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Morning Report - 20 September 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
OCADO GROUP PLC 671.0 3.2%
F&C INVESTMENT TRUST PLC 894.0 2.9%
M&G PLC 201.2 2.0%
BARRATT DEVELOPMENTS PLC 429.0 1.1%
AVEVA GROUP PLC 3,052.0 0.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
INTERCONTINENTAL HOTELS GROU 4670.0 -4.7%
DECHRA PHARMACEUTICALS PLC 2950.0 -4.5%
DS SMITH PLC 265.5 -3.3%
SPIRAX-SARCO ENGINEERING PLC 10070.0 -3.0%
SCHRODERS PLC 2518.0 -2.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,237 -0.6% 3.9%
DOW JONES INDUS. AVG 31,020 0.6% -10.3%
DAX INDEX 12,803 0.5% -17.4%
NIKKEI 225 27,568 -1.1% -9.6%
S&P/ASX 200 INDEX 6,720 -0.3% -7.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 85.53 0.49%
Brent Crude (ICE) USD/bbl. 91.85 0.55%
Gold Spot USD/t oz. 1,676 0.0%
Copper (Comex) USd/lb. 352 0.2%
The UK 100 is called to open +25 points this morning at 7277.  

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +25 points this morning at 7277. UK 100 is set to open higher on Tuesday, as markets in London return to action following a bank holiday for the state funeral of Queen Elizabeth II. Markets this week will be focused on major central bank decisions from the US Federal Reserve on Wednesday and Bank of England on Thursday. Wall Street closed higher yesterday with the Dow +0.6%, S&P +0.7% and Nasdaq +0.8%. In Asia Shanghai +0.1%, Hang Seng +1.1%, Nikkei +0.4% and Tokyo was closed for a holiday on Monday.

 

Company News & Broker Comments:

Company News:

 

AstraZeneca‘s Evusheld is approved in the EU for COVID-19 treatment.
 
Haleon‘s HY pretax profit rises to £864m from £736m a year ago. They have reiterated all medium-term guidance and an annual organic revenue growth of 4-6%. They state that they are well positioned to deal with macroeconomy and rising inflation.
Kingfisher reports a H1 pretax profit of £474m, down 30% from £677m YoY as they hold their interim dividend at 3.8p. They state that H1 performance was in line with expectations. They say that Q3 like-for-like sales to Sept 17th are down 0.7% on the year but up 15% on 2019.
Moonpig has reiterated their FY guidance as they perform in line with expectations. They expect business to return to pre-COVID seasonality as they expect between 58-60% of their revenue to arise in H2 FY22.

 

Broker Comments:

Credit Suisse Upgrades Pennon Group to Neutral from Underperform (3 Buys / 5 Holds / 1 Sell)
JP Morgan Upgrades SSE to Overweight from Neutral (8 Buys / 6 Holds / 0 Sells)
ODDO BHF Upgrades Wizz Air to Neutral from Underperform (7 Buys / 8 Holds / 2 Sells)
 
RPT / HSBC Downgrades Ocado to Reduce from Hold (8 Buys / 8 Holds / 2 Sells)

Reporting Today:

Kingfisher

 

Moonpig

 

Reporting Wednesday:

 

Murray Income Trust

 

Petershill Partners

In Focus Today:

PBoC Interest Rate Decision

 

RBA Meeting Minutes

 

German Producer Price Index

 

US Building Permits

 

US Housing Starts

 

BoC Consumer Price Index Core

 

This Week’s Ex-Dividends:

UK 100 companies going  ex-dividend on 22nd September 2022:

 

Hargreaves Lansdown

 

UK 250 companies going  ex-dividend on 22nd September 2022:

 

Redrow

 

IG Group Holdings

 

Crest Nicholson Holdings

 

Essentra

 

Fidelity European Trust

 

abrdn Private Equity Opportunities Trust

 

HgCapital Trust

 

JTC

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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


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