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Morning Report - 28 October 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
SHELL PLC 2,425.0 5.5%
BP PLC 481.9 3.4%
HARBOUR ENERGY PLC 394.0 3.0%
MELROSE INDUSTRIES PLC 116.5 2.9%
ROLLS-ROYCE HOLDINGS PLC 76.3 2.5%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
AIRTEL AFRICA PLC 107.8 -15.1%
RIO TINTO PLC 4664.0 -3.7%
COCA-COLA HBC AG-DI 1840.0 -3.4%
GLENCORE PLC 501.0 -2.9%
INTERTEK GROUP PLC 3757.0 -2.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,074 0.3% -2.4%
DOW JONES INDUS. AVG 32,033 0.6% -10.4%
DAX INDEX 13,211 0.1% -15.9%
NIKKEI 225 27,105 -0.9% -6.0%
S&P/ASX 200 INDEX 6,786 -0.9% -8.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 87.89 -1.34%
Brent Crude (ICE) USD/bbl. 96.02 -0.97%
Gold Spot USD/t oz. 1,658 -0.3%
Copper (Comex) USd/lb. 346 -1.6%
The UK 100 is called to open -60 points this morning at 7015.

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -60 points this morning at 7015. The UK 100 looks set to nurse some hefty falls at the open following some more disappointing earnings from big tech companies, Amazon and Apple overnight.  Yesterday, Meta plunged more than 24% yesterday.  On the broader markets, the Nasdaq dropped 2.04%, to close at 10,970.99. The S&P lost 0.74%, ending at 3,830.60. The 30-stock Dow Jones gained 2.37 points, roughly flat for the day and ending at 31,839.11.

 

Company News & Broker Comments:

Company News:

Centrica has announced the reopening of the Rough gas storage facility, having completed significant engineering upgrades over the summer and commissioning over early autumn.

 

IAG, owner of British Airways and Iberia, reported third-quarter adjusted operating profit of 1.21 billion euros ($1.21 billion) after revenue returned to pre-pandemic levels despite much of its Asian network remaining closed due to COVID restrictions.

 

NatWest reported flat quarterly profits on Friday, as bad loan charges from a worsening economic outlook took the shine off income boosted by rising interest rates.  NatWest posted pre-tax profit of 1.1 billion pounds ($1.27 billion) for July-September, slightly below the 1.2 billion pounds average of analyst forecasts compiled by the bank, and unchanged on the prior year.  The bank set aside an additional 247 million pounds in the quarter to reflect the deteriorating picture, denting its profits.  NatWest said it still expects to reach its return on equity target - a key measure of profitability - of 14-16% in 2023, but said the route to achieving that would be different as both income and costs rise amid rising interest rates and inflation.

Broker Comments:

No New Broker Comments

Reporting Today:

 

Helios Towers

 

NatWest Group

 

International Consolidated Airlines Group

 

Reporting Monday:

Airtel Africa

 

In Focus Today:

 

BoJ Interest Rate Decision

 

BoJ Monetary Policy Statement

 

BoJ Press Conference

 

German Gross Domestic Product

 

German Unemployment Change

 

EU HICP

 

US Core Personal Consumption Expenditures - Price Index

 

US Personal Income

 

US Personal Spending

 

Michigan Consumer Sentiment Index

 

US Pending Home Sales

 

US UoM 5-year Consumer Inflation Expectation

 

Next Week's Ex-Dividends:

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

 

None

 

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

 

Ashmore Group

 

GCP Infrastructure Investments

 

VinaCapital Vietnam Opportunity Fund

 

Renishaw

 

Hilton Food Group

 

Edinburgh Investment Trust

 

European Opportunities Trust

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