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Morning Report - 21 October 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
FRESNILLO PLC 713.6 3.9%
LLOYDS BANKING GROUP PLC 42.0 3.5%
ENDEAVOUR MINING PLC 1,512.0 3.4%
OCADO GROUP PLC 493.9 3.3%
LAND SECURITIES GROUP PLC 531.8 3.1%

 

Yesterday’s FTSE 100 Laggards Price (p) % Chg
VODAFONE GROUP PLC 98.7 -2.4%
BUNZL PLC 2720.0 -2.0%
BT GROUP PLC 125.4 -1.7%
COCA-COLA HBC AG 1926.5 -1.6%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA 116.1 -1.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,944 0.3% -3.9%
DOW JONES INDUS. AVG 30,338 -0.3% -14.4%
DAX INDEX 12,767 0.2% -17.8%
NIKKEI 225 27,007 -0.9% -7.7%
S&P/ASX 200 INDEX 6,731 -1.0% -9.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 85.98 0.50%
Brent Crude (ICE) USD/bbl. 92.62 0.23%
Gold Spot USD/t oz. 1,625 -0.2%
Copper (Comex) USd/lb. 339 2.3%
The UK 100 is called to open -35 points this morning at 6908.

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -35 points this morning at 6908. The UK 100 looks set to fall this morning following yesterdays announcement that Liz Truss will step down as PM, leading to yet more political uncertainty.  This morning saw borrowing data from the UK at £3bn higher than expected, as well as a fall in retail sales numbers.  US benchmarks fell yesterday on Wall Street, at the close the Dow Jones was down 91 points at 30,333, the S&P slipped 30 points to 3,666 and the Nasdaq fell 66 points to 10,615.

 

Company News & Broker Comments:

Company News:

Deliveroo has guided that their FY revenue will be at the lower end of its range due to the squeeze on customer budgets. FY gross transaction value growth was now expected to be in the range of 4-8%, the lower end of previously announced 4-12% range which it had downgraded in July.
Essentra says strong balance sheet delivers shareholder return of £150m as FY22 adjusted operating profit remains in line with board's expectations.
Flutter Entertainment says Paul Edgecliffe-Johnson is to join as group CFO from IHG.
GSK says regulatory submission for RSV vaccine candidate has been accepted by the Japanese regulator.
IHG report that their Q3 hotel room revenue jumped from year-ago levels, owing to strong demand for leisure and business travel as well as rising room prices.
 
London Stock Exchange Group report that their Q3 total income was up 16% to £1.91bn as they make no changes to their guidance or targets.
Rightmove appoints Johan Svanstrom as CEO from March 6th, replacing Peter Brooks-Johnson.

Broker Comments:

Berenberg Upgrades Synthomer to Buy from Hold (3 Buys / 10 Holds / 0 Sells)
Citigroup Upgrades Jupiter Fund to Neutral from Sell (1 Buy / 4 Holds / 3 Sells)
HSBC Downgrades ASOS to Reduce (5 Buys / 15 Holds / 7 Sells)

Reporting Today:

Barclays

 

London Stock Exchange Group

 

Reporting Friday:

Dr Martens

 

In Focus Today:

 

UK Retail Sales

 

UK S&P Global/CIPS Services PMI

 

Next Week's Ex-Dividends:

UK 100 companies going  ex-dividend on 27th October 2022:

 

Dechra Pharmaceuticals

 

UK 250 companies going  ex-dividend on 27th October 2022:

 

Morgan Advanced Materials

 

Foresight Solar Fund

 

City of London Investment Trust

 

Balfour Beatty

 

Bankers Investment Trust

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