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Morning Report - 19 May 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
JD Sports Fashion PLC 172.65 5.9%
ConvaTec Group PLC 226 5%
Ashtead Group PLC 4960 3.3%
Standard Chartered PLC 642.6 2.8%
DCC PLC 4990 2.7%
Yesterday’s UK 100 Laggards Price (p) % Chg
Burberry Group PLC 2389 -5.2%
BT Group PLC 140.7 -5%
Ocado Group PLC 397.7 -3%
National Grid PLC 1108 -2.8%
Centrica PLC 116.8 -2.4%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,742 0.25% 6%
DOW JONES INDUS. AVG 33,535 0.34% 7.3%
DAX INDEX 16,163 1.33% 16.43%
NIKKEI 225 30,838 0.87% 16.77%
S&P/ASX 200 INDEX 7,280 0.61% 3.06%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 72.37 0.71%
Brent Crude (ICE) USD/bbl. 76.45 0.78%
Gold Spot USD/t oz. 1,962 0.3%
Copper (Comex) USd/lb. 371 0.56%
The UK 100 called to open +25 points at 7,771.

4 hours; 5 Months

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Markets Overview:

The UK 100 called to open +25 points at 7,771. UK 100 is set to open higher on Friday as fears of a US debt default subside. US stocks closed higher on Thursday as Dow edged up 0.3%, S&P +0.3% and Nasdaq +1.5%. In Asia on Friday the Nikkei closed +0.7%, Shanghai -0.3% and Hong Kong -1.2%.

Company News & Broker Comments:

Company News:

IQE are to issue 150m new shares in placing and 5.5m new shares in retail offer.

 

Smiths Group lifted their annual revenue growth forecast for the third time in five months as demand for its products improves on decarbonisation trends and from airport upgrades. They now expect organic revenue growth to rise by around 10% in the 12 months ending July, higher than its previous guidance of at least 8% growth, which it gave in March.

 

Vanquis Banking appoints Ian McLaughlin as CEO starting in July.

 

 

Broker Comments:

RBC Upgrades St James’s Place to Outperform from Sector Perform (7 Buys / 7 Holds / 0 Sells)

 

Reporting Today:

UK

 

None

 

 

US

 

Deere & Co

Reporting Monday:

UK

 

Kainos Group

 

Pershing Square Holdings

 

Schroder Oriental Income Fund

 

 

US

 

Zoom Video Communications

 

 

In Focus Today:

German Producer Price Index

 

EU Economic Bulletin

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 25th May 2023:

 

Kingfisher

 

Intertek Group

 

Whitbread

 

UK 250 companies going ex-dividend on 25th May 2023:

 

Diversified Energy Company

 

Bellway

 

IP Group

 

TI Fluid Systems

 

Victrex

 

Spire Healthcare 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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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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