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Morning Report - 19 October 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
HARGREAVES LANSDOWN PLC 1,508.5 2.6%
FRESNILLO PLC 863.0 2.1%
EVRAZ PLC 629.6 2.0%
PERSHING SQUARE HOLDINGS LTD 2,880.0 1.6%
ENTAIN PLC 2,124.0 1.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
INTL CONSOLIDATED AIRLINE-DI 175.7 -3.9%
INFORMA PLC 533.0 -3.0%
ANGLO AMERICAN PLC 2826.0 -3.0%
ANTOFAGASTA PLC 1470.0 -2.5%
WHITBREAD PLC 3287.0 -2.4%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,204 -0.4% 21.7%
DOW JONES INDUS. AVG 35,259 -0.1% 23.3%
DAX INDEX 15,474 -0.7% 19.9%
NIKKEI 225 29,025 -0.2% 22.6%
S&P/ASX 200 INDEX 7,381 0.3% 18.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 82.44 0.19%
Brent Crude (ICE) USD/bbl. 84.15 -0.84%
Gold Spot USD/t oz. 1,765 0.0%
Copper (Comex) USd/lb. 473 -0.1%

 

The UK 100 is called to open +15 points today at 7218.

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +15 points today at 7218.  The UK blue chip index looks set to bounce this morning having pulled back slightly yesterday from Fridays 18 month highs, Overnight, Wall Street had a mixed time, with the Dow Jones dipping 0.1% but the S&P and Nasdaq gaining 0.3% and 0.8% respectively as most of the big tech stocks climbed.  This morning saw stocks in Asia mostly higher, China’s Shanghai Composite gained 0.68% while Hong Kong’s Hang Seng index surged 1.22%.  In Japan, the Nikkei 225 rose 0.55%.

 

 

Company News & Broker Comments:

 

Company News:

Bellway reports that their pretax profit increased sharply to £479m (2020: £236.7m) as they propose a total dividend of 117.5p per share in FY21, up from 50p previously. They have a forward order book totalling £1.97bn as the order book supports 10% target growth in completions to 11,100 in FY22. They expect an average selling price of £295,000 in FY22 v £306,479 in FY21.
BHP Group posted a near 5% drop in Q1 iron ore output due to maintenance work at its Jimblebar mine and a shortage of rail labour caused by COVID-19 border restrictions.
 
Meggitt says their takeover by Parker-Hannifin is to be investigated by UK CMA.
Morrisons shareholders are expected today to approve a £7bn offer by US private equity firm CD&R.
888 Holdings reports that their Q3 revenue has risen 7% YoY to $229.9m and their year to Sept 30 revenue increased 28% to $758.3m. Their Q3 performance was in line with expectations. They expect FY22 EBITDA to take a $10m hit due to Netherlands ops closure.

 

Broker Comments

Berenberg Downgrades IAG to Hold from Buy (10 Buys / 5 Holds / 0 Sells)
Berenberg Upgrades EasyJet to Buy from Hold (9 Buys / 5 Holds / 1 Sell)
Berenberg Upgrades Pearson to Hold from Sell (3 Buys / 4 Holds / 2 Sells)
Credit Suisse Upgrades Pearson to Neutral from Underperform (3 Buys / 4 Holds / 2 Sells)

 

Reporting Today:

 

888 Holdings

Bellway

Moneysupermarket.com Group

 

Reporting Tomorrow:

 

Petropavlovsk

Segro

 

In Focus Today:

 

US Building Permits

US Housing Starts

 

This Week's Ex-Dividends:

 

FTSE 100:

 

Smiths Group

BAE Systems

 

FTSE 250:

 

PZ Cussons

Coats Group

Marshalls

European Opportunities Trust

 

 

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