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Morning Report - 8 March 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
EVRAZ PLC 77.0 28.3%
SHELL PLC 1,981.0 8.1%
BAE SYSTEMS PLC 740.8 7.1%
BP PLC 361.5 3.8%
GLENCORE PLC 474.9 3.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
MELROSE INDUSTRIES PLC 113.2 -6.7%
PRUDENTIAL PLC 1019.0 -6.1%
COCA-COLA HBC AG-DI 1480.0 -6.0%
INTL CONSOLIDATED AIRLINE-DI 116.2 -5.9%
NATWEST GROUP PLC 192.9 -4.8%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,959 -0.4% 5.0%
DOW JONES INDUS. AVG 32,817 -2.4% 4.2%
DAX INDEX 12,835 -2.0% -7.8%
NIKKEI 225 25,221 -2.9% -12.3%
S&P/ASX 200 INDEX 7,039 -1.0% 4.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 119.40 3.22%
Brent Crude (ICE) USD/bbl. 124.49 5.40%
Gold Spot USD/t oz. 1,998 0.0%
Copper (Comex) USd/lb. 473 -4.2%
The UK 100 is called to open -75 points today at 6880. 

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -75 points today at 6880.   The UK 100 looks set for a big opening fall as oil and gas prices soared to new record highs, with Russia threatening to cut off gas supplies to Europe. This comes after the UK’s index of bluechip stocks all but recovered all of its intra day losses before the close yesterday.  Wall Street saw steep declines overnight, the steepest daily fall in 17 months. The tech stocks of the Nasdaq saw the biggest fall, tumbling 3.62%, the S&P 500 plunging 2.95% and the Dow Jones falling 2.37%.

 

Company News & Broker Comments:

 

Company News:

 

Ashtead reports a Q3 pretax profit of $393m, +38% from $284m YoY. They expect FY results to be slightly ahead of previous expectations. They state that the business is performing strongly despite supply chain constraints, labour issues.
 
Direct Line Insurance reports that their 2021 pretax profit fell 1.2% to £446m (2020: £451.4m)as their gross written premiums fell 0.3%. They declared no special dividend.
Domino's Pizza Group reports a FY pretax profit of £109.7m (2020: £98.9m) as they propose a final dividend of 6.8p. They expect FY22 underlying EBITDA and EPS to be in line with expectations.
 
Fresnillo reports a FY profit from continuing operations of $438.5m (2020: $375.6m). They expect FY22 silver production to be between 50.5-56.5m ounces and gold production to be between 600,000-650,000 ounces.
Greggs reported a record annual profit for 2021 after a COVID-19 driven loss the previous year but warned that cost pressures would prevent any material profit growth in 2022. They reported a pretax profit of £145.6m in the year to Jan 1st (2020: £13.7m loss).
 
Ted Baker hires Marc Dench as their new CFO.

 

Broker Comments

 

Jefferies Downgrades Travis Perkins to a Hold from Buy (9 Buys / 7 Holds / 1 Sell)

 

Reporting Today:

 

Ashtead Group

 

Capricorn Energy

 

Clarkson

 

ConvaTec Group

 

Direct Line Insurance Group

 

Domino's Pizza Group

 

Fresnillo

 

Greggs

 

IWG

 

M&G

 

Wood Group (John)

 

Reporting Tomorrow:

 

Biffa

 

Ibstock

 

Legal & General Group

 

Network International Holdings

 

Prudential

 

Quilter

 

In Focus Today:

 

UK BRC Like-For-Like Retail Sales

 

EU Gross Domestic Product s.a.

 

US Goods and Services Trade Balance

 

Japanese Gross Domestic Product

 

This Week's Ex-Dividends:

 

FTSE 100:

Evraz

 

Rio Tinto

 

Persimmon

 

HSBC Holdings

 

CRH

 

Land Securities Group

 

FTSE 250:

Micro Focus International

 

Apax Global Alpha

 

PZ Cussons

 

SDCL Energy Efficiency Income Trust

 

Assura

 

Law Debenture Corporation

 

Chemring Group

 

LondonMetric Property

 

Tritax Big Box REIT

 

Alliance Trust

 

JPMorgan Emerging Markets Invest Trust

 

Renishaw

 

BMO Commercial Property Trust

 

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