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Morning Report - 26 October 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
SEGRO PLC 798.0 7.1%
LAND SECURITIES GROUP PLC 568.8 5.9%
FLUTTER ENTERTAINMENT PLC-DI 11,375.0 5.6%
OCADO GROUP PLC 504.8 5.3%
HARGREAVES LANSDOWN PLC 777.0 4.9%
Yesterday’s UK 100 Laggards Price (p) % Chg
HSBC HOLDINGS PLC 442.7 -6.8%
SHELL PLC 2289.5 -2.4%
STANDARD CHARTERED PLC 554.4 -1.3%
COMPASS GROUP PLC 1819.5 -1.2%
HARBOUR ENERGY PLC 371.0 -1.1%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,013 0.0% -3.6%
DOW JONES INDUS. AVG 31,837 1.1% -11.0%
DAX INDEX 13,053 0.9% -17.2%
NIKKEI 225 27,432 0.7% -5.8%
S&P/ASX 200 INDEX 6,811 0.2% -8.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 84.62 -0.82%
Brent Crude (ICE) USD/bbl. 92.51 -1.08%
Gold Spot USD/t oz. 1,663 0.6%
Copper (Comex) USd/lb. 343 0.9%
The UK 100 is called to open -13 points this morning at 7000. 

4 hours; 8 Months

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Markets Overview:

The UK 100 is called to open -13 points this morning at 7000.  after falls after shares in Alphabet and Microsoft were sold off in after-hours business in the US taking the shine off another strong day for US markets.  US markets forged ahead once more driven by falling Treasury yields and hopes that the aggressive rate rising stance of the Federal Reserve might soften in light of a series of soft US economic data.  At the close the Dow Jones was up 338 points at 31,837, the S&P advanced 62 points to 3,859 and the Nasdaq rose 247 points to 11,199.

 

Company News & Broker Comments:

Company News:

Barclays this morning announced a Q3 profit of £2bn before tax, with income of £6bn.  Barclays are targeting a RoTE of greater than 10% in 2022.  FY22 total operating expenses are expected to be in line with the outlook given at H122 results of around £16.7bn1, with a reduction in litigation and conduct charges of around £0.3bn broadly offset by headwinds from FX and other movements

 

Reckitt Benckiser today announced, group like-for-like (LFL) revenue growth of 7.4%.  Group reported net revenue growth of 14.0%.  The company said, that they had delivered another quarter of broad-based growth amidst challenging market conditions.

 

Standard Chartered The Group delivered a strong performance in the third quarter of 2022, generating an underlying return on tangible equity of 10.1 per cent with underlying profit before tax increasing 32 per cent. Income grew 22 per cent on a constant currency basis and excluding normalisation adjustments, with a continued strong performance in Financial Markets.

 

WPP said today that they have performed well in the third quarter, continuing the positive momentum built up through the first half of the year. Revenue in the third quarter was up 10.3% at £3.6 billion. On a constant currency basis, revenue was up 1.4% year-on-year. Like-for-like growth, excluding the impact of currency, acquisitions and disposals, was 2.7%.

Broker Comments:

No New Broker Comments

Reporting Today:

Barclays

 

Softcat

 

Standard Chartered

 

Reporting Thursday:

C&C Group

 

Indivior

 

Shell

 

Lloyds Banking Group

 

In Focus Today:

 

US Durable Goods Orders

 

US Gross Domestic Product Annualized

 

US Nondefense Capital Goods Orders ex Aircraft

 

US New Home Sales

 

BoC Interest Rate Decision

 

Bank of Canada Monetary Policy Report

 

BoC Rate Statement

 

BoC Press Conference

 

Tomorrow's Ex-Dividends:

UK 100 companies going  ex-dividend on 27th October 2022:

 

Dechra Pharmaceuticals

 

UK 250 companies going  ex-dividend on 27th October 2022:

 

Morgan Advanced Materials

 

Foresight Solar Fund

 

City of London Investment Trust

 

Balfour Beatty

 

Bankers Investment Trust

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