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Morning Report - 9 August 2022

Yesterday’s UK 100 Leaders	Price (p)	% Chg
HARGREAVES LANSDOWN PLC	958.0	8.2%
ROLLS-ROYCE HOLDINGS PLC	86.5	4.2%
ENDEAVOUR MINING PLC	1,751.0	3.7%
DS SMITH PLC	290.9	3.4%
PRUDENTIAL PLC	1,005.0	3.2%


Yesterday’s UK 100 Laggards	Price (p)	% Chg
RS GROUP PLC	1040.0	-2.3%
CENTRICA PLC	82.7	-1.3%
ASTRAZENECA PLC	10742.0	-1.1%
AVAST PLC	681.2	-1.0%
PEARSON PLC	880.4	-0.7%

Major World Indices	Price	% Chg	1 YEAR
UK 100 INDEX	7,499	0.8%	4.9%
DOW JONES INDUS. AVG	33,014	0.6%	-6.2%
DAX INDEX	13,711	1.0%	-13.4%
NIKKEI 225	28,249	0.3%	1.5%
S&P/ASX 200 INDEX	7,021	0.1%	-6.9%

Commodities	Units	Price	% Chg
WTI Crude Oil (Nymex)	USD/bbl.	89.73	0.81%
Brent Crude (ICE)	USD/bbl.	95.78	0.91%
Gold Spot	USD/t oz.	1,787	0.7%
Copper (Comex)	USd/lb.	361	1.6%

The UK 100 is called to open -9 points this morning at 7473.

1 hour; 20 Days

Click graph to enlarge

Markets Overview:

The UK 100 is called to open -9 points this morning at 7473. The UK 100 looks set to open lower this morning, having broken through 7500 yesterday, after late falls on Wall Street, after a profits warning from US chipmaker Nvidia and mixed performances in Asia. The S&P slipped 0.12% to close at 4,140.06. The Nasdaq was marginally lower, giving up 0.10% to trade at 12,644.46, while the Dow was the stand out performer on the day gaining 29.07 points to close at 32,832.54.

Company News & Broker Comments:

Company News:

Abrdn reported a lower-than-expected HY profit, pressure by global market turbulence amid geopolitical tensions and rising inflationary pressures. They reported an adjusted operating profit of £115m foy HY ended June 30th, compared with £130m expected by analyst estimates.

Bellway reports that their annual housing revenue rose 13%, as the company benefited from strong house prices that helped it offset cost pressures. Housing revenue for the year ended July 2022 rose more than £3.5bn, compared with £3.1bn in 2021.

IHG have announced a share buyback programme of $500m and resumed their interim dividend after their HY profit more than doubled on the back of a steady recovery in post-pandemic travel. Operating profit for H1 rose to $361m, compared with $138m in 2021.

IWG reports that their H1 2022 revenue +23% to £1.45bn, as their H1 pretax loss narrowed to £70.2m (2021: £163.3m loss). They state they’re looking ahead with “cautious optimism”.

Just Group reported a 15% rise in underlying profit in H1 to £74m. They reported a loss after tax of £226m, partly driven by interest rates (2021: £70m loss) as they restored an interim dividend of 0.5p per share.

Legal & General recorded an 8% rise in operating profit to £1.16bn in H1 2022, due to strong performance in its insurance and direct investment units. The results came in slightly above operating profit forecasts of £1.12bn from a company-supplied consensus poll.

NatWest calls Aug 25th general meeting to approve £0.168 per share special dividend.

Broker Comments:

No new broker comments

Reporting Today:

Bellway

Clarkson

IWG

InterContinental Hotels Group

Just Group

Legal & General

TI Fluid Systems

abrdn

Reporting Wednesday:

4Imprint Group

Admiral Group

Avast

Aviva

CLS Holdings

ContourGlobal

Provident Financial

Prudential

Quilter

TP ICAP

In Focus Today:

US Nonfarm Productivity

US Unit Labor Costs

This 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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