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Morning Report - 17 March 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Rentokil Initial PLC 554.8 10.3%
Abrdn PLC 210.9 5.5%
Admiral Group PLC 1,967.5 3.7%
Lloyds Banking Group PLC 47.7 3.6%
Schroders PLC 452.6 3.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
M&G PLC 181.1 -8.8%
Fresnillo PLC 700.1 -5.1%
Anglo American PLC 2,457.6 -4.0%
Segro PLC 754.4 -3.6%
BP PLC 474.1 -2.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,414 1.0% 1.5%
DOW JONES INDUS. AVG 32,037 0.5% -6.1%
DAX INDEX 14,970 1.6% 2.0%
NIKKEI 225 27,011 -0.8% 1.3%
S&P/ASX 200 INDEX 6,966 -1.5% -3.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 67.59 -0.03%
Brent Crude (ICE) USD/bbl. 73.76 0.09%
Gold Spot USD/t oz. 1,918 -0.1%
Copper (Comex) USd/lb. 386 0.4%
The UK 100 called to open +56 points at 7466

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +56 points at 7466.   The UK 100 is expected to open higher on Friday after US stocks rallied as some of the largest US financial institutions joined forces to support under pressure bank, First Republic.  In the US at the close, all three major indices were in positive territory, with the Nasdaq leading the way at 11,717 points for a 2.5% gain, while the S&P 500 saw a 1.8% recovery to close at 3,960 and the Dow gained 1.2% and ended the session at 32,247.  The news supported shares in Asia as well. The Nikkei 225 in Tokyo rose 1.2% and the S&P/ASX 200 in Sydney added 0.5%. In China, the Shanghai Composite was 0.4% higher in late trade, while the Hang Seng in Hong Kong was up 1.1%.

Company News & Broker Comments:

Company News:

Bodycote report a 2022 pretax profit of £95.3m, up from £77.5m YoY.

 

 

Diploma says outlook for their FY23 is “positive” and consistent with FY guidance.

 

 

John Wood says their 2022 results will be in line with expectations as per January update.

 

 

 

Broker Comments:

 

Deutsche Bank Upgrades GSK to Buy from Hold (7 Buys / 11 Holds / 2 Sells)

 

 

Exane BNP Downgrades Sage Group to Neutral from Outperform (8 Buys / 7 Holds / 2 Sells)

 

 

UBS Upgrades London Stock Exchange to Buy from Neutral (6 Buys / 4 Holds / 0 Sells)

Reporting Today:

UK

 

None

 

 

US

 

Xpeng

Reporting Monday:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

EU Core Harmonized Index of Consumer Prices

 

EU Labor Cost

 

US Michigan Consumer Sentiment Index

 

US UoM 5-year Consumer Inflation Expectation

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 23rd March 2023:

 

Schroders

 

British American Tobacco

 

Pearson

 

Prudential

UK 250 companies going ex-dividend on 20th March 2023:

 

Essentra

 

UK 250 companies going ex-dividend on 23rd March 2023:

 

OSB Group

 

CLS Holdings

 

Close Brothers Group

 

Hikma Pharmaceuticals

 

Hipgnosis Songs Fund

 

Chemring Group

 

HgCapital Trust

 

Volution Group

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.


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