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Morning Report - 30 September 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
ROLLS-ROYCE HOLDINGS PLC 68.3 2.3%
BAE SYSTEMS PLC 825.0 2.0%
GLENCORE PLC 486.8 1.3%
ANGLO AMERICAN PLC 2,760.0 1.2%
RECKITT BENCKISER GROUP PLC 6,124.0 0.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
NEXT PLC 4674.0 -12.2%
OCADO GROUP PLC 469.3 -10.2%
AUTO TRADER GROUP PLC 495.1 -8.5%
RIGHTMOVE PLC 466.6 -7.1%
FRASERS GROUP PLC 667.0 -6.5%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,882 -1.8% -3.2%
DOW JONES INDUS. AVG 29,226 -1.5% -15.0%
DAX INDEX 11,976 -1.7% -22.1%
NIKKEI 225 26,422 1.0% -10.3%
S&P/ASX 200 INDEX 6,555 1.4% -10.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 81.59 -0.68%
Brent Crude (ICE) USD/bbl. 88.57 -0.84%
Gold Spot USD/t oz. 1,660 0.0%
Copper (Comex) USd/lb. 343 2.0%
The UK 100 is called to open -14 points this morning at 6867.

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -14 points this morning at 6867.  Calls for a muted open come after markets endured a torrid trading session on Thursday, markets reacted strongly to US GDP figures coming in at -0.6% growth and markets further digested this weeks mini budget in the UK.  However, this morning, UK GDP for quarter two of this year has been revised upwards to show growth of 0.2% from the previous estimate of a contraction of 0.1% suggesting the UK may not be in recession.  By the close on Wall street, the Dow Jones was 458 points, or 1.54% lower, at 29,226, the S&P eased 79 points, or 2.11%, to 3,640 and the tech-heavy Nasdaq slid 314 points, or 2.84% to 10,738.

 

Company News & Broker Comments:

Company News:

Cineworld this morning presented its Interim Results for the six-month period ended 30 June 2022.  Both gross profit of $424.5m (H1 2021: $9.6m) and operating profit of $57.3m (H1 2021: operating loss of $208.9m) have been positively impacted by steadily increasing admission levels.  Q3 admissions have been below expectations, however, Q4 is anticipated to be stronger, supported by the scheduled release of Black Adam, Black Panther: Wakanda Forever, Avatar: The Way of Water and other blockbuster films.

Dignity this morning delivered interim results, underlying revenue fell by 17%, while operating profit fell by 61% and underlying profit before tax fell 97%.  The Trading Group's period end cash position was £32.9 million versus £55.9 million at 31 December 2021 and £64.8 million (excluding £16.9 million of restricted cash) at 25 June 2021.  Dividends will not currently be paid.

Broker Comments:

 No new broker comments.

Reporting Today:

Cineworld

 

Dignity

 

Reporting Friday:

 

None

 

In Focus Today:

Chinese NBS Manufacturing PMI

Chinese Non-Manufacturing PMI

Chinese Caixin Manufacturing PMI

UK Gross Domestic Product

German Retail Sales

German Unemployment Change

EU HICP

EU HICP-X F,E,A,T

EU Unemployment Rate

US Personal Income

US Personal Spending

Chicago Purchasing Managers' Index

Michigan Consumer Sentiment Index

Fed's Williams speech

 

Next Week's Ex-Dividends:

UK 100 companies going  ex-dividend on 6th October 2022:

 

Smith (DS)

 

Kingfisher

 

Centrica

 

F&C Investment Trust

 

UK 250 companies going  ex-dividend on 6th October 2022:

 

Hammerson

 

Vistry Group

 

Bank of Georgia Group

 

Synthomer

 

TP ICAP Group

 

Morgan Sindall Group

 

Travis Perkins

 

Supermarket Income REIT

 

Bodycote

 

Kainos Group

 

Hammerson

 

Murray International Trust

 

Weir Group

 

RIT Capital Partners

 

Spectris

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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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