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Morning Report - 6 December 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
Prudential PLC 1,085.5 5.3%
Haleon PLC 295.0 1.2%
Severn Trent PLC 2,759.0 0.9%
Auto Trader Group PLC 580.0 0.8%
Astrazeneca PLC 11,260.0 0.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Hargreaves Lansdown PLC 854.4 -2.0%
M&G PLC 186.8 -2.0%
Burberry Group PLC 2124.0 -1.9%
Persimmon PLC 1276.5 -1.5%
St. James’s Place PLC 1168.0 -1.4%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,568 0.2% 4.6%
DOW JONES INDUS. AVG 33,947 -1.4% -3.6%
DAX INDEX 14,448 -0.6% -6.1%
NIKKEI 225 27,886 0.2% -0.2%
S&P/ASX 200 INDEX 7,291 -0.5% 0.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 77.64 0.92%
Brent Crude (ICE) USD/bbl. 83.51 1.00%
Gold Spot USD/t oz. 1,771 0.1%
Copper (Comex) USd/lb. 381 0.3%
The UK 100 is called to open -4 points this morning at 7563.

4 hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -4 points this morning at 7563.   The UK 100 looks set to open marginally lower this morning, taking lead from yesterdays session stateside, heavy falls in the US came after stronger-than-expected ISM services data that prompted fears about the US Federal Reserve’s rate hike trajectory again.  At the close the Dow Jones was down 483 points, or 1.4%, to 33,947, the S&P slipped 73 points, or 1.8%, to 3,999 and the Nasdaq declined 222 points, or 2%, to 11,240.

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Company News & Broker Comments:

Company News:

Ashtead reports a H1 pretax profit of $1.19bn, up 35% from $889.9m YoY. They have increased their H1 interim dividend by 20% to 15 cents, as they expect FY results to be above previous expectations.

 

 

Marston’s reports a FY22 pretax profit of £163.4m (2021: £171.1m loss). They state they’re well positioned to meet challenging market conditions.

 

 

Phoenix expects £1.2bn of incremental new business long-term cash generation in 2022, through organic growth. They are on track for 2022 cash generation of top end of £1.3-1.4bn range.

 

 

SSP report a FY22 pretax profit of £25.2m (2021: £411.2m loss).

 

 

Victrex reports a FY22 pretax profit of £95m (2021: £91.7m profit) as they remain mindful of uncertain macroeconomic outlook for 2023.

 

 

Broker Comments:

Credit Suisse Downgrades Mondi to Underperform from Outperform (6 Buys / 2 Holds / 0 Sells)

 

 

JP Morgan Downgrades Close Brothers to Underweight from Neutral (4 Buys / 4 Holds / 0 Sells)

 

 

JP Morgan Downgrades Lloyds to Neutral from Overweight (11 Buys / 4 Holds / 1 Sell)

 

 

JP Morgan Downgrades United Utilities to Neutral from Overweight (2 Buys / 8 Holds / 0 Sells)

 

 

JP Morgan Upgrades Barclays to Overweight from Neutral (9 Buys / 9 Holds / 0 Sells)

Reporting Today:

Ashtead

 

SSP Group

 

Victrex

 

Reporting Tuesday:

Moonpig Group

 

Redde Northgate

 

Monks Investment Trust

 

Paragon Banking Group

 

Tritax Eurobox

 

In Focus Today:

UK BRC Like-For-Like Retail Sales

 

EcoFin Meeting

 

German Factory Orders s.a.

 

US Goods and Services Trade Balance

 

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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