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Morning Report - 15 December 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
OCADO GROUP PLC 1,678.0 5.5%
EVRAZ PLC 606.6 2.4%
BRITISH LAND CO PLC 514.6 2.3%
RIO TINTO PLC 4,854.0 2.2%
BHP GROUP PLC 2,168.0 2.0%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
RENTOKIL INITIAL PLC 547.6 -12.3%
BT GROUP PLC 167.4 -4.3%
DARKTRACE PLC 376.0 -4.0%
SPIRAX-SARCO ENGINEERING PLC 15445.0 -3.8%
ASHTEAD GROUP PLC 6004.0 -3.6%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,219 -0.2% 10.8%
DOW JONES INDUS. AVG 35,544 -0.3% 17.7%
DAX INDEX 15,454 -1.1% 15.7%
NIKKEI 225 28,460 0.1% 6.6%
S&P/ASX 200 INDEX 7,327 -0.7% 10.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 69.87 -1.22%
Brent Crude (ICE) USD/bbl. 72.94 -1.03%
Gold Spot USD/t oz. 1,769 -0.1%
Copper (Comex) USd/lb. 425 -0.2%

 

The UK 100 is called to open -15 points today at 7203.

4 hours; 10 Months

Click graph to enlarge

Markets Overview:

 

 

The UK 100 is called to open -15 points today at 7203.  A modestly lower open is expected this morning for the UK's bluechip index, this comes ahead of this evenings Federal Reserve meeting, which is widely expected to see the US central bank policy committee accelerate the pace of its tapering program which started last month and as UK inflation hit a 10 year high of 5.1% this morning.  US markets were led lower by the Nasdaq, which fell another 1.1%, with the S&P 500 down 0.75% and the Dow Jones dipped 0.3%.  In Asia, markets were muted overnight, China released its industrial output for November, which was up 3.8% year-on-year, more than the 3.6% expected in a Reuters poll.  The Shanghai Composite slipped 0.21% and Hong Kong’s Hang Seng index dropped 0.95%.  Japan’s Nikkei in rose 0.10% while South Korea’s Kospi gained 0.05%.

 

 

Company News & Broker Comments:

 

 

Company News:

Bunzl expects their FY21 revenue to increase by 2% YoY.
Cineworld: Canadian court rules against Cineworld in Cineplex claim over cancelled takeover agreement. Cineworld have been ordered to pay Cineplex CAD1.23bn in lost synergies and CAD5.5m in transaction costs. Cineworld says they will appeal the judgement and not damages payable during appeal.
Currys reported a rise in H1 profit but cautioned its market has been softer over recent weeks. They reported an adjusted pretax profit of £48m for H1 (2020: £40m). They state that although they may face further headwinds from the new COVID variant and associated restrictions it remained on track to meet the expectations it set out in Nov for FY profit to be around £160m.
DCC acquires Almo Corporation for $610m.
 
Hammerson has sold six non-core assets for a total of £92m amid debt reduction efforts.
888 Holdings reaches an agreement to sell its bingo businesses to Saphalata for $50m.

 

Broker Comments

Barclays Downgrades DCC to Underweight from Equal Weight (7 Buys / 1 Hold / 0 Sells)
 
Barclays Downgrades Domino's Pizza to Underweight from Eual Weight (1 Buy / 2 Holds / 4 Sells)
 
RBS Upgrades Tullow Oil to Sector Perform from Underperform (5 Buys / 6 Holds / 3 Sells)

 

 

Reporting Today:

 

 

Currys

 

 

Reporting Tomorrow:

 

 

Serco Group

 

 

In Focus Today:

 

 

Chinese Retail Sales

UK Consumer Price Index

US Retail Sales

Fed Interest Rate Decision

Fed's Monetary Policy Statement

Chinese Industrial Production

Chinese NBS Press Conference

Japanese Merchandise Trade Balance Total

 

 

Tomorrow's Ex-Dividends:

 

FTSE 100:

 

Associated British Foods

Burberry Group

United Utilities Group

 

FTSE 250:

 

Sirius Real Estate

MITIE Group

Cranswick

Britvic

discoverIE Group

TR Property Investment Trust

Tritax EuroBox GBP

 

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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


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