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Morning Report - 6 October 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
SHELL PLC 2,378.5 1.7%
AUTO TRADER GROUP PLC 544.4 1.6%
HALEON PLC 278.5 1.6%
BP PLC 460.2 1.3%
LONDON STOCK EXCHANGE GROUP 7,790.0 0.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
OCADO GROUP PLC 456.1 -10.0%
NEXT PLC 4762.0 -5.3%
ST JAMES’S PLACE PLC 1029.0 -4.9%
UNITE GROUP PLC/THE 839.0 -4.7%
SAINSBURY (J) PLC 172.2 -4.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,053 -0.5% 0.8%
DOW JONES INDUS. AVG 30,274 -0.1% -12.0%
DAX INDEX 12,517 -1.2% -16.4%
NIKKEI 225 27,311 0.7% -0.8%
S&P/ASX 200 INDEX 6,818 0.0% -5.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 87.52 -0.27%
Brent Crude (ICE) USD/bbl. 93.20 -0.18%
Gold Spot USD/t oz. 1,723 0.4%
Copper (Comex) USd/lb. 357 2.1%
The UK 100 is called to open +30 points this morning at 7082.

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +30 points this morning at 7082.  The UK 100 looks set top open higher today, erasing all of yesterdays early losses and then some.  Sterling was higher in Asian trading at $1.1363 despite a downgraded outlook for the credit rating of UK government debt as Fitch lowered the outlook for the debt to negative from stable while leaving the rating itself unchanged at "AA-".  It was a roller coaster session on Wall Street yesterday that saw all three major benchmarks fall significantly during the session before bouncing, by the close The Dow Jones was down just 42 points to 30,275, the S&P lost only 7 points to 3,784 and the Nasdaq slipped 28 points to 11,149.

 

Company News & Broker Comments:

Company News:

Diageo state they have made a good start to FY23 as they see organic net sales growth across all regions as they expect the operating environment to remain challenging. They see their organic operating profit growth sustainably in the range of 6-9% to FY25.

 

 

Ferrexpo report that their production of iron ore pellets slumped in Q3, as logistical constraints due to a Russian blockade of Ukraine's Black Sea ports kept the group's business under pressure. Iron ore pellet production declined 68% YoY to 0.8m tonnes in Q3.

 

 

Halma buys Weetech Holding for 57.5m euros.

 

 

Imperial Brands says FY22 trading was in line with expectations.

 

 

Shell report that their Q3 profits will be weakened by a sharp drop in refining margins and "significantly" weaker earnings from natural gas trading. Indicative refining margins dropped to $15 a barrel in the quarter compared with $28 a barrel in the previous 3 months.

 

 

888 Holdings launches 888bet in Kenya, Tanzania, Mozambique and Zambia.

Broker Comments:

 

Berenberg Downgrades Anglo American to Hold from Buy (7 Buys / 8 Holds / 1 Sell)

 

 

RBC Upgrades Segro to Outperform from Sector Perform (7 Buys / 8 Holds / 0 Sells)

Reporting Today:

Chemring Group

 

Volution Group

 

Reporting Friday:

 

Wetherspoons

 

In Focus Today:

German Factory Orders s.a.

 

EU Retail Sales

 

EU ECB Monetary Policy Meeting Accounts

 

US Initial Jobless Claims

 

Japanese Overall Household Spending

 

Today'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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