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Morning Report - 20 January 2026

Yesterday’s UK 100 Leaders Price (p) % Chg
Beazley 1,170.0 42.7%
Hiscox 1,516.0 9.1%
Fresnillo 3,996.0 6.7%
BT Group 185.4 3.6%
Endeavour Mining 4,096.0 2.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Flutter Entertainment 13,585.0 -6.0%
Pearson 939.0 -4.1%
Diploma 5,460.0 -4.0%
Metlen Energy & Metals 4,300.0 -3.8%
Melrose Industries 616.8 -3.8%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 10,195 0.4% 19.7%
DOW JONES INDUS. AVG 49,359 0.2% 13.5%
DAX INDEX 24,959 1.3% 18.9%
NIKKEI 225 52,991 1.1% 36.2%
S&P/ASX 200 INDEX 8,816 0.7% 5.6%
Commodity Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 59.58 0.24%
Brent Crude (ICE) USD/bbl. 63.87 0.11%
Gold Spot USD/t oz. 4,721 1.1%
Copper (Comex) USd/lb. 588 0.8%
The UK 100 is called to open -60 points at 10,135.

4 Hours; 2 Months

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Markets Overview:


The UK 100 is called to open -60 points at 10,135. 
The UK 100 and European markets are set to open another session in the red after President Trump’s tariff plans yesterday caused leading benchmarks to fall more than 1%.

Unemployment remained at 5.1% in the three months to November, while payrolled employees fell again, vacancies were roughly flat and private sector wage growth slowed to its lowest rate in five years.

With U.S. cash markets closed on Monday for Martin Luther King Jr. Day, investors reacted through futures markets, commodities and currencies instead – and the tone was firmly defensive.

Asian markets followed suit today. Japan’s Nikkei fell around 1% while broader Asia-Pacific equities also traded under pressure. Sentiment in Japan was further complicated by Prime Minister Sanae Takaichi’s announcement of a snap general election for February 8, raising concerns over future fiscal policy and government borrowing. Japanese government bond yields pushed higher, with the 10-year yield reaching its highest level in nearly three decades.  China offered only limited relief. Data showed the Chinese economy grew 5% in 2025, meeting Beijing’s target, while fourth-quarter GDP printed at 4.5% year-on-year. Industrial production beat expectations, but retail sales and fixed asset investment were softer, underlining continued weakness in domestic demand. Equity markets in Shanghai and Hong Kong were mixed to slightly lower as a result.

Company News & Broker Comments:

 

Company News:

BHP Group raised its annual copper production guidance to between 1.9 million and 2.0 million tonnes but reported an investment increase for its Jansen potash project to $8.4 billion.

Reporting Today:

 

UK

 

4imprint Group (FOUR) — Trading Statement

QinetiQ Group (QQ.) — Trading Statement

DFS Furniture (DFS) — Trading Statement

Kier Group (KIE)  — Trading Statement

Treatt (TET) — Full Year Results

BHP Group (BHP)  — Operational Review

US

 

Boeing Co (NYSE:BA) PMO

General Motors Co (NYSE:GM) PMO

UnitedHealth Group Inc (NYSE:UNH) PMO

Reporting Tomorrow:

 

UK

 

Burberry Group (BRBY) — Q3 Trading Update

JD Sports Fashion (JD.) — Q4 Trading Update

Experian (EXPN) — Trading Statement

Rio Tinto (RIO) — Fourth Quarter Operations Review

abrdn (ABDN) — Trading Statement

Premier Foods (PFD) — Trading Statement

Currys (CURY): FTSE 250 — Trading Statement

J D Wetherspoon (JDW) — Trading Statement

US

 

AT&T Inc (NYSE:T) PMO

Automatic Data Processing Inc (NASDAQ:ADP) PMO

GE Vernova Inc (NYSE:GEV) PMO

Starbucks Corp (NASDAQ:SBUX) PMO

International Business Machines Corp (NYSE:IBM) AMC

Meta Platforms Inc Class A (NASDAQ:META) AMC

Microsoft Corp (NASDAQ:MSFT) AMC

ServiceNow Inc (NYSE:NOW) AMC

Tesla Inc (NASDAQ:TSLA) AMC

 

In Focus Today:

 

PBoC Interest Rate Decision

German Producer Price Index

UK Average Earnings Excluding Bonus

UK Claimant Count Change

UK Employment Change

UK ILO Unemployment Rate

German ZEW Survey

EU ZEW Survey

US ADP Employment Change 4-week average

ECB’s Nagel speech

This Week’s Ex-Dividends:

 

 

UK 100 companies going ex-dividend on 22nd January 2026:

 

Next

 

 

UK 250 companies going ex-dividend on 22nd January 2026:

WH Smith

 

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