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Morning Report - 22 September 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
HARGREAVES LANSDOWN PLC 891.6 5.7%
PERSIMMON PLC 1,400.0 4.7%
BAE SYSTEMS PLC 805.0 4.3%
SCHRODERS PLC 445.0 4.0%
TAYLOR WIMPEY PLC 107.0 3.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
OCADO GROUP PLC 575.0 -5.2%
INTERCONTINENTAL HOTELS GROU 4489.0 -3.4%
INTL CONSOLIDATED AIRLINE-DI 104.8 -3.3%
WHITBREAD PLC 2560.0 -2.3%
ROLLS-ROYCE HOLDINGS PLC 74.3 -2.0%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,238 0.6% 3.7%
DOW JONES INDUS. AVG 30,184 -1.7% -11.0%
DAX INDEX 12,767 0.8% -16.8%
NIKKEI 225 27,313 -1.4% -7.9%
S&P/ASX 200 INDEX 6,700 -1.6% -8.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 83.35 -0.70%
Brent Crude (ICE) USD/bbl. 90.21 -0.45%
Gold Spot USD/t oz. 1,674 0.5%
Copper (Comex) USd/lb. 344 -1.7%
The UK 100 is called to open -64 points this morning at 7173.  

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -64 points this morning at 7173. The UK bluechip index is set to open lower this morning ahead of the Bank of England’s interest rate decision at 12pm and after the US Federal Reserve settled for another 0.75% rate hike overnight. The Federal Reserve said they “will keep at it” until inflation is well and truly tackled. Wall Street ended firmly in the red with the Dow closing -1.7%, S&P -1.7% and Nasdaq -1.8%. In Asia Shanghai closed -0.2% and Hong Kong -1.8%.

 

Company News & Broker Comments:

Company News:

AstraZeneca‘s lynparza has been approved in China for adult patients with ovarian cancer.
GlaxoSmithKline and Spero Therapeutics win license agreement for tebipenem Hbr for UTI treatment. GSK says Spero will receive $66m upfront and GSK are to buy $9m in shares of Spero stock.
Halma says good progress has been in made in H1 as FY23 guidance is unchanged.
JD Sports reports that their H1 FY23 pretax profit is down to £298.3m (2021: £364.8m profit) as they resume their interim dividend at 0.13p per share.
Playtech reports H1 pretax profit of 103.7m euros (2021: 278.1m euros profit) as they state that the “excellent” H1 performance has continued into H2 and they remain confident on outlook.
 
PZ Cussons report a FY pretax profit of £65.3m, down 8.7% from £71.5m YoY. They expect FY23 results to be in line with current consensus estimates.

 

Broker Comments:

 Berenberg Downgrades Aveva Group to Hold from Buy (5 Buys / 6 Holds / 1 Sell)

Reporting Today:

JD Sports Fashion

 

PZ Cussons

 

Playtech

 

Reporting Friday:

 

European Opportunities Trust

 

Smiths Group

 

In Focus Today:

BoJ Interest Rate Decision

 

BoJ Monetary Policy Statement

 

BoJ Press Conference

 

EU Economic Bulletin

 

Bank of England Minutes

 

BoE Asset Purchase Facility

 

BoE Interest Rate Decision

 

Monetary Policy Summary

 

US Initial Jobless Claims

 

EU Consumer Confidence

 

UK GfK Consumer Confidence

 

This Morning’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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