This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
|Yesterday’s UK 100 Leaders||Price (p)||% Chg|
|Weir Group PLC||1,834.0||1.3%|
|Associated British Foods PLC||1,852.0||1.3%|
|BT Group PLC||132.0||1.3%|
|Yesterday’s UK 100 Laggards||Price (p)||% Chg|
|Ocado Group PLC||732.0||-9.4%|
|Berkeley Group Holdings (The) PLC||4,339.0||-2.7%|
|JD Sports Fashion PLC||158.7||-1.9%|
|Endeavour Mining PLC||1,932.0||-1.8%|
|Major World Indices||Price||% Chg||1 YEAR|
|UK 100 INDEX||7,833||-0.3%||3.0%|
|DOW JONES INDUS. AVG||33,916||-1.1%||-5.6%|
|S&P/ASX 200 INDEX||7,386||0.0%||-0.3%|
|WTI Crude Oil (Nymex)||USD/bbl.||80.50||0.80%|
|Brent Crude (ICE)||USD/bbl.||86.02||1.85%|
|Gold Spot||USD/t oz.||1,910||-0.3%|
The UK 100 called to open -14 points at 7837. The UK 100 looks set to open modestly lower this morning, after UK consumer Price Inflation dipped from 10.7% to 10.5% last month, in line with expectations. But core inflation – stripping out food and energy – was higher than expected at 6.3% rather than 6.2%. It was a mixed session in the US yesterday, the Dow Jones fell by more than 400 points, lead lower by weaker than expected results from Goldman Sachs, to end the session at 33,910 while the S&P fell by just 8 points to trade at 3,991. The Nasdaq gained 15 points to close at 11,094
Antofagasta 2022 copper production falls 10% to 646,200 tonnes, in line with guidance. They expect their 2023 copper production to be in the range of 670,000 – 710,000 tonnes.
Burberry report Q3 retail revenue of £756m, up 5% YoY. They have backed near and medium-term targets of high-single digit revenue growth. They expect currency tailwind of £160m on revenue in FY23.
Currys are confident of achieving an adjusted pretax profit of £100-125m in their FY.
Pearson report that their group underlying sales for the year increased 5% and they reported an adjusted operating profit of £455m up 11% YoY ahead of expectations. They are on track to deliver £120m of cost efficiencies in 2023 as £20m of these cost efficiencies are to be used to offset inflationary pressures.
Qinetiq says they are on track to deliver in line with expectations for FY23.
Smiths Group expects organic revenue growth of at least 7% in FY23. They expect low double-digit percentage organic revenue growth in H1 as they state volume growth and price increases are offsetting cost inflation.
S4 Capital says trading in Q4 was in line with expectations. They expect a £120m operational EBITDA for FY22.
Vistry says 2022 profit was in line with expectations, ahead of the start of the year. They expect an adjusted pretax profit to increase by 21% to £418m from £346m YoY.
WH Smith delivers strong performance in 20 weeks to Jan 14th, revenue up 41% YoY. Their UK high street division delivered good performance in line with expectations. They state that their cost savings target for the FY is on track as they are confident of a year of significant progress in 2023.
Bank of America Downgrades Segro to Neutral from Buy (10 Buys / 4 Holds / 1 Sell)
Bank of America Upgrades British Land to Buy from Underperform (5 Buys / 7 Holds / 0 Sells)
Bank of America Upgrades Land Securities to Buy from Neutral (5 Buys / 10 Holds / 0 Sells)
Deutsche Bank Upgrades Greggs to Buy from Hold (7 Buys / 3 Holds / 0 Sells)
Oddo BHF Downgrades Whitbread to Neutral from Outperform (12 Buys / 3 Holds / 0 Sells)
Network International Holdings
Procter & Gamble
BoJ Interest Rate Decision
BoJ Monetary Policy Statement
BoJ Press Conference
UK Consumer Price Index
UK Retail Price Index
EU Core Harmonized Index of Consumer Prices
US Producer Price Index ex Food & Energy
US Retail Sales
US Retail Sales Control Group
Fed’s Beige Book
Japanese Merchandise Trade Balance Total
UK 100 companies going ex-dividend on 19th January 2023:
UK 250 companies going ex-dividend on 19th January 2023:
Games Workshop Group
Balanced Commercial Property Trust
Supermarket Income REIT
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.
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.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.