This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| INFORMA PLC | 568.6 | 5.9% |
| BURBERRY GROUP PLC | 1,716.0 | 4.4% |
| JD SPORTS FASHION PLC | 137.5 | 4.2% |
| B&M EUROPEAN VALUE RETAIL SA | 408.2 | 3.6% |
| HARBOUR ENERGY PLC | 349.7 | 3.4% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| OCADO GROUP PLC | 754.8 | -3.2% |
| HALEON PLC | 301.0 | -2.4% |
| AVEVA GROUP PLC | 2244.0 | -2.2% |
| ENDEAVOUR MINING PLC | 1618.0 | -0.7% |
| ADMIRAL GROUP PLC | 1729.0 | -0.5% |
| Major World Indices | Price | % Chg | 1 YEAR |
| UK 100 INDEX | 7,296 | 1.0% | 6.6% |
| DOW JONES INDUS. AVG | 31,827 | 2.4% | -6.3% |
| DAX INDEX | 13,308 | 2.7% | -12.1% |
| NIKKEI 225 | 26,962 | 0.7% | -1.6% |
| S&P/ASX 200 INDEX | 6,650 | -0.6% | -8.3% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 104.22 | 1.58% |
| Brent Crude (ICE) | USD/bbl. | 107.25 | 0.92% |
| Gold Spot | USD/t oz. | 1,712 | 0.0% |
| Copper (Comex) | USd/lb. | 329 | -1.6% |
Click graph to enlarge
The UK 100 is called to open +37 points this morning at 7331. The UK 100 looks set to see good early gains despite UK inflation data hitting 9.6% this morning, a 40 year high as Wall St jumped on the back of reassuring trading statements from several US household names. The S&P and Nasdaq had their best days since end June as Halliburton and Hasbro beat forecasts as did IBM though it cautioned about the impact of the strong dollar. But FAANG member Netflix was the standout performer with the shares up 8% after hours. The Dow Jones jumped 754.44 points, or 2.43%, to 31,827.05, closing near the highs of the session as gains accelerated in the final hour of trading. The S&P gained 2.76% to 3,936.69. The Nasdaq Composite rose 3.11% to 11,713.15. All three major averages are above their 50-day moving averages for the first time since April. The broader market index has gained almost 7.4% off its June 16 closing low.
Antofagasta revises their FY copper guidance downwards to between 640,000-660,000 tonnes as a drought at their Los Pelambres mine means lower production and higher costs.
Centamin reports Q2 gold production of 110,788 ounces +11% YoY, up 19% on Q1. Revenue for Q2 came in at $207.2m as they affirm gold production and cost guidance for 2022. They expect 430,000-460,000 ounces output in 2022 at $900-1,000 oz cash cost.
Hochschild are on track to meet FY guidance of 360,000-375,000oz in gold equivalent.
Premier Foods report that their Q1 FY22 total sales +6% to £197m as they are on track to deliver FY22/23 expectations. Their Q1 grocery sales +6.3%, whilst sweet treats sales +5.1% YoY.
Royal Mail report that Q1 revenue fell 11.5% in its UK business, hurt by a decline in its letters business and inflation-hit consumers cutting back on online shopping. They state that their adjusted operating profit in its UK business will be around break-even for the FY, excluding the impact of industrial action, as 115,000 postal workers have voted to strike over pay.
Citigroup Downgrades Quilter to Neutral from Buy (5 Buys / 5 Holds / 0 Sells)
RPT/HSBC Downgrade Direct Line to Reduce from Hold (4 Buys / 8 Holds / 0 Sells)
Societe Generale Upgrades Fevertree Drinks to Hold from Sell (6 Buys / 11 Holds / 0 Sells)
Alliance Trust
Centamin
Premier Foods
Royal Mail
AJ Bell
Brewin Dolphin Holdings
Britvic
Close Brothers Group
Diploma
Euromoney Institutional
Frasers Group
Howden Joinery Group
IG Group Holdings
Intermediate Capital Group
Ocado Group
Polar Capital Teschnology Trust*
QinetiQ Group
SSE
Workspace Group
PBoC Interest Rate Decision
UK Consumer Price Index
UK Retail Price Index
German Producer Price Index
German 10-y Bond Auction
EU Consumer Confidence
Japanese Merchandise Trade Balance
FTSE 100:
None
FTSE 250:
Investec
Pennon Group
Micro Focus International
Bellevue Healthcare Trust
Cranswick
For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.
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.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.