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Morning Report - 8 April 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
AIRTEL AFRICA PLC 142.3 2.5%
OCADO GROUP PLC 1,229.5 2.1%
SAINSBURY (J) PLC 246.0 2.0%
ASTRAZENECA PLC 10,668.0 2.0%
ASSOCIATED BRITISH FOODS PLC 1,629.0 1.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
AVIVA PLC 422.4 -4.9%
BARRATT DEVELOPMENTS PLC 507.8 -4.3%
ENTAIN PLC 1555.0 -4.1%
ABRDN PLC 203.0 -3.8%
PERSIMMON PLC 2171.0 -3.0%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,552 -0.5% 8.8%
DOW JONES INDUS. AVG 34,584 0.3% 3.4%
DAX INDEX 14,078 -0.5% -7.4%
NIKKEI 225 26,986 0.4% -9.7%
S&P/ASX 200 INDEX 7,478 0.5% 6.9%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 96.57 0.56%
Brent Crude (ICE) USD/bbl. 101.05 0.47%
Gold Spot USD/t oz. 1,931 -0.1%
Copper (Comex) USd/lb. 474 0.8%
The UK 100 is called to open +63 at 7613.

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +63 at 7613.  The UK's bluechip index looks set to recover yesterdays losses.  Stateside yesterday saw The Dow Jones advanced 87 points or 0.3% to close at 34,584 while the broader-based S&P climbed 19 points to 4,500, closing the day in credit despite more hawkish commentary from the Federal Reserve on interest rates.  In Asia this morning, markets have retreated slightly.  Tokyo’s Nikkei is down 6 points at 26,883 and Hong Kong’s Hang Seng is off 125 points at 21,684.

 

Company News & Broker Comments:

 

Company News:

BT faces the threat of strike action after a union rejected the company's latest pay plan.
Ferrexpo reports Q1 iron ore pellet production came in at 2.7m tonnes, down 11% QoQ due to the Ukraine war. They posted Q1 sales of 2.6m tonnes.
Jet2 reports a FY pretax loss of between £378-383m. They state that summer on sales seat capacity is 14% higher than 2019 levels as bookings are encouraging.
 
Johnson Matthey report that their FY underlying operating performance is in line with market forecasts, with a FY operating profit consensus of £528-572m. They state that autos end markets have partially recovered, boosting their clean air arm. Their health unit performance has been weak amid labour and supply issues. Roughly 1% of group sales in FY 2022 are related to Russia.
 
Unite Group sees strong progress in sales in Q1 and expects strong student demand for 2022/23. They have received planning approval for a 595-bed development in Bristol. Their property portfolio and investment portfolio was valued at £2.87bn and £1.87bn respectively on the 31st of March.

Broker Comments:

 No new broker comments

 

Reporting Today:

 

None

 

Reporting Tomorrow:

Ferrexpo

 

 

In Focus Today:

 

Japanese Current Account

 

Next Week's Ex-Dividends:

 

FTSE 100:

ITV

 

FTSE 250:

Vesuvius

 

Ibstock

 

Unite Group

 

BMO Commercial Property 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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