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Morning Report - 7 April 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
IMPERIAL BRANDS PLC 1,669.0 3.3%
BRITISH AMERICAN TOBACCO PLC 3,305.0 2.4%
BERKELEY GROUP HOLDINGS/THE 3,947.0 2.1%
BARRATT DEVELOPMENTS PLC 530.4 2.1%
VODAFONE GROUP PLC 128.0 2.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
INTERMEDIATE CAPITAL GROUP 1691.5 -6.3%
SMURFIT KAPPA GROUP PLC 3130.0 -6.0%
SCOTTISH MORTGAGE INV TR PLC 978.4 -5.2%
JD SPORTS FASHION PLC 146.1 -5.1%
FLUTTER ENTERTAINMENT PLC-DI 8570.0 -4.8%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,588 -0.3% 10.2%
DOW JONES INDUS. AVG 34,497 -0.4% 3.1%
DAX INDEX 14,152 -1.9% -6.8%
NIKKEI 225 26,889 -1.7% -9.6%
S&P/ASX 200 INDEX 7,443 -0.6% 7.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 97.73 1.56%
Brent Crude (ICE) USD/bbl. 102.76 1.67%
Gold Spot USD/t oz. 1,925 0.0%
Copper (Comex) USd/lb. 470 -0.7%

 

The UK 100 is called to open flat at 7587.  

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open flat at 7587.  FTSE 100 was set to open largely flat this morning, following yesterday's Federal reserve minutes which suggested tightening measures look more imminent.  US share indices finished Wednesday's session down though did rally late in the day. Asian equity markets slipped on Thursday as they faced a confluence of headwinds including the Russia-Ukraine conflict, inflation, and rising interest rates.  Japan's Nikkei 225 tumbled 1.54% while South Korea’s Kospi declined 1.24%.  The Shanghai Composite in China fell 1.03% and Hong Kong’s Hang Seng index dipped 1.06%.

 

Company News & Broker Comments:

 

Company News:

Bellway signs UK government developer's pledge for fire safety issues, as they expect the bill to be £300m in addition to the £186.8m they set aside in 2017.

 

 

Capita secures a £50.6m two-year contract extension with Northern Ireland education authority.

 

 

Entain reported a surge in Q1 total net gaming revenue, benefiting from a rebound at its retail shops even as online growth declined. Total net gaming revenue rose 31% in Q1.

 

 

Shell expects to write off $4-5bn post-tax from the value of its assets in Q1 2022 following its decision to exit Russia. They also state that Q1 integrated gas trading will be higher than Q4, as integrated gas production for Q1 came in between 860,000-910,000 boepd.

 

 

Vistry signs fire safety issues pledge as they expect further remediation costs will be in the £35-50m range.

Broker Comments:

Jefferies Downgrades Pagegroup to Hold from Buy (6 Buys / 5 Holds / 1 Sell)

 

Reporting Today:

 

Entain

 

Hilton Food Group*

 

Reporting Tomorrow:

Ferrexpo

 

 

In Focus Today:

 

EU Retail Sales

 

ECB Monetary Policy Meeting Accounts

 

BoE's Pill speech

 

US Initial Jobless Claims

 

Fed's Williams speech

 

Today's Ex-Dividends:

 

FTSE 100:

Abrdn

Aviva

Lloyds Banking Group

Mondi

Smurfit Kappa Group

Barratt Developments

Howden Joinery Group

Smith (DS)

Smiths Group

Rentokil Initial

Melrose Industries

 

FTSE 250:

Direct Line Insurance Group

Savills

Vistry Group

TP ICAP Group

Quilter

Man Group

Grafton Group

International Public Partnerships

Domino's Pizza Group

Harbour Energy

Murray International Trust

Rotork

VinaCapital Vietnam Opportunity Fund

IMI

F&C Investment Trust

Softcat

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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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