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Morning Report - 15 March 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Rolls-Royce Holdings PLC 156.0 7.6%
Centrica PLC 107.6 3.5%
St. James’s Place PLC 1,195.0 3.4%
Barclays PLC 152.4 3.3%
Bae Systems PLC 937.4 3.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
Fresnillo PLC 734.4 -1.7%
Imperial Brands PLC 1,907.0 -0.7%
British American Tobacco PLC 2,995.5 -0.6%
Hiscox LTD 1,108.0 -0.5%
Johnson Matthey PLC 2,028.0 -0.4%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,638 1.2% 4.9%
DOW JONES INDUS. AVG 32,203 1.2% -2.3%
DAX INDEX 15,246 1.9% 9.4%
NIKKEI 225 27,222 -2.2% 7.4%
S&P/ASX 200 INDEX 7,009 -1.4% -1.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 73.76 -1.39%
Brent Crude (ICE) USD/bbl. 79.78 -1.23%
Gold Spot USD/t oz. 1,903 -0.6%
Copper (Comex) USd/lb. 402 -0.9%
The UK 100 called to open -2 points at 7635

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open -2 points at 7635.  The UK 100 looks set to open broadly unchanged ahead of today’s Spring budget, which is to be announced at 12.30pm.  The chancellor is expected to pledge to tackle labour shortages and get people back to work alongside announcements on energy bill support, benefits reform and pensions allowances.  In Asia this morning, the Nikkei 225 ended 7 points to the good, while in China, the Shanghai Composite was up 0.6%. In Hong Kong, the Hang Seng index added 1.5%. Wall Street yesterday benefited from cooling inflation data, the Dow Jones closed up 336.26 points, or 1.1%, at 32,155.40. The S&P 500 added 64.80 points, or 1.7% to close at 3,920.56 and the Nasdaq Composite advanced 239.31 points, or 2.1% to trade at 11,428.15.

Company News & Broker Comments:

Company News:

Balfour Beatty reports a FY pretax profit of £287m, with a FY order backlog of £17,400m.

 

 

Burberry says Ferry is to succeed Chief Operating & Financial Officer Julie Brown.

 

 

Ferrexpo reported a slump in its FY profit as the Ukraine-focussed miner took a hit from higher costs and lower production volumes. Their underlying core profit for the FY ended Dec 31st dropped 47% to $765m.

 

 

Marshalls report a 2022 statutory pretax profit of £37.2m, down 46% YoY from £69.3m.

 

 

Prudential report that their FY new business profit is down 14% YoY to $2.18bn, from $2.53bn previously. They have increased their FY dividend total by 9% YoY to 18.78 cents per share.

 

 

Trainline says their FY adjusted EBITDA is to be in line with market expectations.

 

 

 

Broker Comments:

 

No new broker comments

Reporting Today:

UK

 

4Imprint Group

 

Balfour Beatty

 

Ferrexpo

 

Foresight Solor Fund

 

Marshalls

 

Prudential

 

 

US

 

Adobe

Reporting Tomorrow:

UK

 

Helios Towers

 

Rentokil Initial

 

Savills

 

TI Fluid Systems

 

W.A.G Payment solutions

 

 

US

 

Signet Jewelers

 

FedEx

 

 

In Focus Today:

Chinese Industrial Production

 

Chinese Retail Sales

 

EU Industrial Production s.a.

 

UK Budget Report

 

US Producer Price Index ex Food & Energy

 

US Retail Sales

 

Japanese Exports

 

Japanese Imports

 

Japanese Merchandise Trade Balance Total

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 16th March 2023:

 

M&G

 

NatWest Group

 

SEGRO

 

Anglo American

 

CRH

 

Haleon

UK 250 companies going ex-dividend on 16th March 2023:

 

Crest Nicholson Holdings

 

Dunelm Group

 

Spirent Communications

 

Bellevue Healthcare Trust

 

Digital 9 Infrastructure

 

abrdn Private Equity Opportunities Trust

 

JPMorgan Emerging Markets Invest Trust

 

Balanced Commercial Property Trust

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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


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