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Morning Report - 4 May 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
BP PLC 414.3 5.8%
BAE SYSTEMS PLC 766.6 3.6%
INTL CONSOLIDATED AIRLINE-DI 149.0 3.5%
BT GROUP PLC 183.3 3.4%
SAINSBURY (J) PLC 240.9 3.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
SEGRO PLC 1204.0 -10.3%
AVAST PLC 531.6 -5.7%
HOWDEN JOINERY GROUP PLC 724.6 -4.8%
CRODA INTERNATIONAL PLC 7440.0 -4.7%
SPIRAX-SARCO ENGINEERING PLC 11720.0 -3.5%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,561 0.2% 8.5%
DOW JONES INDUS. AVG 33,136 0.2% -2.9%
DAX INDEX 14,039 0.7% -7.9%
NIKKEI 225 26,819 -0.1% -6.9%
S&P/ASX 200 INDEX 7,316 -0.4% 3.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 102.70 -2.35%
Brent Crude (ICE) USD/bbl. 105.16 -2.25%
Gold Spot USD/t oz. 1,868 0.3%
Copper (Comex) USd/lb. 429 0.5%
The UK 100 is called to open flat this morning at 7560. 

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open flat this morning at 7560.  The UK 100 looks set to start modestly higher this morning, as most investors are prepared for a US interest rate rise when the Federal Reserve meet later today, consensus is a 50 basis point rate rise today would be of no surprise to most in the market, taking the Fed interest rate to 1%.  Yesterday on Wall Street saw the Dow Jones add 67 points or 0.2% to finish at 33,128 whilst the S&P 500 nudged up 0.49% to 4,175.  The Nasdaq was also higher by 0.22% to close at 12,563, whilst the small-cap Russell 2000 index performed best, rallying some 0.85% to 1,898.  In Asia this morning, trading was mixed, Japan’s Nikkei traded slightly lower at 26,818 and Hong Kong’s Hang Seng was 1.2% lower at 20,850. The Shanghai Composite, meanwhile, traded up slightly to 3,047.

Company News & Broker Comments:

 

Company News:

Aston Martin confirm that their CEO Tobias Moers will step down with immediate effect and former Ferrari boss Amedeo Felisa will take the helm. They reported a Q1 pretax loss of £111.6m (2021: £42.2m loss) which was in line with expectations, as they maintain 2022 guidance.

 

 

Boohoo report that their FY pretax profit fell 94% to £7.8m (down from £124.7m profit last year).

 

 

Cineworld have approached Regal Entertainment to reschedule payment obligations as they aim to "maximise its available liquidity" and they are "hopeful that a satisfactory agreement can be reached" with Regal.

 

 

Direct Line Insurance Group report that their Q1 FY22 written premiums were down 2.4% to £734.2m.

 

 

Flutter's Q1 revenue came in at $1.57bn v $1.49bn a year ago, as their Q1 average monthly players came in at 8.9m v 7.7m last year, +15 YoY.

 

 

J D Wetherspoon says they expect to "break-even" for profits in the current financial year as economies reopened, although it warned of rising cost pressures related to labour, energy and inflation. They have returned to profitability and to a positive cash flow since March 13th, adding that like-for-like sales for the 13 weeks to April 24th were 4% below pre-pandemic levels.

 

 

Ryanair report traffic numbers of 14.2m guests during April 2022 v 1m guests April 2021.

Broker Comments:

 

 Jefferies Upgrades Johnson Matthey to Buy from Hold (4 Buys / 12 Holds / 2 Sells)

 

Reporting Today:

 

Direct Line Insurance Group

 

Reporting Tomorrow:

Derwent London

Domino's Pizza Group

Helios Towers

IMI

Melrose Industries

Mondi

Morgan Sindall

Next

Rathbone Brothers

Shell

Trainline

Virgin Money

 

 

In Focus Today:

German Trade Balance

 

EU Retail Sales

 

German 10-y Bond Auction

 

US ADP Employment Change

 

US Goods and Services Trade Balance

 

US S&P Global Composite PMI

 

US ISM Services PMI

 

Fed Interest Rate Decision

 

Fed's Monetary Policy Statement

 

FOMC Press Conference

 

 

Tomorrow's Ex-Dividends:

 

FTSE 100:

Admiral Group

 

Croda International

 

FTSE 250:

Hiscox

 

Hochschild Mining

 

GCP Infrastructure Investments

 

Edinburgh 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.


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