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Morning Report - 22 March 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
ANTOFAGASTA PLC 1,758.5 8.1%
AIRTEL AFRICA PLC 152.0 6.3%
ANGLO AMERICAN PLC 3,910.0 6.1%
SHELL PLC 2,020.5 4.1%
BP PLC 375.0 4.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
OCADO GROUP PLC 1097.0 -7.7%
FLUTTER ENTERTAINMENT PLC-DI 9248.0 -3.6%
ENDEAVOUR MINING PLC 1910.0 -3.5%
INTERMEDIATE CAPITAL GROUP 1702.0 -3.5%
ENTAIN PLC 1666.0 -3.3%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,442 0.5% 10.7%
DOW JONES INDUS. AVG 34,553 -0.6% 5.9%
DAX INDEX 14,327 -0.6% -2.0%
NIKKEI 225 27,224 1.5% -8.6%
S&P/ASX 200 INDEX 7,341 0.9% 8.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 114.40 2.03%
Brent Crude (ICE) USD/bbl. 118.20 2.23%
Gold Spot USD/t oz. 1,935 -0.1%
Copper (Comex) USd/lb. 469 -0.5%
The UK 100 is called to open +16 points at 7455.   

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +16 points at 7455.   The UK 100 looks set to continue its positive start to the week this morning, having widely outperformed global markets yesterday, oil continues to make headlines, gaining another 3% overnight to trade around $119 per barrel, amid reports that the EU are mulling a more stringent embargo on Russian energy later this week.  Overnight, Wall Street had an off night, with the Dow Jones down 0.6%, Nasdaq falling 0.4% and S&P 500 just below flat.  Asian stocks were mostly higher this morning as Hong Kong-listed shares of Alibaba surged after the firm announced an upsizing of its share repurchase program from US$15 billion to US$25 billion.  Japan’s Nikkei 225 lifted 1.48% and South Korea’s Kospi gained 0.97%.  The Shanghai Composite in China dipped 0.01% while Hong Kong’s Hang Seng index jumped 1.89%.

 

Company News & Broker Comments:

 

Company News:

Crest Nicholson sees strong trading since start of the financial year as housing conditions are favourable.

 

 

Kingfisher reports FY pretax profit of £1.01bn (+33%) as they up their annual dividend payout to 12.4p per share (+50%). They report record revenue, profit and gaining market share in the UK and France. They are "comfortable" with consensus for adjusted pretax profit for the new year and state that the final £75m tranche of share buyback will be completed by May.

 

 

Softcat reports a H1 pretax profit of £64.2m as they declare an interim dividend of 7.3p. They note that operating profit for H1 was ahead of expectations. They believe that outcome for FY22 will also be ahead of expectations, as they warn of geopolitical and macroeconomic uncertainty.

 

 

Trustpilot reports a 2021 pretax loss of $26.6m, as bookings stand at $149.6m. They expect to deliver constant current revenue growth as expected in 2022. They state costs are to rise in line with revenue in 2022.

Broker Comments

Bernstein Upgrades Ryanair to Outperform from Market-perform (2 Buys / 1 Hold / 0 Sells)
JP Morgan Downgrades Diploma to Underweight from Neutral (5 Buys / 3 Holds / 0 Sells)
Panmure Upgrades Bodycote to Hold from Sell (7 Buys / 5 Holds / 1 Sell)

 

Reporting Today:

 

Diversified Energy Company

 

Softcat

 

Trustpilot

 

Kingfisher*

 

 

Reporting Tomorrow:

None

 

 

 

In Focus Today:

 

ECB's President Lagarde speech

 

This 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

 

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.


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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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