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Morning Report - 14 September 2021

Yesterday’s UK 100 Leaders	Price (p)	% Chg
ROYAL MAIL PLC	487.4	3.0%
LLOYDS BANKING GROUP PLC	43.8	2.8%
PERSHING SQUARE HOLDINGS LTD	2,580.0	2.6%
NATIONAL GRID PLC	959.7	2.5%
ROLLS-ROYCE HOLDINGS PLC	111.9	2.5%

Yesterday’s UK 100 Laggards	Price (p)	% Chg
AUTO TRADER GROUP PLC	622.4	-3.1%
BURBERRY GROUP PLC	1875.0	-2.6%
ASSOCIATED BRITISH FOODS PLC	1923.5	-2.4%
SCOTTISH MORTGAGE INV TR PLC	1368.0	-2.3%
AVEVA GROUP PLC	3956.0	-2.0%

Major World Indices	Price	% Chg	1 YEAR
UK 100 INDEX	7,068	0.6%	17.2%
DOW JONES INDUS. AVG	34,870	0.8%	26.0%
DAX INDEX	15,701	0.6%	18.9%
NIKKEI 225	30,447	0.2%	29.2%
S&P/ASX 200 INDEX	7,425	0.3%	25.9%

Commodities	Units	Price	% Chg
WTI Crude Oil (Nymex)	USD/bbl.	70.45	1.05%
Brent Crude (ICE)	USD/bbl.	73.67	1.03%
Gold Spot	USD/t oz.	1,794	0.0%
Copper (Comex)	USd/lb.	437	-1.9%

The UK 100 is called to open - 9 today at 7059.

1 day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -9 today at 7059. A mainly flat start is expected today for the UK’s Blue chip index, this comes on the back of a mostly positive session in the US yesterday, which saw the Dow Jones and S&P 500 gain 0.8% and 0.2% respectively, the tech-led Nasdaq however slipped 0.1%. Stocks were also mixed in Asia this morning, China’s Shanghai Composite slipped 0.54% and Hong Kong’s Hang Seng index fell 0.20%. In Japan however, the Nikkei gained 0.62%

Company News & Broker Comments:

Company News:

JD Sports reported today that it had a surge in first-half earnings on increased demand for sneakers and sportswear. The easing of lockdowns has massively eased this. The Co. withheld its interim dividend but had hinted instead of a much “larger full year dividend”. Pre-tax profit rose to £364.6m up from £41.5m a year earlier.

Morrisons bidder CD&R has said it has reached an agreement with the pension trustees of the Co. to provide additional security and support to the schemes, as it seeks to clinch the deal ahead other bidders. Morrisons had agreed a £7bn odder from CD&R in August but a rival bid led by Softbank owned Fortress investment Group could still trump the bid.

Ocado Retail said that it reported a 10.6% fall in revenue in its latest quarter, hurt by a fire at its warehouse in Erith, Kent, which disrupted operations. The JV between Ocado and M&S said revenue was £517.5m in Q3 v £578.8m a year earlier. Revenue had grown 19.8% in Q1.

Made.com flagged a hit to its first half gross margin from higher shipping costs and warned of a delay in deliveries. Its reported pre-tax loss narrowed to £10.1m in the first six months from a loss of £15.2m a year earlier.

Bunzl are to acquire US based safety business and healthcare distributor McCue in Australia and Singapore.

Broker Comments

No New Broker comments

Reporting Today:

JD Sports Fashion

Made.com

STM Group

Petra Diamonds

MJ Gleeson

Reporting Tomorrow:

Pendragon

Restaurant Group

Redrow

In Focus Today:

UK ILO Unemployment Rate

US Consumer Price Index ex Food & Energy

Japanese Industrial Production

This Week’s Ex-Dividends:

FTSE 100:

Intertek

FTSE 250:

Dunelm Group

International Public Partnerships

888 Holdings

Serco Group

Unite Group

HgCapital Trust

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