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Morning Report - 29 November 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
Pershing Square Holdings LTD 2,955.0 1.4%
Flutter Entertainment PLC 11,945.0 1.3%
Reckitt Benckiser Group PLC 5,968.0 1.2%
Pearson PLC 990.2 1.1%
Unilever PLC 4,155.0 1.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
Admiral Group PLC 2034.0 -4.4%
Persimmon PLC 1279.0 -3.7%
Melrose Industries PLC 130.0 -3.4%
Ocado Group PLC 633.8 -2.5%
Rolls-Royce Holdings PLC 88.6 -2.5%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,474 -0.2% 5.1%
DOW JONES INDUS. AVG 33,849 -1.5% -3.7%
DAX INDEX 14,383 -1.1% -5.9%
NIKKEI 225 28,028 -0.5% -0.9%
S&P/ASX 200 INDEX 7,253 0.3% 0.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.52 1.66%
Brent Crude (ICE) USD/bbl. 84.79 1.92%
Gold Spot USD/t oz. 1,752 0.6%
Copper (Comex) USd/lb. 366 1.3%
The UK 100 is called to open +25 points this morning at 7500. 

4 hours; 8 Months

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Markets Overview:

The UK 100 is called to open +25 points this morning at 7500. The UK 100 looks set to open through 7500 this morning, despite heavy falls in the US as the Hang Seng rebounded sharply after yesterday’s falls as China reported its first fall in Covid cases since 19 November.  At the close the Dow Jones Industrial Average slumped 497 points, or 1.45%, to 33.850, the S&P 500 dropped 62 points, or 1.54%, to 3,964 and the Nasdaq Composite fell 177 points, or 1.58%, to 11,050.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca are to buy global clinical-stage biotechnology company Neogene for around $320m.

 

 

BP state that talks between management and unions at the BP Rotterdam Refinery were not successful and labour actions at the large facility will continue.

 

 

EasyJet report that their summer bookings for next year are looking positive, after they posted an annual loss of £178m, in line with forecasts.

 

 

Greencore report a FY pretax profit of £39.8m (2021: £27.8m profit) as they propose no dividend for FY22.

 

 

John Wood report that their business turnaround is progressing well which has been accelerated by the sale of Built Environment Consulting. They expect FY revenue to be between $5.2-5.5bn and an adjusted EBITDA of between $370-400m.

 

 

Shaftesbury swings to a pretax profit of £119.1m (2021: £194.9m loss). They report a FY22 dividend of 5.1p (2021: 4p) as they note a growing concern for global and domestic economies.

 

 

Shell will acquire Danish biogas producer Nature Energy for nearly $2bn, as they look to boost their low-carbon business amid growing interest in biogas.

 

 

888 Holdings targets 2025 revenue of above £2bn with an adjusted EBITDA margin of above 23%.

 

 

Broker Comments:

Berenberg Downgrades Boohoo to Hold from Buy (4 Buys / 15 Holds / 3 Sells)

 

 

Berenberg Upgrades Londonmetric Property to Hold from Sell (5 Buys / 4 Holds / 1 Sell)

Reporting Today:

Shaftesbury

 

 

easyJet

 

Reporting Wednesday:

Future

 

Pennon Group

 

In Focus Today:

 

EU Business Climate

 

EU Consumer Confidence

 

German Harmonized Index of Consumer Prices

 

US Housing Price Index

 

US S&P/Case-Shiller Home Price Indices

 

US Consumer Confidence

 

Japanese Industrial Production

 

This Week's Ex-Dividends:

UK 100 companies going  ex-dividend on 1st December 2022:

 

 

3i Group

 

Severn Trent

 

Next

UK 250 companies going  ex-dividend on 1st December 2022:

 

 

Bellway

 

Ninety One

 

Fidelity Special Values

 

Pets At Home Group

 

CMC Markets

 

Warehouse REIT

 

Telecom Plus

 

LXi REIT

 

LondonMetric Property

 

Hill & Smith Holdings

 

AVI Global Trust

 

Alliance Trust

 

Caledonia Investments

 

Personal Assets Trust

 

Oxford Instruments

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