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Morning Report - 30 March 2021

Yesterday’s UK100 Leaders Price (p) % Chg
RENISHAW PLC 6,250.0 4.2%
RECKITT BENCKISER GROUP PLC 6,564.0 3.0%
BT GROUP PLC 152.4 2.9%
UNITED UTILITIES GROUP PLC 926.8 2.1%
SEVERN TRENT PLC 2,342.0 1.9%
Yesterday’s UK 100 Laggards Price (p) % Chg
FLUTTER ENTERTAINMENT PLC 15935.0 -3.3%
PERSIMMON PLC 2927.0 -3.1%
SMITHS GROUP PLC 1512.5 -3.0%
ENTAIN PLC 1510.0 -2.9%
BARRATT DEVELOPMENTS PLC 749.6 -2.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 6,736 -0.1% 21.1%
DOW JONES INDUS. AVG 33,171 0.3% 48.6%
DAX INDEX 14,818 0.5% 53.8%
NIKKEI 225 29,433 0.2% 54.0%
S&P/ASX 200 INDEX 6,738 -0.9% 30.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 61.45 -0.18%
Brent Crude (ICE) USD/bbl. 64.94 -0.06%
Gold Spot USD/t oz. 1,707 -0.3%
Copper (Comex) USd/lb. 403 0.0%
UK 100 is called to open +35 points this morning at 6771.

1 Day; 8 Months

Click graph to enlarge

Markets Overview:

 

UK 100 is called to open +35 points this morning at 6771.   Calls for positive open this morning come as the fallout from Archegos fund blowup seem to be easeing.  It was a varied session in the US yesterday, which saw the Dow Jones close at new record highs, climbing by 0.3% to 33,171.37, this came ahead of confirmation of President Biden’s infrastructure package tomorrow.  Meanwhile, rising US 10-year bond yields hit a fresh one-year high which in turn pulled back the S&P and Nasdaq, which fell by 0.08% and 0.6% respectively.  The mixed sentiment continued in Asia this morning, Hong Kong’s Hang Seng index gained 1.04% and the Shanghai Composite in China rose 0.42%.  However in Japan, the Nikkei 225 fell 0.08%.

 

Company News & Broker Comments:

 

 

Company News:

AG Barr reports that their FY21 pretax profit was down 31% to £260m and they are committed to plans to recommence dividends in FY22.

 

Imperial Brands reports a good start to the year with trading in line with expectations. They expect low-mid single digit organic adjusted operating profit rise with H1 net revenue to grow by at least 1% on strong pricing in tobacco. They expect H1 adjusted operating profit to be £1.47bn (2020: £1.46bn).

 

Royal Mail says trading remains broadly in line with expectations as they expect FY21 adjusted operating profit to be around £700m. They intend to pay a one-off final dividend of 10p for FY21, to be paid in September.

 

SSE intends to recommend FY dividend of 80p plus RPI for FY21 as they expect net debt to be £9bn on March 31st.

 

Broker Comments:

Berenberg Upgrades Ryanair to Buy from Hold (2 Buys / 0 Holds / 1 Sell)

 

Bernstein Upgrades BAE Systems to Outperform from Market Perform (8 Buys / 6 Holds / 1 Sell)

 

Citigroup Upgrades Victrex to Neutral from Sell (3 Buys / 9 Holds / 4 Sells)

 

JP Morgan Downgrades 888 Holdings to Neutral from Overweight (6 Buys / 1 Hold / 0 Sells)

 

RBC Downgrades Fevertree Drinks to Sector Perform from Outperform (6 Buys / 4 Holds / 2 Sells)

 

 

 

Reporting Today:

 

SSE

Pennon Group

 

 

Reporting Tomorrow:

 

None

 

In Focus Today:

 

German Harmonized Index of Consumer Prices

EU Consumer Confidence

EU Business Climate

US Housing Price Index

US Consumer Confidence

S&P/Case-Shiller Home Price Indices

 

 

This Week’s Ex Dividends:

 

UK 100:

 

Phoenix Group Holdings

Taylor Wimpey

Smith & Nephew

Melrose Industries

 

UK 250:

 

Hammerson

Murray International Trust

ContourGlobal

ConvaTec Group

IMI

Primary Health Properties

Chemring Group

Finsbury Growth & Income Trust

RIT Capital Partners

 

 

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