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Morning Report - 18 March 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
ENTAIN PLC 1,650.0 4.4%
FRESNILLO PLC 730.8 4.2%
SMURFIT KAPPA GROUP PLC 3,538.0 3.9%
HALMA PLC 2,500.0 3.4%
RIO TINTO PLC 5,595.0 3.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
OCADO GROUP PLC 1105.0 -8.2%
POLYMETAL INTERNATIONAL PLC 140.1 -5.2%
ROYAL MAIL PLC 363.6 -2.2%
INTL CONSOLIDATED AIRLINE-DI 142.2 -2.1%
BARCLAYS PLC 171.7 -2.0%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,385 1.3% 9.2%
DOW JONES INDUS. AVG 34,481 1.2% 4.4%
DAX INDEX 14,388 -0.4% -1.4%
NIKKEI 225 26,653 3.5% -11.8%
S&P/ASX 200 INDEX 7,251 1.1% 7.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 103.40 0.41%
Brent Crude (ICE) USD/bbl. 106.64 8.79%
Gold Spot USD/t oz. 1,942 0.0%
Copper (Comex) USd/lb. 470 -0.1%
The UK 100 is called to open +6 points today at 7391. 

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +6 points today at 7391.  The UK 100 looks set to move cautiously higher this morning after another positive day yesterday following the BoE rate hike.  On Wall Street Yesterday The Dow Jones jumped 418 points to end at 34,481 and the S&P 500 advanced 54 points to 4,412 yesterday as US investors continued to react to the Federal Reserve’s decision to hike interest rates.  In Asia this morning, it has been a mixed session, Japan’s Nikkei rose 182 points, trading at 26,835 after the Bank of Japan left its reference interest rate unchanged but Hong Kong’s Hang Seng index is 100 points lower at 21,401.

 

Company News & Broker Comments:

 

Company News:

Anglo American signs memorandum of understanding with EDF Renewables for renewable energy in South Africa.

 

Essentra swings to a FY pretax profit of £33.2m (2020: £4.1m loss) as they recommend a final dividend of 4p per share. They report a strong start to 2022 with sales and order book ahead of 2021. They state that all three global divisions are well-positioned for growth.

 

Ferrexpo: FCA approves their FY results deadline shift to June 30th due to conflict in Ukraine.

 

Investec have raised their FY profit guidance saying it now expected an up to 90% increase in earnings. EPS are now expected to be between 51-55p for the year to March 31, up from a guidance of 48-53p.

 

JD Wetherspoon reports a H1 pretax loss of £21.3m as they state that rise in input prices are to be slightly less than level of inflation. They still do not recommend an interim dividend.

 

Ted Baker: Sycamore Partners are in the early stages of making a possible cash offer for Ted Baker, the private equity company have confirmed.

 

 

Broker Comments

Berenberg Upgrades Softcat to Buy from Hold (2 Buys / 5 Holds / 1 Sell)

 

Jefferies Upgrades Johnson Matthey to Hold from Underperform (4 Buys / 10 Holds / 3 Sells)

 

Reporting Today:

 

ContourGlobal

 

Essentra

 

Investec

 

Wetherspoon (JD)

 

 

Reporting Monday:

 

Endeavour Mining*

 

 

In Focus Today:

 

BoJ Interest Rate Decision

 

BoJ Monetary Policy Statement

 

BoJ Press Conference

 

EU Labour Cost

 

Next Week's Ex-Dividends:

 

FTSE 100:

Schroders

 

British American Tobacco

 

Pearson

 

Prudential

 

Ferguson

 

FTSE 250:

OSB Group

 

CLS Holdings

 

Close Brothers Group

 

Greggs

 

XP Power

 

Volution Group

 

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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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