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Morning Report - 9 March 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
M&G PLC 205.1 15.0%
FRESNILLO PLC 808.4 9.3%
ITV PLC 79.2 7.8%
BP PLC 380.0 5.1%
INTL CONSOLIDATED AIRLINE-DI 121.3 4.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
POLYMETAL INTERNATIONAL PLC 92.0 -46.7%
RELX PLC 2071.0 -6.4%
OCADO GROUP PLC 1105.0 -6.4%
RIGHTMOVE PLC 612.8 -6.0%
RENTOKIL INITIAL PLC 444.5 -5.7%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,964 0.1% 3.5%
DOW JONES INDUS. AVG 32,633 -0.6% 2.6%
DAX INDEX 12,832 0.0% -10.8%
NIKKEI 225 24,718 -0.3% -14.9%
S&P/ASX 200 INDEX 7,053 1.0% 4.2%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 125.85 1.74%
Brent Crude (ICE) USD/bbl. 130.59 2.04%
Gold Spot USD/t oz. 2,047 -0.2%
Copper (Comex) USd/lb. 472 0.2%

 

The UK 100 is called to open +125 points today at 7092 

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open +125 points today at 7092.  The UK 100 is expected to start Wednesday positively as market volatility continues across global equities.  This comes as a plan for a European Union bond issue was floated as a means to ease pressure amidst soaring energy prices and an evident determination to end Europe’s dependence on Russian oil and gas imports. The Dow Jones dropped 184.74 points to 32,632.64, having been up 585 points earlier in the session. The S&P fell 0.7% to 4,170.70. The Nasdaq slid 0.3% to 12,795.55.  The small-cap Russell bucked the market trend and rose 0.6% on Tuesday.  In Asia this morning, Japan’s Nikkei was down 0.3% at 24,717 and Hong Kong’s Hang Seng was 1.73% lower at 20,406. The Shanghai Composite dipped 1.27% to 3,251.

 

Company News & Broker Comments:

 

Company News:

 

Legal & General reports a FY pretax profit of £2.49bn (2020: £1.79bn) and a FY EPS of 34.19p. Their FY dividend came in at 18.45p per share, an increase from 17.57p YoY.
 
London Stock Exchange has said it will suspend the provision in Russia of products containing news and commentary from 12pm on Wednesday.
Prudential reports that their 2021 pretax profit fell to $3.02bn (2020: $3.18bn) as they lift their dividend by 7% to 17.23 cents per share. They state that the timing of the Hong Kong border reopen is uncertain and Covid is to have an ongoing impact in 2022.
Stagecoach agrees to takeover offer from Pan-European Infrastructure III of 105p cash per share, valuing the company at £594.9m.
Tullow Oil swings to a FY pretax profit of $202.7m (2020: $1.27bn loss) as they guide for FY underlying operating cash flow of around $750m.
Unilever has become the first major European food company to stop imports and exports out of Russia after the country's invasion of Ukraine.

 

Broker Comments

 

Deutsche Bank Downgrades ITV to Hold from Buy (5 Buys / 5 Holds / 0 Sells)
 
RBC Upgrades Rotork to Outperform from Underperform (2 Buys / 8 Holds / 0 Sells)

 

Reporting Today:

 

Biffa

 

Ibstock

 

Legal & General Group

 

Network International Holdings

 

Prudential

 

Quilter

 

Reporting Tomorrow:

 

DS Smith

 

Hill & Smith Holdings

 

IG Group Holdings

 

Just Group

 

National Express Group

 

Savills

 

Spirax-Sarco Engingeering

 

In Focus Today:

 

Chinese Consumer Price Index

 

UK Budget Report

 

Tomorrow'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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