UK update – Shell details Ida hit, house prices rise at fastest rate since 2007

© Reuters.

By Samuel Indyk

Investing.com – At 07:35BST, FTSE 100 Futures are trading higher by 1.3% at 7,058.

In FX markets, GBP/USD is trading at 1.3595, EUR/GBP is trading at 0.8504. The US Dollar Index is down 0.1%.

Today’s calendar highlights include UK labour productivity, US Challenger job cuts, weekly jobless claims, US natural gas storage, and the ECB accounts from their latest policy meeting.

Data

UK house prices increased by 1.7% in September from August, the biggest monthly increase since February 2007, according to Halifax. In annual terms, house price growth accelerated to 7.4% from 7.2%.

Stocks

Royal Dutch Shell (LON:RDSa) - Hurricane Ida impacted operations and is expected to have an aggregate adverse impact of around $400 million on Adjusted Earnings and cash flow from operations in Q3. Upstream production expected between 2.025 million and 2.100 million barrels of oil equivalent per day.

IAG/Ryanair (LON:RYA) - The UK’s Competition and Markets Authority (CMA) has closed its investigation into Ryanair and British Airways as a lack of clarity in the law makes it insufficiently certain that it would be able to secure refunds for customers.

IAG (LON:ICAG) - British Airways plans to rehire around 3,000 cabin crew after cutting roughly 10,000 jobs last year.

GlaxoSmithKline (LON:GSK) - The World Health Organization recommends GSK’s Malaria vaccine should be widely given to children in Africa.

Mondi (LON:MNDI) - Q3 underlying EBITDA up 27% to €388 million. Demand remains strong and the company is increasing prices to support the recovery of ongoing inflationary pressures. Q4 will be impacted by recent input cost increases alongside planned maintenance and project-related shuts.

Volution Group (LON:FAN) - FY revenue up 25.8% to £272.6 million. Adjusted operating profit up 68.8% to £56.9 million. Resumes dividend with total FY dividend of 6.3 pence per share. New financial year has started well delivering organic revenue ahead of the same period in the prior year.

Diversified Energy Company (LON:DEC) - Entered into conditional agreements to acquire certain upstream assets, field infrastructure, equipment and facilities within the Company's Central Region from Tapstone Energy Holdings. Total gross consideration, inclusive of Oaktree's investment, is $419 million.

Workspace Group (LON:WKP) - Strong pick-up in activity in September. There was an average of 935 enquiries and 138 lettings per month in Q2. Like-for-like rent roll was up 2.1% in the first six months to £87.3 million. Strong cash collection, with 97% of rent due for the second quarter collected to date.

CMC Markets (LON:CMCX) -  H1 2022 net operating income expected to be approximately £126 million. Reiterates prior guidance and expects FY 2022 net operating income to settle in a range between £250-280 million.

Carnival (LON:CCL) (NYSE:CCL) - Announces restart of some cruises in US in January and February. U.S.-based operations will by Februarybe using 90% of Carnival's U.S.-based capacity.

Impax Asset Management (LON:IPX) - End of September AUM reached £37.2 billion, representing an increase of 8.0% for the quarter and 84.3% for the FY.

Robert Walters (LON:RWA) - Profit for the full year is now expected to be comfortably ahead of the guidance signalled in the Group's half-year results statement. Group net fee income for the third quarter was up 32% on a constant currency basis.

Motorpoint (LON:MOTR) - H1 group revenues grew by circa 57% following continued strong consumer demand for used vehicles. Sales growth slowed from June due to the reduced supply of vehicles, following record trading in April and May. Trading continues to be in line with the Board's expectations for the full year.

Centrica (LON:CNA) - Upgraded to overweight from equal weight by Morgan Stanley (NYSE:MS)

IPO

Stelrad Radiator Group - Announces intention to float on the Main Market of the London Stock Exchange.

Sectors

Travel & Leisure - The US is reportedly set to delay reopening to UK travellers. Furthermore, the UK government’s Red list of countries is set to be cut to around 12 nations today.