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Morning Report - 16 March 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
PEARSON PLC 826.8 8.7%
ASHTEAD GROUP PLC 5,276.0 4.0%
INFORMA PLC 568.8 3.4%
NATIONAL GRID PLC 1,155.4 2.9%
RELX PLC 2,189.0 2.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
POLYMETAL INTERNATIONAL PLC 129.8 -22.9%
FERGUSON PLC 10950.0 -6.2%
GLENCORE PLC 460.3 -4.4%
PRUDENTIAL PLC 1000.0 -4.2%
STANDARD CHARTERED PLC 471.5 -4.0%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,176 -0.3% 6.3%
DOW JONES INDUS. AVG 33,544 1.8% 1.8%
DAX INDEX 13,917 -0.1% -3.8%
NIKKEI 225 25,346 0.2% -15.3%
S&P/ASX 200 INDEX 7,097 -0.7% 4.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 96.44 -6.38%
Brent Crude (ICE) USD/bbl. 98.50 -7.86%
Gold Spot USD/t oz. 1,919 0.0%
Copper (Comex) USd/lb. 451 -0.2%
The UK 100 is called to open +105 points today at 7285. 

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +105 points today at 7285.  The UK's bluechip index is called to open more than 1% higher after Wall Street rallied yesterday on hopes inflationary pressures have peaked.  The Dow Jones last night finished with a 599 points or 1.82% gain at 33,544 whilst the S&P 500 rallied more than 2% to close at 4,262. The Nasdaq went higher still, climbing 2.92% to 12,948.  The small-cap centric Russell 2000 index meanwhile added 1.4% to 1,968.  Asian markets this morning rallied, Hong Kong’s Hang Seng index surged 9% in Wednesday afternoon trade after tumbling nearly 6% on Tuesday to close at its lowest since February 2016.The Shanghai Composite in China jumped 3.36% and Japan’s Nikkei 225 lifted 1.64%. South Korea’s Kospi gained 1.44%. In focus today will be the Federal Reserve interest rate decision, as markets look to price the prospect of how aggressively the Fed might tighten monetary policy over the next few months.

 

Company News & Broker Comments:

 

Company News:

Centamin FY21 pretax profit came in at $153.6m down 51% YoY, as revenue fell 12% to $733.3m. They guide higher production volumes for 2022 of 430,000-460,000 ounces. Their final dividend came in at USD0.05, bringing the FY21 total to USD0.09.
Fevertree reports a FY pretax profit of £55.6m and recommends a special dividend of 42.9p. They expect to deliver EBITDA in FY22 of between £63-66m.
Hammerson completes Silverburn disposal for £140m.
 
ITM Power are experiencing supply chain constraints.
Restaurant Group report a FY pretax loss of £32.9m as they have seen strong like-for-like sales outperformance since reopening in May. They state that recent Wagamama and Pub openings are delivering good returns.

Broker Comments

Jefferies Upgrades On the Beach to Hold from Underperform (3 Buys / 6 Holds / 1 Sell)
Societe Generale Downgrades Reckitt Benckiser to Sell from Buy (9 Buys / 4 Holds / 1 Sell)

 

Reporting Today:

 

4imprint Group

 

 

CLS Holdings

 

 

Centamin

 

 

Computacenter

 

 

Reporting Tomorrow:

 

Cineworld

 

 

FDM Group Holdings

 

 

Harbour Energy

 

 

Helios Towers

 

 

Marshalls

 

 

Ocado Group

 

 

In Focus Today:

 

Japanese Industrial Production

 

 

EcoFin Meeting

 

 

German 10-y Bond Auction

 

 

US Retail Sales

 

 

Fed Interest Rate Decision

 

 

Fed's Monetary Policy Statement

 

 

FOMC Press Conference

 

Tomorrow's Ex-Dividends:

 

FTSE 100:

M&G

 

NatWest Group

 

Anglo American

 

Hikma Pharmaceuticals

 

SEGRO

 

FTSE 250:

BlackRock World Mining Trust

 

Crest Nicholson Holdings

 

BB Healthcare Trust

 

Spirent Communications

 

Dunelm Group

 

HgCapital Trust

 

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