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Morning Report - 22 February 2021

Yesterday’s UK 100 Leaders Price (p) % Chg
ANTOFAGASTA PLC 1,838.0 7.2%
ROLLS-ROYCE HOLDINGS PLC 98.7 5.7%
NATWEST GROUP PLC 180.2 5.2%
INTL CONSOLIDATED AIRLINE-DI 165.8 5.1%
EVRAZ PLC 556.6 4.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
EXPERIAN PLC 2489.0 -3.5%
RECKITT BENCKISER GROUP PLC 6072.0 -3.3%
INTERTEK GROUP PLC 5694.0 -3.2%
ASTRAZENECA PLC 7226.0 -3.1%
RELX PLC 1760.5 -2.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,624 0.1% -10.5%
DOW JONES INDUS. AVG 31,494 0.0% 8.6%
DAX INDEX 13,993 0.8% 3.1%
NIKKEI 225 30,156 0.5% 28.9%
S&P/ASX 200 INDEX 6,781 -0.2% -5.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 59.96 1.22%
Brent Crude (ICE) USD/bbl. 63.74 1.32%
Gold Spot USD/t oz. 1,790 0.3%
Copper (Comex) USd/lb. 416 2.1%HBSC Holdings

InterContinental Hotels Group

 

UK 100 is called to open -40 points this morning at 6584.

1 Hour; 2 months

Click graph to enlarge

Markets Overview:

 

UK 100 is called to open -40 points this morning at 6584.  Calls for a negative open come as a stronger pound looks set to hit exporters and outweigh positive Covid news.  This on the day that it is expected the UK will begin easing coronavirus restrictions, with a focus on schools and family gatherings in Boris Johnson’s national address this evening, where he will outline his roadmap for the nation.  In the US, we could see further progress on the $1.9 trillion stimulus programme with the House set to vote on the bill by the end of the week.  Stocks in Asia were mostly lower on Monday as the one-year loan prime rate (LPR) in China was left unchanged at 3.85%, largely in line with expectations.  The Hang Seng index in Hong Kong was flat while the Shanghai Composite in China dipped 0.76% and in Japan, the Nikkei 225 gained 0.46%.

 

Company News & Broker Comments:

 

Company News:

AstraZeneca – announce the voluntary withdrawal of the Imfinzi indication in the US for previously treated adults with bladder cancer. The was made after consultation with the FDA. Imfinzi was given accelerated approval in US in 2017 on promising tumour response treatment, but did not meet post-marketing requirements. This withdrawal does not impact indication’s outside of US or other approved indications within US.

 

Mitchell’s & Butler report a plunge in sales as all sites have been forced to close under the latest coronovirus lockdown. They have launched a open offer to raise £351m. Total managed sales fell 69.8% compared with last year. The company’s liquidity position has deteriorated significantly, as a result of COVID-19.

 

Dechra Pharmaceuticals half year operating profit rises to £40.3m from £23.3m a year ago. They have also increased their dividend by 8% to 11.11p. Group revenue increased by 21.8% to £299.9m. The company has said trading remained robust in H2. Outlook remains positive and in line with their January trading update.

 

Anglo American provides a strategy update today that centre around four strategic priorities: Stimulate new markets and leverage new capabilities, to increase resilience of operations and enable value creation initiatives, maximise asset portfolio and be a leader in ESG. They have also said they are committed to the base dividend of 40% pay out of headline earnings.

 

 

Reporting Today:

 

Associated British Foods (ABF)

Dechra Pharmaceuticals

 

 

Reporting Tomorrow:

 

HBSC Holdings

InterContinental Hotels Group

 

In Focus Today:

 

 

PBoC Interest Rate Decision

UK Prime Minister Boris Johnson speech

German IFO – Business Climate

German IFO – Current Assessment

German IFO – Expectations

US Chicago Fed National Activity Index

 

This Week’s Ex Dividends:

 

UK 100:

 

Diageo

Land Securities Group

Unilever

AstraZeneca

Barclays

 

UK 250:

 

Witan Investment Trust

Redrow

LXI REIT

Plus500

 

 

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.


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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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