By Samuel Indyk
Investing.com – At 07:40GMT, FTSE 100 futures are trading lower by 0.7% at 7,465.
In FX markets, GBP/USD is trading at 1.3598, EUR/GBP is trading at 0.8340. The US Dollar Index is down 0.1%.
Bitcoin is trading at $41,293.
Today’s calendar highlights include Eurozone Current Account, Eurozone Construction Output, US Building Permits, Housing Starts, Canadian CPI.
Data
UK CPI increased to 5.4% YoY in December, the highest in almost 30 years, versus expectations of 5.2%. Core CPI increased to 4.2% YoY versus expectations of 3.9%. Office for National Statistics Chief Economist Grant Fitzner said food prices grew again strongly, while increases in furniture and clothing also pushed up annual inflation. Fitzner added that the rises were slightly offset by petrol prices, which despite being at record level were stable this month but rose this time last year.
Stocks
Antofagasta (LON:ANTO) - Group copper production for the full year was down 1.7% to 721,500 tonnes, within the guidance range. Gold production up 23.6% to 252,200 ounces. Group production in 2022 is expected to be 660-690,000 tonnes of copper (as previously announced), 170-190,000 ounces of gold and 8,500-10,000 tonnes of molybdenum.
Burberry Group (LON:BRBY) - Q3 full price comparable store sales up 26% versus Q3 FY20. Comparable store sales down 3%. Retail revenue increased 5% to £723 million. Expect current year adjusted operating profit to grow in the region of 35% at CER compared with the prior year. Currency headwind is now expected to be £79 million (from circa £100 million) on revenue and £27 million (from circa £40 million) on adjusted operating profit.
BHP Group (LON:BHPB) - Production guidance for the 2022 financial year remains unchanged for iron ore, energy coal and nickel. Full year total copper production is trending towards the low end of the guidance range, reflecting lower production guidance for Pampa Norte. Metallurgical coal guidance has been reduced as a result of significant wet weather impacts and COVID-19 related labour constraints.H1 copper production down 12% to 742K tonnes. Iron ore production up 1% to 129.4Mt.
J D Wetherspoon (LON:JDW) - In the 25 weeks to 16 January 2022, like-for-like sales decreased by 11.7% and total sales by 13.3%, compared to the similar period in financial year 2020. CEO Tim Martin said the company will be loss making in the first half of the financial year but hopes it will have a much stronger performance in the second half.
Crest Nicholson (LON:CRST) - FY revenue increased 16% to £786.6 million. Sales per outlet week increased to 0.80 (FY20: 0.59). Forward sales as at 14 January 2022 of 2,702 units and £719.0 million Gross Development Value. Proposed final dividend of 9.5 pence per share. Total dividend for the year of 13.6 pence per share, in line with dividend policy.
Centamin (LON:CEY) - FY gold production totalled 415,370 ounces, at the midpoint of 400,000-430,000 guidance. FY revenue of US$733 million, generated from gold sales of 407,252 oz at an average realised gold price of $1,797/oz sold. 2022 guidance unchanged with gold production expected at 430,000-460,000 ounces.
WH Smith (LON:SMWH) - December group revenue 87% of 2019 revenue. Year to date group revenue was 85% of 2019 revenue. Anticipate, subject to no further restrictions, that Travel markets will recover further through the spring.
GlaxoSmithKline (LON:GSK) - Appointed Tony Wood as Chief Scientific Officer designate.
AstraZeneca (LON:AZN) - Imfinzi plus tremelimumab demonstrated unprecedented survival in 1st-line unresectable liver cancer with 31% of patients alive at three years. A single priming dose of tremelimumab plus Imfinzi every four weeks reduced risk of death by 22% in HIMALAYA Phase III trial.
Pearson (LON:PSON) - Full year Group sales up 8% and adjusted operating profit expected of circa £385 million up circa 33% compared to last year and ahead of expectations.
Smith & Nephew (LON:SN) - Announces acquisition of Engage Surgical, owner of the only cementless unicompartmental (partial) knee system commercially available in the US. The cost of the acquisition is up to $135 million contingent on sales performance. The acquisition was financed from existing cash and debt facilities.
Experian (LON:EXPN) - Kerry Williams to retire as Chief Operating Officer in March 2023. Craig Boundy, head of North America, will succeed Kerry Williams. Jennifer Schulz will assume the role of CEO, North America for Experian from 1 April 2022.
Diploma (LON:DPLM) - Q1 underlying revenue growth was 16%. Reported revenue growth was 28%, reflecting the net contribution from acquisitions and the two small disposals. Operating margin is in-line with expectations. Strong first quarter performance increases confidence in delivering full year guidance.
Liontrust Asset Management (LON:LIO) - Assets under management and advice were £37.2 billion as at 31 December 2021, an increase of 20% over the financial year. Net inflows of £0.8 billion in the three months ended 31 December 2021 and £2.9 billion for the nine months ended 31 December 2021.
M&C Saatchi (LON:SAA) - Mickey Kalifa is resigning from his executive role of Chief Financial Officer for personal reasons. A search for a replacement will commence immediately.
Galliford Try (LON:GFRD) - Trading in line with the Board's expectations.