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Morning Report - 5 December 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
Associated British Foods PLC 1,667.5 5.0%
Rolls-Royce Holdings PLC 90.3 3.8%
Hargreaves Lansdown PLC 871.8 2.3%
Antofagasta PLC 1,434.5 2.1%
Natwest Group PLC 261.9 1.8%
Yesterday’s UK 100 Laggards Price (p) % Chg
Intermediate Capital Group PLC 1243.0 -2.0%
Harbour Energy PLC 312.6 -1.8%
BP PLC 480.9 -1.8%
Melrose Industries PLC 128.5 -1.5%
Ashtead Group PLC 5012.0 -1.5%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,556 0.0% 6.1%
DOW JONES INDUS. AVG 34,430 0.1% -0.4%
DAX INDEX 14,529 0.3% -4.2%
NIKKEI 225 27,820 0.2% -0.8%
S&P/ASX 200 INDEX 7,326 0.3% 1.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 80.32 0.43%
Brent Crude (ICE) USD/bbl. 85.90 0.39%
Gold Spot USD/t oz. 1,800 0.2%
Copper (Comex) USd/lb. 387 0.5%
The UK 100 is called to open +5 points this morning at 7561. 

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open +5 points this morning at 7561.    The UK 100 looks set to open marginally higher this morning ahead of a raft of PMI data due out across Europe.   Some support may be provided by news over the weekend that more cities in China are relaxing covid rules despite rising infections.  Elsewhere, on Sunday, the Organization of the Petroleum Exporting Countries, led by Saudi Arabia and Russia, agreed to maintain their current output levels.

 

Company News & Broker Comments:

Company News:

Glencore reaches an agreement with the Democratic of Congo over past conduct, with Glencore paying $180m for claims of alleged corruption by the company between 2007-2018.

 

 

National Express makes interim CFO James Stamp their permanent CFO.

 

 

National Grid says conditions of sale of 60% equity to a consortium have now been met, which is expected to occur on January 31st 2023.

 

 

Vodafone CEO Nick Read is to step down on Dec 31st as they appoint Margherita Della Valle as interim CEO.

 

 

Broker Comments:

Bank of America Downgrades GlaxoSmithKline to Underperform from Neutral (8 Buys / 13 Holds / 2 Sells)

 

 

Bernstein Downgrades Unilever to Market-perform from Outperform (6 Buys / 8 Holds / 1 Sell)

 

 

Jefferies Downgrades Persimmon to Hold from Buy (5 Buys / 8 Holds / 2 Sells)

 

 

Jefferies Downgrades Kingspan to Underperform from Hold (2 Buys / 0 Holds / 0 Sells)

 

 

Jefferies Upgrades Bellway to Buy from Hold (11 Buys / 5 Holds / 0 Sells)

Reporting Today:

None

 

Reporting Tuesday:

Ashtead

SSP Group

Victrex

 

In Focus Today:

Eurogroup Meeting

 

Chinese Caixin Services PMI

 

German S&P Global/BME Composite PMI

 

EU S&P Global Composite PMI

 

UK S&P Global/CIPS Composite PMI

 

EU Retail Sales

 

US S&P Global Composite PMI

 

US Factory Orders

 

US ISM Services PMI

 

Japanese Overall Household Spending

 

This Week’s Ex-Dividends:

UK 100 companies going  ex-dividend on 8th December 2022:

 

 

Intermediate Capital Group

 

JD Sports Fashion

UK 250 companies going  ex-dividend on 8th December 2022:

 

 

Sirius Real Estate

 

Investec

 

Liontrust Asset Management

 

Energean

 

SDCL Energy Efficiency Income Trust

 

Assura

 

Shaftesbury

 

Temple Bar Investment Trust

 

Johnson Matthey

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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.


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