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Morning Report - 21 November 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Diploma PLC 3,360.0 11.3%
Ocado Group PLC 601.8 7.4%
Spirax-Sarco Engineering PLC 9,196.0 2.9%
Flutter Entertainment PLC 13,025.0 2.6%
Halma PLC 2,090.0 1.8%


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%
Dcc PLC 5,244.0 -1.9%
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%
DAX INDEX 15,902 -0.1% 10.0%
NIKKEI 225 33,388 -0.6% 19.5%
S&P/ASX 200 INDEX 7,058 0.1% -1.1%


Commodities Units Price % Chg
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%
Copper (Comex) USd/lb. 382 1.2%
The UK 100 called to open -9 points at 7,487

4 hours; 6 Months

Click graph to enlarge

Markets Overview:

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%.



Company News & Broker Comments:

Company News:

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.


Broker Comments:

 No New broker comments

Reporting Today:



Caledonia Investments


Telecom Plus

Workspace Group










Reporting Tomorrow:



Breedon Group


Coats Group


HICL Infastructure

Johnson Matthey


NextEnergy Solar Fund


Sage Group

Severn Trent





Deere & Co



In Focus Today:

US Existing Home Sales Change

FOMC Minutes


This Week’s Ex-Dividends:

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


Scottish Mortgage Investment Trust

RS Group

National Grid

Vodafone Group

Imperial Brands


Land Securities Group


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


Volution Group

BlackRock World Mining Trust

3i Infrastructure

Witan Investment Trust

Tate & Lyle

Urban Logistics REIT

Kainos Group

British Land Company

Babcock International Group

HICL Infrastructure

Liontrust Asset Management

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