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Morning Report - 5 August 2022

Yesterday’s UK 100 Leaders	Price (p)	% Chg
ENTAIN PLC	1,303.0	5.0%
FLUTTER ENTERTAINMENT PLC-DI	8,694.0	4.0%
ANGLO AMERICAN PLC	2,866.0	3.2%
DECHRA PHARMACEUTICALS PLC	3,784.0	3.1%
GLENCORE PLC	459.8	3.1%

Yesterday’s UK 100 Laggards	Price (p)	% Chg
ROLLS-ROYCE HOLDINGS PLC	82.7	-9.0%
HIKMA PHARMACEUTICALS PLC	1650.5	-6.3%
MONDI PLC	1529.0	-5.0%
AIRTEL AFRICA PLC	149.1	-3.3%
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

Click graph to enlarge

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:

Diageo

Frasers Group

Hargreaves Lansdown

London Stock Exchange Group

Pets at Home Group

WPP

Reporting Monday:

PageGroup

In Focus Today:

Nonfarm Payrolls

Next Week’s Ex-Dividends:

FTSE 100:

Rio Tinto

Barclays

Ashtead Group

Shell

SEGRO

Pearson

Astrazeneca

Standard Chartered

Informa

Fresnillo

FTSE 250:

Jupiter Fund Management

Direct Line Insurance Group

Provident Financial

Man Group

Greencoat UK Wind

Renewables Infrastructure Group

Domino’s Pizza Group

Hiscox

Scottish American Investment Company

IMI

IP Group

Balanced Commercial Property Trust

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