Getting latest data loading
Home / Morning Report / Morning Report

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 26 April 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
RECKITT BENCKISER GROUP PLC 6,316.0 2.9%
UNILEVER PLC 3,606.5 1.9%
HIKMA PHARMACEUTICALS PLC 2,039.0 1.3%
HARGREAVES LANSDOWN PLC 978.8 1.2%
DECHRA PHARMACEUTICALS PLC 3,764.0 1.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
ANGLO AMERICAN PLC 3223.5 -6.9%
BP PLC 368.9 -6.2%
GLENCORE PLC 449.4 -5.6%
AVEVA GROUP PLC 2381.0 -5.5%
ASHTEAD GROUP PLC 4394.0 -5.3%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,381 -1.9% 6.4%
DOW JONES INDUS. AVG 34,049 0.7% 0.0%
DAX INDEX 13,924 -1.5% -8.9%
NIKKEI 225 26,591 -1.9% -8.7%
S&P/ASX 200 INDEX 7,473 -1.6% 5.8%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 60.93 -0.02%
Brent Crude (ICE) USD/bbl. 66.10 0.00%
Gold Spot USD/t oz. 1,475 -0.1%
Copper (Comex) USd/lb. 281 0.0%
The UK 100 is called to open +90 points at 7470.

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +90 points at 7470.  The UK 100 looks set to bounce back this morning, having started the week on a rocky footing, the blue-chip index looks set to gain back more than half of the 150 points given up yesterday.  Wall Street started the week on the back foot yesterday, before bouncing later in the session, the Nasdaq led the recovery, finishing 1.3% higher, with the Dow Jones closed up 0.7% and the S&P higher by 0.6%.  Elon Musk’s agreed takeover of Twitter seemed to help the mood, with a $44bn bid apparently accepted by Twitters board. Shares in Asian were mixed this morning as Sri Lanka started discussions with China about refinancing its debt, a cabinet spokesman said, as the country struggles with its worst financial crisis in decades. The Shanghai Composite in China declined 0.43% while Hong Kong’s Hang Seng index surged 0.97%.  Japan's Nikkei rose 0.61% and South Korea’s Kospi gained 0.52%.

Company News & Broker Comments:

 

Company News:

Associated British Foods posts a HY profit of £635m (2021: £275m profit) and have increased their interim dividend to 13.8p per share, up from 6.2p in 2021.
HSBC reported a 27% fall in quarterly profit as the bank suffered from decreased revenues and slowing growth in Hong Kong. They posted a pretax profit of $4.2bn for Q1 ended March, versus $5.78bn a year earlier. The results were better than the $3.72bn average analyst estimates. They also expect a credit loss of $600m compared with a year-ago when they unlocked $400m of reserves as outlook improved.
IWG reports that their Q1 total revenue increased 19% YoY to £613.7m. They are recovering to pre-Covid performance, but they do note inflationary headwinds.
National Express reports that Q1 revenue is back to 2019 levels, with March ahead of 2019. As there is a renewed confidence in outlook including 2022 revenue in line with 2019. They expect at least £1.25bn free cash flow between 2022-2027.
Taylor Wimpey has forecast sustained demand in an under-supplied market, despite fears of consumers tightening their belts in the wake of soaring inflationary pressures. Their order book stood at £2.97bn as of the 17th of April, compared with £2.81bn a year ago when the sector was supported by several government measures. They have paid £245m so far for fire safety remediation works.

Broker Comments:

Barclays Downgrades Rio Tinto to Underweight from Equal Weight (5 Buys / 12 Holds / 1 Sell)
 
Jefferies Upgrades CVS Group to Buy from Hold (6 Buys / 1 Hold / 0 Sells)

 

Reporting Today:

 

Associated British Foods (ABF)

 

HSBC

 

Hochschild Mining

 

IWG

 

Jupiter Fund Management

 

National Express

 

Taylor Wimpey

 

Reporting Tomorrow:

Aveva Group

 

Drax Group

 

GlaxoSmithKline

 

Lloyds Banking Group

 

London Stock Exchange Group

 

Persimmon

 

WHSmith

 

 

In Focus Today:

US Durable Goods Orders

 

US Nondefense Capital Goods Orders ex Aircraft

 

US Housing Price Index

 

S&P/Case-Shiller Home Price Indices

 

US Nondefense Capital Goods Orders ex Aircraft

 

US New Home Sales

 

 

This Week's Ex-Dividends:

 

FTSE 100:

St. James's Place

 

Fresnillo

 

Reckitt Benckiser Group

 

RELX

 

London Stock Exchange Group

 

Rightmove

 

FTSE 250:

Tyman

 

Morgan Sindall Group

 

Morgan Advanced Materials

 

Derwent London

 

Coats Group

 

Drax Group

 

City of London Investment Trust

 

4imprint Group

 

Schroder Oriental Income Fund

 

Bankers Investment Trust

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.


Back to Top

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.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.