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| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| POLYMETAL INTERNATIONAL PLC | 147.9 | 13.9% |
| SCOTTISH MORTGAGE INV TR PLC | 961.2 | 9.4% |
| INTERMEDIATE CAPITAL GROUP | 1,707.5 | 7.1% |
| MONDI PLC | 1,527.0 | 7.0% |
| ST JAMES’S PLACE PLC | 1,421.0 | 6.8% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| AVAST PLC | 559.8 | -13.3% |
| BAE SYSTEMS PLC | 706.0 | -3.6% |
| NATIONAL GRID PLC | 1119.0 | -3.2% |
| UNITED UTILITIES GROUP PLC | 1055.5 | -2.6% |
| SEVERN TRENT PLC | 2862.0 | -1.9% |
| Major World Indices | Price | % Chg | 1 YEAR |
| UK 100 INDEX | 7,292 | 1.6% | 7.2% |
| DOW JONES INDUS. AVG | 34,063 | 1.6% | 3.8% |
| DAX INDEX | 14,441 | 3.8% | -0.8% |
| NIKKEI 225 | 25,762 | 1.6% | -13.9% |
| S&P/ASX 200 INDEX | 7,175 | 1.1% | 5.6% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 95.22 | 0.19% |
| Brent Crude (ICE) | USD/bbl. | 98.02 | -1.89% |
| Gold Spot | USD/t oz. | 1,926 | -0.1% |
| Copper (Comex) | USd/lb. | 462 | 0.5% |
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The UK 100 is called to open +10 points today at 7301. The UK’s bluechip index looks set to open slightly higher this morning, even though the Federal Reserve raised US interest rates for the first time since 2018 and signalled as many as 7 rate rises this year. Yesterday saw the Footsie rise 116 points as China-focused stocks rallied and on talk that had been some progress in peace talks between Russia and Ukraine but these hopes seemed to have faded with more heavy shelling of the capital Kyiv. UK attention will be focused on the Bank of England with a 0.25 basis points rate (0.25%) rise expected later today and that will take the rate overall to 0.75% or the level before the pandemic started. Shares in Asia continued to rise this morning, bouncing from recent drops, Japan’s Nikkei 225 surged 3.46% while South Korea’s Kospi lifted 1.47%. The Shanghai Composite in China gained 1.63% and Hong Kong’s Hang Seng index jumped 5.26%.
Cineworld reports a 2021 pretax loss of $708.3m (2020: $3.01bn loss) as their dividend remains suspended to conserve cash. They state that January and February were hit by Omicron, but they expect strong trading from March.
Deliveroo reports a 2021 pretax loss of £298.2m (2020: £212.6m loss) as orders increased by 73% to 300.6m. They expect to reach adjusted EBITDA breakeven at some point in H2 2023 or H1 2024. Their 2022 adjusted EBITDA guidance of negative 1.5-1.8% reflects inflationary pressures and uncertainty in Europe.
Go-Ahead receives a £23.5m penalty notice from UK Department of Transport over LSER, which is lower than the £30m provision made in their FY21 results.
National Express believes combination with Stagecoach provides a compelling strategic opportunity.
Ocado reported a 5.7% YoY fall in revenue in its latest quarter, which it said partly reflected a softening of the overall market. They said smaller basket sizes offset an increase in the number of customer transactions in its Q1.
Trainline says their FY22 total net ticket sales were £2.52bn, which was 68% of FY20 levels. Their FY22 adjusted EBITDA is expected to be at the top end of £30-40m range.
Bank of America Upgrades Fevertree Drinks to Neutral from Underperform (8 Buys / 8 Holds / 2 Sells)
Bernstein Upgrades Whitbread to Market-perform from Underperform (11 Buys / 4 Holds / 0 Sells)
JP Morgan Upgrades Diageo to Overweight from Neutral (9 Buys / 7 Holds / 0 Sells)
Cineworld
FDM Group Holdings
Harbour Energy
Helios Towers
Marshalls
Ocado Group
ContourGlobal
Essentra
Investec
Wetherspoon (JD)
BoE Interest Rate Decision
BoE Monetary Policy Summary
US Housing Starts
US Initial Jobless Claims
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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