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Morning Report - 7 November 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
SAINSBURY (J) PLC 211.6 6.9%
HARBOUR ENERGY PLC 402.9 4.7%
SMITH & NEPHEW PLC 1,034.5 2.8%
TESCO PLC 223.0 2.8%
HALEON PLC 274.4 2.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
BT GROUP PLC 116.4 -8.8%
RS GROUP PLC 885.0 -7.2%
ENDEAVOUR MINING PLC 1462.0 -4.5%
FLUTTER ENTERTAINMENT PLC 11225.0 -3.9%
ROLLS-ROYCE GROUP PLC 80.1 -3.4%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,335 2.0% 0.4%
DOW JONES INDUS. AVG 32,403 1.3% -10.8%
DAX INDEX 13,460 2.5% -16.2%
NIKKEI 225 27,528 1.2% -7.0%
S&P/ASX 200 INDEX 6,934 0.6% -7.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 91.20 -1.52%
Brent Crude (ICE) USD/bbl. 97.33 -1.26%
Gold Spot USD/t oz. 1,668 -0.8%
Copper (Comex) USd/lb. 363 -1.7%
The UK 100 is called to open -38 points this morning at 7296.

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -38 points this morning at 7296.  The UK 100 looks set to open slightly lower this morning as investors contemplated the latest comments regarding China potential changing of strict Covid rules.  Despite optimism last week that the Covid measures could be wound down slowly to let people and the economy breathe, the Chinese officials reiterated that they will ‘unswervingly’ stick to the Covid zero approach.  Some analysts believe that even in the best-case scenario, any reopening is unlikely to happen before Q2 of next year.  On Friday, the Dow Jones gained nearly 402 points, or 1.3%. The S&P rose 1.36%, and the Nasdaq was 1.28% higher. Still, the major averages closed the week with losses. The Dow ended a four-week win streak on rate hiking fears.

 

Company News & Broker Comments:

Company News:

Croda announce that their CFO Jez Maiden plans to step down after 8 years and will be replaced by Meggitt's CFO Louisa Burdett.

 

 

Flutter says arbitrator finds in favour of Flutter in FanDuel dispute with Fox.

 

 

GlaxoSmithKline says Blenrep did not meet primary endpoint of progression-free survival re myeloma.

 

 

Ryanair swings to a H1 pretax profit of 1.42bn euros from a 99.9m euro loss YoY. They state that 81% of FY fuel was hedged at $67 per barrel as they lift their FY traffic guidance to 168m passengers.

Broker Comments:

Credit Suisse Downgrades Kingfisher to Neutral from Outperform (1 Buy / 8 Holds / 4 Sells)

 

 

Goldman Sachs Downgrades Shell to Neutral from Buy (11 Buys / 1 Hold / 0 Sells)

Reporting Today:

None

 

Reporting Tuesday:

Associated British Foods (ABF)

 

Aveva Group

 

DCC

 

Oxford Instruments

 

Scottish Mortgage Investment Trust

 

Warehouse REIT

 

In Focus Today:

 

Eurogroup Meeting

 

Chinese Trade Balance USD

 

Japanese Overall Household Spending

 

This Week's Ex-Dividends:

UK 100 companies going  ex-dividend on 10th November 2022:

 

Airtel Africa

 

BP

 

Whitbread

 

Shell

 

UK 250 companies going  ex-dividend on 10th November 2022:

 

Dunelm Group

 

Softcat

 

Target Healthcare REIT

 

ContourGlobal

 

Greencoat UK Wind

 

Baillie Gifford Japan Trust

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