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Morning Report - 17 May 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
FRESNILLO PLC 756.8 4.6%
GLENCORE PLC 477.0 3.4%
PHOENIX GROUP HOLDINGS PLC 633.8 2.8%
ANTOFAGASTA PLC 1,382.5 2.5%
GLAXOSMITHKLINE PLC 1,798.4 2.5%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
AVIVA PLC 394.7 -26.5%
ROLLS-ROYCE HOLDINGS PLC 80.7 -3.8%
SCOTTISH MORTGAGE INV TR PLC 778.8 -3.4%
DS SMITH PLC 304.8 -3.1%
RS GROUP PLC 898.5 -2.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,465 0.6% 6.1%
DOW JONES INDUS. AVG 32,223 0.1% -6.1%
DAX INDEX 13,964 -0.5% -9.4%
NIKKEI 225 26,660 0.4% -4.2%
S&P/ASX 200 INDEX 7,113 0.3% 1.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 113.90 -0.26%
Brent Crude (ICE) USD/bbl. 114.18 -0.05%
Gold Spot USD/t oz. 1,829 0.3%
Copper (Comex) USd/lb. 422 0.7%

 

The UK 100 is called to open +16 points this morning at 7482. 

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +16 points this morning at 7482. The UK 100 is expected to start on the front foot for the third day in a row on Tuesday, ahead of unemployment figures and with the pound trading close to a two-year low.  It was a difficult session on Wall Street yesterday, the Dow Jones was marginally above flat, while the S&P 500 dipped 0.4% and the tech heavy Nasdaq dropped 1.2%.

 

 

 

Company News & Broker Comments:

 

Company News:

Britvic reports that their H1 pretax profit has risen to £59.3m from £39.8m YoY. They have announced an initial share buyback of £75m and they are expecting cost inflation and pressure on consumer spending into 2023.

 

 

Imperial Brands says they are on track for FY results in line with guidance. They reported an adjusted H1 pretax profit of £1.44bn (2021: £1.38bn) as they report an operating hit of £201m in Russian exit charges.

 

 

Land Securities reports a FY22 pretax profit of £875m (2021: £1.39bn loss). They have also increased their dividend by 37% to 37p.

 

 

Vodafone reported a 5% rise in FY core earnings, meeting the bottom of its guidance, helped by a good performance in its largest market, Germany. They expect to deliver a resilient financial performance in the year ahead. They do expect challenges of the current economic environment to hurt results in FY23.

Broker Comments:

RBC Upgrades Diploma to Sector Perform from Underperform (6 Buys / 2 Holds / 0 Sells)

 

 

Societe Generale Downgrades Unilever to Sell from Buy (4 Buys / 11 Holds / 1 Sell)

 

Reporting Today:

DCC

 

Fresnillo

 

Imperial Brands

 

JD Sports Fashion

 

Land Securities Group

 

Vodafone

 

 

Reporting Tomorrow:

 

British Land Co

 

Burberry

 

Experian

 

 

In Focus Today:

 

UK Claimant Count Change

 

UK ILO Unemployment Rate

 

EU Gross Domestic Product s.a.

 

US Retail Sales

 

US Retail Sales Control Group

 

 

This Week's Ex-Dividends:

 

FTSE 100:

Kingfisher

 

Tesco

 

Bunzl

 

Unilever

 

Shell

 

GlaxoSmithKline

 

Pershing Square Holdings

 

FTSE 250:

Centamin

 

PageGroup

 

FDM Group (Holdings)

 

Bellway

 

Virgin Money UK

 

Spectris

 

Hipgnosis Songs Fund

 

Murray Income Trust

 

Witan Investment Trust

 

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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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