UK pre-market stocks update – Shell, AstraZeneca, Aston Martin, C&C

At 07:24GMT, FTSE 100 futures are trading higher by 0.1% at 7,393.

In FX markets, GBP/USD is trading at 1.3540, EUR/GBP is trading at 0.8349. The US Dollar Index is lower by 0.1%.

Bitcoin is trading at $41,523.

Today’s calendar highlights include UK Construction PMI, Eurozone CPI, Eurozone Consumer Confidence, Eurozone Retail Sales, US Nonfarm Payrolls, Canadian Employment Change.

Data
UK house prices rose 9.8% in December from a year earlier, according to Halifax, the largest annual increase since July 2007.

Stocks
Royal Dutch Shell (LON:RDSa) – The remaining $5.5 billion of proceeds from the Permian divestment will be distributed in the form of share buybacks at pace. Q4 integrated gas production expected to be between 910 and 950 thousand barrels of oil equivalent per day. Upstream production expected to be between 2,150 and 2,250 thousand barrels of oil equivalent per day. Oil products marketing results are expected to be in line with the fourth quarter 2020 but lower compared with the third quarter 2021 due to seasonal trends, the demand impact due to the Omicron virus and foreign exchange impacts in Turkey.

AstraZeneca (LON:AZN) – Entered into an exclusive global collaboration and licence agreement with Neurimmune AG for NI006, an investigational human monoclonal antibody currently in Phase Ib development for the treatment of transthyretin amyloid cardiomyopathy. Under the agreement, AstraZeneca’s Alexion (NASDAQ:ALXN) will be granted an exclusive worldwide licence to develop, manufacture and commercialise NI006.

Aston Martin Lagonda (LON:AML) – FY wholesales grew 82% to 6,182. 10 Aston Martin Valkyrie and Valkyrie AMR Pro vehicles were shipped in Q4. This was fewer than previously planned and accordingly, adjusted EBITDA is anticipated to be circa £15 million lower than expected. An associated reduction in 2021 depreciation and amortisation is expected to result in a broadly net neutral impact on adjusted operating profit.

Taylor Wimpey (LON:TW) – Elliott Advisors, which is demanding a leadership change at Taylor Wimpey, has told shareholders that it would back for Persimmon (LON:PSN) boss Dave Jenkinson to take over as CEO. (Times)

Smiths Group (LON:SMIN) – Completed the sale of Smiths Medical to ICU Medical. Smiths intends to return an amount representing 55% of the initial cash proceeds (equating to $1 billion or £742 million) to shareholders in the form of a share buyback programme. Smiths initiated this programme on 19 November 2021 and has purchased 4.2 million shares to date, for a total consideration of £64.3 million.

Essentra (LON:ESNT) – Strategic reviews of Filters and Packaging divisions are progressing as planned following the Board’s decision to become a pure play Components business. Q4 revenue increased 12.7% YoY on a like for like basis. Expects to deliver FY 2021 operating profit in the range of analysts’ forecasts.

Clarkson (LON:CKN) – Trading during December was stronger than anticipated and underlying profit before tax for 2021, subject to audit, is now expected to be not less than £69 million.

C&C Group (LON:GCC) – Trading in Q3 (September to November), was modestly ahead of expectations and the previously stated guidance. In December 2021, trading conditions for our on-trade business were significantly impacted by renewed government restrictions across the UK and Ireland. The operating profit outcome for the H2 FY2022 period will be affected by the nature, extent and duration of government restrictions. In December, C&C traded directly with 81% of on-trade outlets vs FY2020, delivering 64% of the volume against an expectation of 90% and 90% respectively.

Lookers (LON:LOOK) – Expects record underlying profit before tax ahead of company compiled market consensus of £82 million. Confident that the Group remains well positioned to capitalise on the opportunities ahead and achieve its financial expectations.