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Morning Report - 1 August 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
NATWEST GROUP PLC 248.6 8.1%
OCADO GROUP PLC 839.4 6.8%
FRESNILLO PLC 737.4 5.7%
AVEVA GROUP PLC 2,357.0 5.7%
CRODA INTERNATIONAL PLC 7,482.0 4.8%
Yesterday’s UK 100 Laggards Price (p) % Chg
BRITISH AMERICAN TOBACCO PLC 3220.5 -4.5%
AVAST PLC 465.0 -4.1%
INTL CONSOLIDATED AIRLINE-DI 118.7 -2.6%
COMPASS GROUP PLC 1914.5 -2.0%
INTERTEK GROUP PLC 4376.0 -2.0%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,423 1.1% 5.6%
DOW JONES INDUS. AVG 32,845 1.0% -6.0%
DAX INDEX 13,484 1.5% -13.3%
NIKKEI 225 27,802 -0.1% 1.9%
S&P/ASX 200 INDEX 6,945 0.8% -6.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 98.62 2.28%
Brent Crude (ICE) USD/bbl. 103.97 2.10%
Gold Spot USD/t oz. 1,766 0.6%
Copper (Comex) USd/lb. 357 2.9%

 

The UK 100 is called to open -6 points this morning at 7417. 

30 minutes; 16 Days

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -6 points this morning at 7417. The UK 100 looks set to pause for breath, and open marginally lower to kick off the new trading week, this comes after a strong showing last week for the Bluechip index which saw 167 points added or 2.29% on the week.  It was another positive session for Wall Street on Friday, all three of the major averages rose to complete a winning week and their best month of 2022. The Dow Jones rose by 315.50 points, or nearly 1%, to end out the week at 32,845.13. The S&P jumped 1.4% to trade at 4,130.29, and the Nasdaq Composite surged 1.9% to end the day at 12,390.69.  The Dow rose to a 6.7% gain for July. The S&P added 9.1% for the month. The Nasdaq was however the stand out performer, adding 12.4%.  These were the biggest monthly gains for all three indexes since 2020.

 

 

Company News & Broker Comments:

 

Company News:

Cranswick FY outlook is in line with board’s expectations.
 
Galliford Try wins £56m in UK public sector contracts.
 
HSBC reported a 15% drop in H1 profit as expected credit losses more than offset the impact from rising net interest income at Europe’s biggest bank. They reported a pretax profit of $9.2bn for H1 ending June 30th, down from $10.84bn a year ago. They are aiming to restore their dividend to pre-covid levels as soon as possible.
 
JD Sports exchanges contracts to sell Footasylum for £37.5m to Aurelius.
Pearson have reiterated their FY profit outlook and said that their new integrated structure was helping it to save costs and grow the top line. They posted H1 underlying sales growth of +6% and adjusted operating profit +22%.
Senior reported a lower H1 profit, hurt by supply chain issues and rising costs. Their profit before tax for H1 came in at £11.1m (2021: £22.3m profit).

Broker Comments:

Bank of America Downgrades Standard Chartered to Neutral from Buy (12 Buys / 4 Holds / 1 Sell)
Bernstein Downgrades Vodafone to Market-perform from Outperform (10 Buys / 8 Holds / 1 Sell)
 
Credit Suisse Downgrades Aviva to Neutral from Outperform (6 Buys / 7 Holds / 1 Sell)
HSBC Downgrades Jet2 to Hold from Buy (9 Buys / 1 Hold / 0 Sells)
JP Morgan Upgrades Anglo American to Overweight from Neutral (7 Buys / 10 Holds / 1 Sell)

 

Reporting Today:

Ascential

 

Cranswick

 

HSBC Holdings

 

Pearson

 

Spectris

 

 

 

Reporting Tuesday:

 

BP

 

Capital & Counties Properties

 

Coats

 

Direct Line Insurance

 

Domino’s Pizza Group

 

Fresnillo

 

Greggs

 

Man Group

 

Rotork

 

Sage Group

 

Travis Perkins

 

Virgin Money

 

 

 

In Focus Today:

 

Chinese NBS Manufacturing PMI

 

Chinese Non-Manufacturing PMI

 

Chinese Caixin Manufacturing PMI

 

German Retail Sales

 

German S&P Global/BME Manufacturing PMI

 

UK S&P Global/CIPS Manufacturing PMI

 

EU Unemployment Rate

 

US S&P Global Manufacturing PMI

 

US ISM Manufacturing PMI

 

This Week’s Ex-Dividends:

 

FTSE 100:

BT Group

 

Lloyds Banking Group

 

Schroders

 

Reckitt Benckiser Group

 

Unilever

 

RELX

 

Rentokil Initial

 

FTSE 250:

Currys

 

Vesuvius

 

Tyman

 

GCP Infrastructure Investments

 

City of London Investment Trust

 

Games Workshop Group

 

Aberforth Smaller Companies Trust

 

Lancashire Holdings

 

Inchcape

 

Schroder Oriental Income Fund

 

Mediclinic International

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