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Morning Report - 3 May 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
AVEVA GROUP PLC 2,175.0 5.9%
SMURFIT KAPPA GROUP PLC 3,413.0 4.3%
ANGLO AMERICAN PLC 3,586.0 3.8%
MONDI PLC 1,510.0 3.4%
SCOTTISH MORTGAGE INV TR PLC 914.0 3.1%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
HIKMA PHARMACEUTICALS PLC 1883.5 -7.2%
VODAFONE GROUP PLC 121.5 -4.3%
NATIONAL GRID PLC 1194.0 -2.6%
NATWEST GROUP PLC 218.0 -2.2%
HARGREAVES LANSDOWN PLC 917.2 -2.2%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,545 0.5% 8.3%
DOW JONES INDUS. AVG 33,062 0.3% -3.1%
DAX INDEX 13,939 -1.1% -7.9%
NIKKEI 225 26,819 -0.1% -6.9%
S&P/ASX 200 INDEX 7,316 -0.4% 4.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 105.12 -0.05%
Brent Crude (ICE) USD/bbl. 107.54 -0.04%
Gold Spot USD/t oz. 1,859 -0.2%
Copper (Comex) USd/lb. 432 1.3%

 

The UK 100 is called to open -70 points at 7480.

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -70 points at 7480.  The UK 100 looks set to retrace this morning, ahead of a big week of central bank action, the expectation is tomorrow No the US Federal Reserve will hike rates by 50 basis points and on Thursday the Bank of England are expected to make an increase of half that size.  On Friday tech stocks led Wall Street higher, with the Nasdaq climbing 1.6%, followed by the S&P with a 0.6% rise and the Dow Jones up 0.3%.

Company News & Broker Comments:

 

Company News:

BP's net profit for Q1 rose to $6.25bn, the highest in over a decade, on soaring oil and gas prices as the company took a $24bn charge after exiting Russia in February. BP's underlying replacement cost profit reached $6.2bn in Q1, far exceeding analysts' expectations of $4.49bn profit. The $24bn writedown of its 19.75% stake in Russian oil giant Rosneft and two other joint ventures pushed BP into a headline loss of $20.4bn in the quarter.

 

 

Card Factory swings to a FY pretax profit of £11.1m (2021: loss of £16.4m) as no dividends are to be paid for FY22. They are trading in new FY in line with expectations as they expect to be back at pre-pandemic level revenues in 2023.

 

 

CRH completes the sale of Building Envelope business in a $3.8bn deal first announced in Feb.

 

 

Wizz Air reports that their April passenger numbers are up to 3.62m v 564,643 the year before. Their April 2022 load factor up at 83.4% v 59.2% the year previously.

Broker Comments:

 

Berenberg Upgrades Petrofac to Buy from Hold (2 Buys / 4 Holds / 0 Sells)

 

 

HSBC Upgrades M&G to Buy from Hold (4 Buys / 6 Holds / 0 Sells)

 

 

HSBC Upgrades St James's Place to Buy from Hold (7 Buys / 7 Holds / 0 Sells)

 

 

JP Morgan Downgrades AO World to Underweight from Neutral ( 1 Buy / 5 Holds / 0 Sells)

 

Reporting Today:

 

BP

 

Reporting Tuesday:

Direct Line Insurance Group

 

 

In Focus Today:

Eurogroup Meeting

 

German Unemployment

 

UK S&P Global/CIPS Manufacturing PMI

 

EU Unemployment

 

US Factory Orders

 

 

This Week's Ex-Dividends:

 

FTSE 100:

Admiral Group

 

Croda International

 

FTSE 250:

Hiscox

 

Hochschild Mining

 

GCP Infrastructure Investments

 

Edinburgh Investment Trust

 

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