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Morning Report - 21 September 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
LLOYDS BANKING GROUP PLC 49.0 2.5%
HALEON PLC 265.5 2.3%
INTL CONSOLIDATED AIRLINE-DI 108.3 2.2%
HALMA PLC 2,035.0 1.8%
F&C INVESTMENT TRUST PLC 908.0 1.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
OCADO GROUP PLC 606.4 -9.6%
PERSIMMON PLC 1337.0 -6.5%
BARRATT DEVELOPMENTS PLC 404.8 -5.6%
INTERMEDIATE CAPITAL GROUP 1146.5 -5.4%
ADMIRAL GROUP PLC 2152.0 -5.3%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,193 -0.6% 3.3%
DOW JONES INDUS. AVG 30,575 -1.4% -10.0%
DAX INDEX 12,671 -1.0% -16.3%
NIKKEI 225 27,688 0.4% -9.2%
S&P/ASX 200 INDEX 6,806 1.3% -6.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 84.45 -1.49%
Brent Crude (ICE) USD/bbl. 90.59 -1.53%
Gold Spot USD/t oz. 1,665 -0.7%
Copper (Comex) USd/lb. 350 -0.5%
The UK 100 is called to open -15 points this morning at 7172.  

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -15 points this morning at 7172. The UK bluechip index is set to open lower on Wednesday ahead of the US Federal Reserve’s interest rate decision later today at 7pm and the Bank of England’s interest rate decision at 12pm tomorrow. The Dow closed lower by 1%, S&P -1.1% and Nasdaq -1%. In Asia the Nikkei -1.2%, Shanghai -0.2% and Hong Kong -1.3%.

Company News & Broker Comments:

Company News:

AstraZeneca says Tezspire has been approved in the EU as a treatment for severe asthma.
Galliford Try report a pretax profit of £19.1m, +68% from £11.4m YoY as they increase their total dividend to 8p. They are “confident in the future” as they look to deliver “controlled growth”.
Games Workshop report that the 3 months trading to August 28th was in line with expectations.
 
Land Securities says £20.8m of rent has been signed or in solicitors’ hands since April 1st.
 
S4 Capital has reported a fall in its interim core earnings as the company’s rapid hiring hit its cost base. Their core earnings for H1 fell 12.4% to £30.1m.

 

Broker Comments:

Citigroup Downgrades Flutter to Neutral from Buy (15 Buys / 2 Holds / 0 Sells)
JP Morgan Downgrades Crest Nicholson to Underweight from Neutral (6 Buys / 4 Holds / 0 Sells)
 
JP Morgan Downgrades Redrow to Neutral from Overweight (11 Buys / 3 Holds / 0 Sells)
 
JP Morgan Downgrades Vistry to Underweight from Neutral (8 Buys / 5 Holds / 0 Sells)

Reporting Today:

Murray Income Trust

 

Petershill Partners

 

Reporting Thursday:

 

JD Sports Fashion

 

PZ Cussons

 

Playtech

 

In Focus Today:

German 10-y Bond Auction

 

Fed Interest Rate Decision

 

Fed’s Monetary Policy Statement

 

FOMC Economic Projections

 

FOMC Press Conference

 

Tomorrow’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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