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Morning Report - 6 January 2022

Yesterday’s UK 100 Leaders	Price (p)	% Chg
OCADO GROUP PLC	1,605.5	3.2%
ANGLO AMERICAN PLC	3,182.0	2.8%
KINGFISHER PLC	356.0	2.4%
BHP GROUP PLC	2,267.0	2.1%
RIO TINTO PLC	5,035.0	2.0%

Yesterday’s UK 100 Laggards	Price (p)	% Chg
SCOTTISH MORTGAGE INV TR PLC	1249.5	-3.3%
POLYMETAL INTERNATIONAL PLC	1249.0	-2.6%
RENTOKIL INITIAL PLC	558.4	-1.9%
EXPERIAN PLC	3572.0	-1.8%
PRUDENTIAL PLC	1294.5	-1.6%

Major World Indices	Price	% Chg	1 YEAR
UK 100 INDEX	7,517	0.2%	9.9%
DOW JONES INDUS. AVG	36,407	-1.1%	18.1%
DAX INDEX	16,272	0.7%	17.1%
NIKKEI 225	28,488	-2.9%	5.3%
S&P/ASX 200 INDEX	7,358	-2.7%	11.4%

Commodities	Units	Price	% Chg
WTI Crude Oil (Nymex)	USD/bbl.	77.34	-0.66%
Brent Crude (ICE)	USD/bbl.	80.27	-0.66%
Gold Spot	USD/t oz.	1,804	-0.4%
Copper (Comex)	USd/lb.	437	-0.9%

The UK 100 is called to open -85 points today at 7434.

4 hours; 10 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -85 points today at 7434. The UK's Bluechip index looks set to fall this morning, having been more than 100 points lower overnight, following US and Asian markets lower, following a negative reaction to what has been perceived as some very hawkish Fed minutes. Wall Street saw the Dow Jones drop 392 points or 1.07% to close at 36,407 whilst the S&P 500 dropped 1.94% to end at 4,700. The Nasdaq was the weakest performer, losing 522 points or 3.3% to close out Wednesday at 15,100.

Company News & Broker Comments:

Company News:

Avon Protection names former Ultra Electronics executive Rich Cashin as CFO.

Glencore receives AUD800m as they close the sale of their Ernest Henry copper-gold mine in Queensland.

Greggs appoints Roisin Currie as their new CEO to succeed Roger Whiteside in May as they reported a 0.8% rise in like-for-like sales in Q4 compared to two years ago. They anticipate their FY outcome to be slightly ahead of previous expectations. They also expect to make additional distribution to shareholders of £30-40m in 2022.

Next beat guidance for sales in the run-up to Christmas and raised its FY profit outlook for the fifth time in 10 months. Full-price sales rose 20% in eight weeks to Dec 25^th v the same period in 2019-20, before the pandemic impacted trading. They have forecast a FY 2021-22 pretax profit of £822m, up from the £800m previously guided. They also declared a further special dividend of 160p a share to be paid at end of Jan 2022.

Broker Comments

Berenberg Downgrades JD Wetherspoon to Hold from Buy (7 Buys / 2 Holds / 0 Sells)

Berenberg Downgrades On The Beach Group to Hold from Buy (3 Buys / 4 Holds / 2 Sells)

Berenberg Upgrades Restaurant Group to Buy from Hold (10 Buys / 3 Holds / 0 Sells)

Berenberg Upgrades WH Smith to Buy from Hold (5 Buys / 3 Holds / 0 Sells)

Bernstein Downgrades Johnson Matthey to Market perform from Outperform (5 Buys / 8 Holds / 3 Sells)

Citigroup Downgrades RELX to Neutral from Buy (6 Buys / 7 Holds / 1 Sell)

Reporting Today:

Clarkson

Greggs

Reporting Tomorrow:

None

In Focus Today:

Chinese Caixin Services PMI

EU Retail Sales

German Harmonized Index of Consumer Prices

US Goods and Services Trade Balance

US Initial Jobless Claims

US Factory Orders

Today's Ex-Dividends:

FTSE 100:

AVEVA Group

Auto Trader Group

Experian

FTSE 250:

Brewin Dolphin Holdings

AJ Bell

Ferrexpo

Murray International Trust

QinetiQ Group

Workspace Group

BMO Global Smaller Companies

F&C Investment Trust

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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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