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Morning Report - 23 June 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
JD SPORTS FASHION PLC 113.3 6.0%
CENTRICA PLC 83.3 4.3%
NATWEST GROUP PLC 227.9 3.0%
AVAST PLC 521.8 2.8%
ADMIRAL GROUP PLC 2,158.0 2.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
ANTOFAGASTA PLC 1250.0 -6.0%
GLENCORE PLC 454.3 -5.9%
OCADO GROUP PLC 814.4 -4.8%
ROLLS-ROYCE HOLDINGS PLC 86.6 -4.7%
ANGLO AMERICAN PLC 3215.5 -4.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,092 -0.8% -0.4%
DOW JONES INDUS. AVG 30,605 0.3% -9.8%
DAX INDEX 13,157 -1.0% -16.8%
NIKKEI 225 26,150 -0.4% -9.4%
S&P/ASX 200 INDEX 6,509 -0.2% -10.8%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 104.49 -4.59%
Brent Crude (ICE) USD/bbl. 109.98 -4.07%
Gold Spot USD/t oz. 1,841 0.4%
Copper (Comex) USd/lb. 394 -2.8%

 

The UK 100 is called to open -20 points this morning at 7065. 

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -20 points this morning at 7065.  The UK 100 looks set to open modestly lower this morning, after comments last night from Fed Chair Jerome Powell, warning that a recession was a real possibility, Powell also indicated that fighting inflation was also critical and that rising prices had to be halted.  On Wall Street yesterday, Stocks fell slightly in choppy trading as markets struggled to sustain a rebound from earlier in the day.  The Dow Jones dropped 47.12 points, or 0.15%, to 30,483.13, slipping in the final hour of trading. The S&P dipped 0.13% to 3,759.89. The Nasdaq fell 0.15% to 11,053.08.

 

 

Company News & Broker Comments:

 

Company News:

888 Holdings expects their H1 revenue to be between £330-335m, broadly in line with board expectations.

 

 

Boohoo appoints Shaun McCade as their new CFO, succeeding Neil Catto “later this year”. Shaun McCabe will step down from his current role as CFO at Trainline, effective September 15th.

 

 

Galliford Try wins place on £1bn Midlands Highways Alliance Plus framework. The framework will run for the next 4 years, then will be extendable for another 4 years.

 

 

Grainger buys £128m scheme from Redcliff MCC in Bristol.

Broker Comments:

Deutsche Bank Downgrades Intertek to Sell from Hold (4 Buys / 8 Holds / 1 Sell)

 

 

Deutsche Bank Upgrades Rentokil Initial to Buy from Hold (6 Buys / 5 Holds / 1 Sell)

 

 

HSBC Downgrades FirstGroup to Hold from Buy (5 Buys / 3 Holds / 0 Sells)

 

 

Morgan Stanley Downgrades Rio Tinto to Equal weight from Overweight (6 Buys / 9 Holds / 2 Sells)

 

Reporting Today:

 

Serco Group

 

Reporting Tomorrow:

 

None

 

In Focus Today:

 

EU leaders summit

 

German S&P Global/BME Composite PMI

 

EU S&P Global Composite PMI

 

UK S&P Global/CIPS Services PMI

 

US Initial Jobless Claims

 

US S&P Global Composite PMI

 

US Bank Stress Test Info

 

UK GfK Consumer Confidence

 

Japanese National Consumer Price Index

 

 

Today’s Ex-Dividends:

 

FTSE 100:

Airtel Africa

 

Experian

 

British Land Company

 

United Utilities Group

 

FTSE 250:

Mercantile Investment Trust

 

TR Property Investment Trust

 

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