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Morning Report - 29 September 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
LAND SECURITIES GROUP PLC 518.8 6.9%
BURBERRY GROUP PLC 1,771.5 5.2%
BRITISH LAND CO PLC 350.0 4.6%
FRESNILLO PLC 745.6 4.5%
SEGRO PLC 722.2 4.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
AIRTEL AFRICA PLC 131.7 -6.7%
M&G PLC 167.5 -6.5%
LEGAL & GENERAL GROUP PLC 219.5 -6.0%
PHOENIX GROUP HOLDINGS PLC 531.4 -4.9%
AVIVA PLC 388.9 -4.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,003 0.3% -2.0%
DOW JONES INDUS. AVG 29,402 0.9% -14.3%
DAX INDEX 12,173 0.3% -21.3%
NIKKEI 225 26,174 -1.5% -13.3%
S&P/ASX 200 INDEX 6,462 -0.5% -11.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 80.98 3.16%
Brent Crude (ICE) USD/bbl. 88.34 2.40%
Gold Spot USD/t oz. 1,652 1.4%
Copper (Comex) USd/lb. 333 1.4%
The UK 100 is called to open -13 points this morning at 6992.  

4 hours; 8 Months

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Markets Overview:

The UK 100 is called to open -13 points this morning at 6992.  The UK 100 looks set to open marginally lower this morning following yesterdays rollercoaster session after intervention from the Bank of England saw the FTSE bounce just under 200 points during the session, In the US, markets rebounded strongly with the Dow up 547 points, 1.9%, at 29,682, the Nasdaq up 222 points, 2.1%, to 1,052 and the S&P up 71 points, 2%, to 3,719.  Asian markets were also higher with the Nikkei 225 up 1.0% in late trade in Tokyo and the Hang Seng 0.9% to the good.

Company News & Broker Comments:

Company News:

Bakkavor says their CEO Agust Gudmundsson will retire on Oct 31stand he will be replaced by their current CFO Mike Edwards effective Nov 1st.
M&G hires Andrea Rossi as their new CEO, effective from Oct 10th after John Foley steps down.
 
Mitchells & Butlers says FY22 total LfL sales are 0.9% lower than in FY19. They state that FY22 food sales are up 5.2% and drink is down 4.1% v FY19.
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Next cuts their FY profit guidance to £840m from £860m previously as they state that August trade was below its expectations but sales in September have improved. They reported a H1 pretax profit of £401m, up 16% YoY. They have cut their forecast for H2 full price sales to 1.5% decline YoY from 1% growth. They say there is "little to be lost from preparing for tougher times" ahead.

Broker Comments:

ODDO BHF Upgrades GlaxoSmithKline to Outperform (8 Buys / 15 Holds / 1 Sell)
RBC Downgrades THG to Sector Perform from Outperform (4 Buys / 7 Holds / 0 Sells)

Reporting Today:

Next

 

Reporting Friday:

 

Cineworld

 

Dignity

 

In Focus Today:

 

EU Business Climate

 

EU Consumer Confidence

 

German Harmonized Index of Consumer Prices

 

US Gross Domestic Product Annualized

 

US Initial Jobless Claims

 

Japanese Unemployment Rate

 

Japanese Industrial Production

 

Japanese Retail Trade

 

This morning's Ex-Dividends:

UK 100 companies going  ex-dividend on 29th September 2022:

 

Barratt Developments

 

British American Tobacco

 

Smith & Nephew

 

Smurfit Kappa Group

 

Rightmove

 

UK 250 companies going  ex-dividend on 29th September 2022:

 

Hays

 

Petershill Partners

 

Hipgnosis Songs Fund

 

LXi REIT

 

Finsbury Growth & Income Trust

 

Computacenter

 

Mercantile Investment Trust

 

Games Workshop Group

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