / 2 Holds / 1 Sell)

 

 

JP Morgan places Crest Nicholson and Taylor Wimpey on Negative Catalyst Watch

 

 

Societe Generale adds AstraZeneca and British American Tobacco to its Premium List

Reporting Today:

TUI

 

Watches of Switzerland

 

Reporting Thursday:

Currys*

 

In Focus Today:

UK Consumer Price Index

 

UK Retail Price Index

 

EU Industrial Production s.a.

 

Fed Interest Rate Decision

 

Fed's Monetary Policy Statement

 

FOMC Economic Projections

 

FOMC Press Conference

 

Japanese Merchandise Trade Balance Total

 

Tomorrow's Ex-Dividends:

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

 

 

Associated British Foods

 

Burberry Group

 

Smith (DS)

UK 250 companies going  ex-dividend on 13th 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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