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Morning Report - 5 August 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
ENTAIN PLC 1,303.0 5.0%
GLENCORE PLC 459.8 3.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
MONDI PLC 1529.0 -5.0%
BT GROUP PLC 156.2 -3.3%


Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,448 0.0% 4.6%
DOW JONES INDUS. AVG 32,727 -0.3% -5.9%
DAX INDEX 13,663 0.6% -12.9%
NIKKEI 225 27,932 0.7% 0.7%
S&P/ASX 200 INDEX 6,975 0.0% -7.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 88.02 -0.59%
Brent Crude (ICE) USD/bbl. 94.12 -2.75%
Gold Spot USD/t oz. 1,790 -0.1%
Copper (Comex) USd/lb. 348 -0.2%
The UK 100 is called to open +7 points this morning at 7455. 

1 hour; 20 Days

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Markets Overview:


The UK 100 is called to open +7 points this morning at 7455.  A positive start is expected this morning for the UK’s blue chip index, this comes on the back of yesterdays Bank of England base rate rise of 0.5%, the largest for 27 years.  It was a mixed session stateside yesterday ahead of todays Nonfarm jobs data.  The Dow Jones shed 85.68 points, or 0.26%, to ens at 32,726.82. The S&P also fell, albeit marginally, by 0.08% to close at 4,151.94 after hitting its highest level since June on Wednesday. The Nasdaq  increased 0.41% to 12,720.58, the highest close since early May.



Company News & Broker Comments:


Company News:

Flutter Entertainment completes the acquisition of Sisal in Italy after all regulatory OKs are received.
Hargreaves Lansdown report a fall in assets under management as investors moved away from riskier assets with key global markets buckling under rising geopolitical tensions and inflationary pressures. They reported a 9% drop in assets under administration to £123.8bn for the 12-month period ended June 30th and saw a 26% fall in their profit after tax to £269.2m.
London Stock Exchange update that costs and savings targets for integrating its $27bn acquisition of Refinitiv remain unchanged, and that they are launching a £750m share buy-back.
Pets at Home report a quarterly total group revenue increase of 7.1% to £404.7mThey see no change to sales and margin outlook for FY 2022.
Petrofac wins $200m contract with Sonatrach.
WPP have upgraded their FY net sales outlook as they expect robust spending by clients across many industries in the USA and Europe. They now expect like-for-like net sales to grow 6-7% in 2022, up from an already upgraded forecast of 5.5-6.5%. Net sales in H1 2022 jumped 12.5% to £5.5bn.

Broker Comments:

Bank of America Downgrades ConvaTec to Neutral from Buy (7 Buys / 3 Holds / 0 Sells)



Barclays Downgrades Hikma Pharmaceuticals to Equal Weight from Overweight (6 Buys / 2 Holds / 0 Sells)



Goldman Sachs Downgrades Next to Neutral from Buy (7 Buys / 11 Holds / 0 Sells)



Jefferies Downgrades Mediclinic to Hold from Buy (2 Buys / 3 Holds / 0 Sells)



RPT/Jefferies Downgrades Go-Ahead Group to Hold from Buy (2 Buys / 5 Holds / 0 Sells)


Reporting Today:



Frasers Group


Hargreaves Lansdown


London Stock Exchange Group


Pets at Home Group





Reporting Monday:




In Focus Today:

Nonfarm Payrolls



Next Week’s Ex-Dividends:


FTSE 100:

Rio Tinto




Ashtead Group












Standard Chartered






FTSE 250:

Jupiter Fund Management


Direct Line Insurance Group


Provident Financial


Man Group


Greencoat UK Wind


Renewables Infrastructure Group


Domino’s Pizza Group




Scottish American Investment Company




IP Group


Balanced Commercial Property Trust

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.

Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

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since signing up for Accendo I have had two traders, Mark and Sam. I have found both of these to be very informative about how CFD's work and they have made it very easy for me. Since working with Sam (last four months) my trading knowledge has improved and I can make more informative decisions about which Company's to invest with. Keep up the good work Sam.

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I have been trading with Accendo Markets and James Abbott my account manager for coming on 5 years now, James Abbott the senior trader of Accendo Markets provides me with up to minute information when I need it and find him very easy and professional to deal with. Whenever I need to trade or am not sure about anything James is always their to help with any queries I may have. The Accendo Platform I find very easy to use and navigate although it has been slightly changed over the years but definitely for the better. Personal when I do trade 90% of the time, I rather telephone call to place my trade dealings and if James is not there to take my call I find others at Accendo like Sam, Lee take my trades and are. All in all everyone at Accendo Markets are amazing to deal with and my relationship with Accendo is just as I like it. Peter Petrou

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