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Morning Report - 14 October 2021

Yesterday’s UK 100 Leaders	Price (p)	% Chg
BARRATT DEVELOPMENTS PLC	682.2	6.3%
OCADO GROUP PLC	1,717.0	4.1%
TAYLOR WIMPEY PLC	155.3	4.0%
AVEVA GROUP PLC	3,611.0	3.9%
ST JAMES’S PLACE PLC	1,481.5	3.8%

Yesterday’s UK 100 Laggards	Price (p)	% Chg
STANDARD CHARTERED PLC	477.8	-2.7%
BT GROUP PLC	141.4	-2.7%
INTL CONSOLIDATED AIRLINE-DI	171.6	-2.5%
INFORMA PLC	559.4	-2.4%
BARCLAYS PLC	192.9	-2.3%

Major World Indices	Price	% Chg	1 YEAR
UK 100 INDEX	7,142	0.2%	20.3%
DOW JONES INDUS. AVG	34,378	0.0%	20.6%
DAX INDEX	15,249	0.7%	17.1%
NIKKEI 225	28,551	1.5%	20.3%
S&P/ASX 200 INDEX	7,312	0.5%	18.3%

Commodities	Units	Price	% Chg
WTI Crude Oil (Nymex)	USD/bbl.	81.11	0.83%
Brent Crude (ICE)	USD/bbl.	83.90	0.87%
Gold Spot	USD/t oz.	1,792	0.0%
Copper (Comex)	USd/lb.	456	1.0%

The UK 100 is called to open +47 points today at 7188.

4 hours; 2 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +47 points today at 7188. The Uk Blue chip index looks set to shrug off inflation concerns and move higher this morning. Stocks in Asia were higher on Today even as China’s producer inflation for September surged 10.7% as compared with a year ago. The Shanghai Composite gained 0.06% while markets in Hong Kong are closed for a holiday. In Japan, the Nikkei jumped 1.35%. Stateside yesterday saw the S&P break a three-day losing streak as investors digested third-quarter earnings and insights into when the Fed might taper its asset-purchase program, the index closed 0.3% higher at 4,363.80. The Nasdaq closed up 0.7% to 14,571.64, also breaking a negative streak. The Dow Jones was flat at 34,377.81.

Company News & Broker Comments:

Company News:

Ashmore reports that Assets Under Management were $91.3bn on September 30th v $94.4bn on June 30th. They state the reason being net outflows of $1bn and negative investment performance of $2.1bn.

Dunelm reports that their Q1 gross margin was down by 10bps YoY but they expect their H1 margin to be “flat to slightly positive” on the year before. They back their “recently increased FY analyst consensus forecast.

Domino’s Pizza reports that Q3 system sales were up 9.9% YoY but they warn that VAT rate changes will impact reported systems sales growth in H2.

Hays reports that their Q1 net fees were up 41% on a like-for-like basis v prior year as employers ramp up hiring, stating there are clear signs of skill shortages and wage inflation especially at higher salary levels.

Legal & General sets L&G Capital goal of £500-600m operating profit from alternatives.

National Express expects FY profit to be in line with expectations.

Purplebricks CFO Andy Botha will leave his role on October 31st as Steve Long is appointed to be his replacement.

Broker Comments

Jefferies Downgrades Johnson Matthey to Underperform from Buy (6 Buys / 7 Holds / 1 Sell)

Reporting Today:

Ashmore

Dunelm Group

Hays

Rathbone Brothers

Reporting Tomorrow:

Hargreaves Lansdown

Jupiter Fund Management

In Focus Today:

Chinese Consumer Price Index

Chinese Producer Price Index

Japanese Industrial Production

US Initial Jobless Claims(

Fed’s Williams speech

Tomorrow’s Ex-Dividends:

FTSE 100:

WPP

Tesco

Spirax-Sarco Engineering

FTSE 250:

Close Brothers Group

NCC Group

Primary Health Properties

Howden Joinery Group

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