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Morning Report - 16 November 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
St. James’s Place PLC 708.2 7.2%
Experian PLC 2,871.2 7.1%
Ocado Group PLC 603.4 6.9%
International Consolidated Airlines Group S.A. 160.4 4.2%
Glencore PLC 466.4 3.6%


Yesterday’s UK 100 Laggards Price (p) % Chg
Diageo PLC 2,839.0 -2.1%
Pearson PLC 947.6 -1.7%
B&M European Value Retail S.A. 548.2 -1.7%
Unite Group PLC 989.0 -1.4%
Tesco PLC 275.0 -1.3%


Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,489 0.7% 2.0%
DOW JONES INDUS. AVG 34,973 0.4% 4.1%
DAX INDEX 15,746 0.8% 9.2%
NIKKEI 225 33,520 2.5% 19.6%
S&P/ASX 200 INDEX 7,106 1.4% -0.2%


Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 77.00 -1.61%
Brent Crude (ICE) USD/bbl. 81.52 -1.15%
Gold Spot USD/t oz. 1,963 -0.1%
Copper (Comex) USd/lb. 372 0.9%
The UK 100 called to open -21 points at 7,465

4 hours; 6 Months

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Markets Overview:

The UK 100 called to open -21 points at 7,465.  The UK 100 looks set to open slightly lower this morning consolidating recent gains. On Wall Street yesterday all three major indices closed in the green again, continuing the staggering run over the past couple of weeks.  The Dow Jones rose 0.5%, the S&P rose 0.2% and the Nasdaq rose 0.1%.



Company News & Broker Comments:

Company News:

Aviva posted a 13% rise in its general insurance gross written premiums for the first 9 months of the year, supported by steady commercial demand. They reported premiums of £8bn, compared with £7.2bn a year earlier.


Burberry update that they are being hit by a global slowdown in luxury spending, and if it continued they are unlikely to meet their revenue forecast of low double-digit growth for its current financial year. They reported a FY adjusted operating profit of £223m.


Close Brothers Group says that winterflood’s performance has been adversely impacted by further weakening of investor appetite, market uncertainty, resulting in an operating loss of £2.5m in Q1. They do state that it is well positioned for when investor confidence recovers.


Halma reports HY revenue of £950.5m, up 9% YoY. They reported a HY adjusted profit before tax of £177.5m, up 3% YoY.


Investec posted a 15% rise in HY profit, led by increased loan volumes, corporate deposits and funds under management. They reported a headline EPS of 36.9p and an interim dividend of 15.5p per share.


International Distribution Services they expect to pay a modest dividend from its GLS unit and its adjusted operating performance would be around the breakeven point this fiscal year. They reported a group adjusted operating loss of £169m, compared with £57m a year earlier.


United Utilities reported higher H1 revenue driven by higher consumptions. They posted a revenue of £982m for H1, up 6.8% from £913m last year.


Broker Comments:

Bernstein Downgrades Deliveroo to Market-perform from Outperform (5 Buys / 5 Holds / 0 Sells)


Exane BNP Downgrades Entain to Neutral from Outperform (14 Buys / 1 Hold / 0 Sells)


Exane BNP Upgrades SSE to Outperform from Neutral (9 Buys / 3 Holds / 0 Sells)


Goldman Sachs Upgrades Marks & Spencer to Buy from Neutral (3 Buys / 11 Holds / 0 Sells)


Morgan Stanley Downgrades Wizz Air to Equal Weight from Overweight (11 Buys / 6 Holds / 1 Sell)


Morgan Stanley Upgrades EasyJet to Overweight from Equal Weight (9 Buys / 7 Holds / 1 Sell)

Reporting Today:





Burberry Group

Close Brothers Group

Crest Nicholson Holdings


International Distribution Services


Liontrust Asset Management

Premier Foods

QinetiQ Group


United Utilities





Alibaba Group


Applied Materials

Reporting Tomorrow:











In Focus Today:

US Initial Jobless Claims

Philadelphia Fed Manufacturing Survey

US Industrial Production

BoE’s Ramsden speech


This Morning’s Ex-Dividends:

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


Hargreaves Lansdown




B&M European Value Retail S.A.


Marks and Spencer Group

Pershing Square Holdings


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


Fidelity Emerging Markets

NextEnergy Solar Fund

Schroder Oriental Income Fund

Octopus Renewables Infrastructure Trust

UK Commercial Property REIT

Baillie Gifford Japan Trust

Murray Income Trust

Empiric Student Property

BlackRock Greater Europe Inv Trust

Scottish American Investment Company

ICG Enterprise Trust

Bytes Technology Group

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