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Morning Report - 22 March 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Natwest Group PLC 275.1 6.7%
Rolls-Royce Holdings PLC 149.9 6.3%
Ashtead Group PLC 5,126.0 5.3%
Barclays PLC 143.6 5.3%
Lloyds Banking Group PLC 48.3 4.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Endeavour Mining PLC 1,751.9 -4.3%
Fresnillo PLC 714.2 -4.0%
Kingfisher PLC 267.0 -2.3%
Segro PLC 742.0 -1.5%
Severn Trent PLC 2,807.0 -1.5%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,536 1.8% 1.4%
DOW JONES INDUS. AVG 32,414 0.5% -6.2%
DAX INDEX 15,190 1.7% 6.1%
NIKKEI 225 26,946 -1.4% 0.4%
S&P/ASX 200 INDEX 6,955 0.8% -5.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.35 1.05%
Brent Crude (ICE) USD/bbl. 74.39 0.81%
Gold Spot USD/t oz. 1,944 -1.8%
Copper (Comex) USd/lb. 398 0.7%
The UK 100 called to open -24 points at 7512.

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open -24 points at 7512.   The UK 100 looks set to edge lower this morning after UK inflation data showed a rise to 10.4 per cent last month in a reversal of recent trends.  Wall Street yesterday saw the Dow Jones close up 1% at 32,560 points, the S&P 500 added 1.3% to close at 4,002 points, and the Nasdaq Composite gained 1.6% to end the session at 11,860 points.

Company News & Broker Comments:

Company News:

Essentra delays their 2022 results due to disposals from filters and packaging business.

 

 

Fevertree FY pretax profit falls to £31m from £55.6m YoY. They have increased their final dividend by 2% to 10.68p as they reiterate Jan guidance of FY23 revenue of £390-405m and EBITDA of £36-42m.

 

 

Superdry are to sell some intellectual property assets for £50m to Cowell Fashion.

 

 

Vistry Group report that market conditions were improving in the housing sector, as they reported a 21% rise in their annual profit to beat market expectations. They reported an adjusted pretax profit of £418.4m for the year ended Dec 31st, compared with average analysts’ estimate of £411.1m.

 

 

Broker Comments:

 

Exane BNP Upgrades Marks & Spencer to Neutral from Underperform (2 Buys / 13 Holds / 0 Sells)

 

 

CitiGroup Upgrades Marks & Spencer to Buy (2 Buys / 13 Holds / 0 Sells)

 

 

Goldman Sachs Downgrades British Land to Sell (8 Buys / 5 Holds / 1 Sell)

 

 

Goldman Sachs Upgrades Marks & Spencer to Neutral (2 Buys / 13 Holds / 0 Sells)

Reporting Today:

UK

 

Essentra

 

Vistry Group

 

US

 

None

Reporting Tomorrow:

UK

 

Energean

 

Inchcape

 

Playtech

 

 

US

 

General Mills

 

Accenture

 

 

In Focus Today:

UK Consumer Price Index

 

UK PPI Core Output

 

UK Retail Price Index

 

German 10-y Bond Auction

 

Fed Interest Rate Decision

 

Fed’s Monetary Policy Statement

 

FOMC Economic Projections

 

US Interest Rate Projections – Current

 

US Interest Rate Projections – Longer

 

FOMC Press Conference

 

Tomorrow’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 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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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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