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Morning Report - 23 May 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
ROYAL MAIL PLC 315.4 5.1%
ST JAMES’S PLACE PLC 1,235.0 3.9%
3I GROUP PLC 1,221.5 3.7%
ABRDN PLC 185.5 3.7%
FLUTTER ENTERTAINMENT PLC-DI 9,188.0 3.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
SCOTTISH MORTGAGE INV TR PLC 737.0 -3.0%
SAINSBURY (J) PLC 232.7 -1.8%
IMPERIAL BRANDS PLC 1790.5 -1.6%
B&M EUROPEAN VALUE RETAIL SA 422.4 -1.5%
STANDARD CHARTERED PLC 586.6 -0.7%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,390 1.2% 5.3%
DOW JONES INDUS. AVG 31,262 0.0% -8.6%
DAX INDEX 13,982 0.7% -9.4%
NIKKEI 225 26,739 1.3% -5.6%
S&P/ASX 200 INDEX 7,146 1.2% 1.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 110.28 0.35%
Brent Crude (ICE) USD/bbl. 112.55 0.46%
Gold Spot USD/t oz. 1,847 0.3%
Copper (Comex) USd/lb. 428 -0.2%
The UK 100 is called to open +75 points this morning at 7464.

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +75 points this morning at 7464.  The UK 100 looks set to kick off the week in a positive manner, with investors largely ignoring the stuttering start to the week in Asia.   This comes after a mixed session to close out the week on Friday, The S&P finished  the day 0.01% higher to 3,901.36 after falling as much as 2.3% earlier in the session. At the day’s lows, the S&P was 20.9% below its intraday high in January. The index closed about 19% below its record.  The Dow Jones rose 8.77 points to 31,261.90 after being down more than 600 points at the day’s lows. The Nasdaq fell 0.3% and is already deep in bear market territory, 30% off its highs.

 

Company News & Broker Comments:

 

Company News:

Kingfisher announced Q1 results this morning, the company saw Sales significantly ahead of pre-pandemic performance (3-year LFL +16.2%), supported by strong market share gains. Also announcing return of a further £300m of surplus capital via a share buyback programme; first tranche to commence soon

 

Moonpig group announces the proposed acquisition of the entire issued share capital of Smartbox Group UK Limited ("Buyagift"), the UK's leading gift experiences platform, for cash consideration of £124 million

 

Ted Baker previously announced that it had received a number of non-binding proposals from potentially interested parties and was inviting a focused selection of such parties to enter into a due diligence process.  Following a review of these proposals, the Board has selected a preferred counterparty to take forward into a process of confirmatory due diligence.  This process is likely to take several weeks.

Broker Comments:

 

Reporting Today:

Big Yellow Group

 

Kainos Group

 

Kingfisher

 

Reporting Tomorrow:

 

Assura

 

Bytes Technology Group

 

Cranswick

 

Greencore

 

Hill & Smith Holdings

 

Homeserve

 

RS Group

 

SSP Group

 

Shaftesbury

 

 

In Focus Today:

 

Eurogroup Meeting

 

German IFO – Business Climate

 

German IFO – Current Assessment

 

German IFO – Expectations

 

Chicago Fed National Activity Index

 

NZ Retail Sales

 

NZ S&P Global Manufacturing PMI

 

NZ S&P Global Services PMI

 

 

This Week's Ex-Dividends:

 

FTSE 100:

Intertek Group

 

Whitbread

 

Sage Group

 

Imperial Brands

 

DCC

 

FTSE 250:

RHI Magnesita N.V.

 

Vivo Energy

 

Balfour Beatty

 

TI Fluid Systems

 

IP Group

 

BlackRock World Mining Trust

 

Victrex

 

Grainger

 

ContourGlobal

 

Diversified Energy Company

 

Diploma

 

Tritax EuroBox GBP

 

Britvic

 

HICL Infrastructure

 

Euromoney Institutional Investor

 

Great Portland Estates

 

LXi REIT

 

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