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|
|Ocado Group PLC||601.8||7.4%|
|Spirax-Sarco Engineering PLC||9,196.0||2.9%|
|Flutter Entertainment PLC||13,025.0||2.6%|
|Yesterday’s UK 100 Laggards||Price (p)||% Chg|
|Ashtead Group PLC||4,726.0||-9.9%|
|Smurfit Kappa Group PLC||2,707.0||-2.9%|
|Compass Group PLC||2,048.0||-2.1%|
|Airtel Africa PLC||112.0||-1.7%|
|Major World Indices||Price||% Chg||1 YEAR|
|UK 100 INDEX||7,499||-0.1%||1.3%|
|DOW JONES INDUS. AVG||35,035||0.3%||3.8%|
|S&P/ASX 200 INDEX||7,058||0.1%||-1.1%|
|WTI Crude Oil (Nymex)||USD/bbl.||77.80||2.52%|
|Brent Crude (ICE)||USD/bbl.||82.76||2.67%|
|Gold Spot||USD/t oz.||1,973||-0.4%|
The UK 100 called to open -9 points at 7,487. The UK 100 is expected to open moderately lower despite a strong showing in the US on Monday which saw Microsoft and Nvidia hit new highs. In a speech on Monday evening, the governor of the Bank of England, Andrew Bailey, warned it is “much too early” to say that inflation has been beaten, despite figures last week which showed the prime minister’s target to halve inflation had been reached. In the US on Monday, the Dow Jones closed up 0.6%, the S&P rose 0.7% and the Nasdaq climbed 1.1%.
AO World PLC announced this morning that it had swung back into profit in the first half of the financial year, despite a drop in sales, reflecting improved margins and tight cost control. As a result, the UK electrical retailer has increased profit guidance for the full-year, forecasting pre-tax profits between £28 million to £33 million compared to the £28 million predicted in July.
Capita has this morning announced that it will shortly begin consultations with employees as part of the cost saving process announced in the interim results. The move to reduce overheads means that some 900 roles in indirect support functions are at risk of redundancy. Exceptional costs of around £27m are expected to be incurred here and the cash impact will sit in Q1 ’24. A pre-close statement is due in mid-December.
British meat producer Cranswick on Tuesday forecast annual profit at the upper end of current market estimates, betting strong domestic demand and higher pig prices would offset a fall in China volumes.
NextEnergy Solar Fund
Deere & Co
US Existing Home Sales Change
UK 100 companies going ex-dividend on 23rd November 2023:
Scottish Mortgage Investment Trust
Land Securities Group
UK 250 companies going ex-dividend on 23rd November 2023:
BlackRock World Mining Trust
Witan Investment Trust
Tate & Lyle
Urban Logistics REIT
British Land Company
Babcock International Group
Liontrust Asset Management
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.