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Morning Report - 13 January 2022

Yesterday’s UK 100 Leaders	Price (p)	% Chg
ANTOFAGASTA PLC	1,442.5	7.5%
BHP GROUP PLC	2,375.0	4.5%
ANGLO AMERICAN PLC	3,364.5	3.9%
GLENCORE PLC	401.3	3.5%
BP PLC	381.5	3.2%

Yesterday’s UK 100 Laggards	Price (p)	% Chg
TAYLOR WIMPEY PLC	161.8	-4.8%
SMITH & NEPHEW PLC	1277.5	-4.6%
BARRATT DEVELOPMENTS PLC	685.0	-3.4%
JD SPORTS FASHION PLC	211.5	-3.3%
OCADO GROUP PLC	1527.0	-2.9%

Major World Indices	Price	% Chg	1 YEAR
UK 100 INDEX	7,552	0.8%	12.0%
DOW JONES INDUS. AVG	36,290	0.1%	16.8%
DAX INDEX	16,010	0.4%	14.9%
NIKKEI 225	28,489	-1.0%	0.1%
S&P/ASX 200 INDEX	7,474	0.5%	11.8%

Commodities	Units	Price	% Chg
WTI Crude Oil (Nymex)	USD/bbl.	82.23	-0.50%
Brent Crude (ICE)	USD/bbl.	84.25	-0.50%
Gold Spot	USD/t oz.	1,826	0.0%
Copper (Comex)	USd/lb.	453	-1.1%

The UK 100 is called to open -20 points today at 7530.

1 Day; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -20 points today at 7530. The UK 100 look set to open marginally lower today as it consolidates yesterdays strong gains. Global markets were pulled up on Wednesday by the major US benchmarks, The Dow Jones jumped about 38 points and the S&P added 0.3%. The Nasdaq rose for the third straight day, climbing 0.2%, despite US inflation hitting 40 year highs. Asian markets this morning struggled for traction, China’s Shanghai Composite fell 1.01% while Hong Kong’s Hang Seng index slipped 0.10%. The Nikkei in Japan tumbled 0.99% and South Korea’s Kospi dropped 0.36%.

Company News & Broker Comments:

Company News:

ASOS says FY revenue and profit guidance is unchanged, but they do note uncertainty due to Omicron in the short-term.

AstraZeneca says Vaxzevira data shows increased antibody response to Omicron.

Card Factory says FY trading is ahead of expectations, notes recovery from April.

Countryside properties says CEO Iain McPherson is to step down with immediate effect.

Dechra Pharma says outlook for the FY is “positive” and in line with expectations.

Hays reports that their FY operating profit is to be around £200m, ahead of consensus forecasts.

John Wood Group says their 2021 results are in line with expectations for revenue and adjusted EBITDA.

Marks & Spencer nudges up its profit outlook after they reported a strong Christmas performance, particularly in food, where it outperformed the market. They now expect FY profit before tax and adjusted items to be at least £500m. Food sales increased 12.4% against its pre-pandemic performance two years ago in the 13 weeks to Jan 1st. Clothing and home sales rose 3.2% on the same basis.

Mitchells & Butlers says the year has started well but the emergence of Omicron has dented trade.

Persimmon names Aviva CFO Jason Windsor as their new CFO, to join in the summer. They also stated demand for new homes stayed strong as they built more houses in 2021 than the previous year, helped by government support measures and low mortgage rates.

Tesco have raised their profit outlook for the second time in four months as it reported a rise in Christmas sales despite a tough comparative with 2020 when spending was boosted by a COVID-19 lockdown. L-F-L sales in the UK rose 0.2% YoY in Q3 and were up 0.3% over the six weeks to Jan 8th. They have forecast a FY21-22 retail operating “slightly above” the top end of its previous £2.5-2.6bn range.

Broker Comments

No new broker comments

Reporting Today:

Dunelm

Marks & Spencer Group

Safestore Holdings

Wood Group (John)

Reporting Tomorrow:

Experian

In Focus Today:

Chinese Trade Balance

EU Economic Bulletin

US Initial Jobless Claims

US Producer Price Index ex Food & Energy

Today’s Ex-Dividends:

FTSE 100:

SSE

Sage Group

Ashtead Group

FTSE 250:

Primary Health Properties

Shaftesbury

Dr. Martens

Future

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