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Morning Report - 24 January 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Ocado Group PLC 735.6 3.9%
F&C Investment Trust PLC 945.0 1.6%
Antofagasta PLC 1,757.5 1.6%
Persimmon PLC 1,395.0 1.6%
Smith (Ds) PLC 351.7 1.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
Endeavour Mining PLC 1,929.0 -2.6%
St. James’s Place PLC 1,208.0 -2.2%
Hiscox LTD 1,106.0 -1.6%
Croda International PLC 6,938.5 -1.5%
London Stock Exchange Group PLC 7,358.5 -1.4%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,785 0.2% 3.9%
DOW JONES INDUS. AVG 33,691 1.0% -1.8%
DAX INDEX 15,103 0.5% -3.2%
NIKKEI 225 26,906 1.3% -2.5%
S&P/ASX 200 INDEX 7,457 0.1% 4.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 81.97 0.40%
Brent Crude (ICE) USD/bbl. 88.46 0.95%
Gold Spot USD/t oz. 1,929 0.1%
Copper (Comex) USd/lb. 425 0.0%
The UK 100 called to open +14 points at 7798. 

1 Day; 3 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +14 points at 7798.  The UK 100 is expected to open slightly higher on Tuesday, after gains in the US yesterday and Tokyo this morning ahead of PMI readings from across the world this morning.  At the close on Wall Street, the Dow was up 0.8% at 33,630 points, the S&P gained 1.2% to reach 4,020 and the Nasdaq gained the most, adding 2%, to close the session at 11,364 points.

 

Company News & Broker Comments:

Company News:

Associated British Foods reported a 15% rise in sales at its Primark clothing business over the 16 weeks to Jan 7th, benefiting from “very strong” trading in the Christmas period. Their total revenue rose 16% adding that its outlook for the FY was unchanged.

 

 

Marston’s report that their sales for the 16 weeks to Jan 21st were up 4.5% compared with the corresponding period in the pre-pandemic 2020 fiscal, boosted by strong trading during festive days.

 

 

Saga says they are on track for a FY underlying pretax profit guide of £20-30m. They also expect their FY revenue to be between 40-50% higher YoY. Their underwriting arm has struggled with high levels of claims inflation as they aim for diversification across Cruise, Travel, Insurance, Money and Media.

 

 

Staffline expects their 2022 results to be marginally ahead of market expectations.

 

 

THG hires Damian Sanders as CFO with immediate effect.

 

 

Broker Comments:

Davy Upgrades DS Smith to Outperform (8 Buys / 2 Holds / 0 Sells)

 

 

Panmure Downgrades Unite Group to Hold (4 Buys / 3 Holds / 0 Sells)

 

 

Panmure Upgrades Shaftesbury to Buy (2 Buys / 3 Holds / 0 Sells)

Reporting Today:

UK

 

Associated British Food

 

US

 

3M

General Electric

Johnson & Johnson

Verizon Communications

Microsoft

Reporting Wednesday:

 

UK

 

Diageo

 

Dr. Martens

 

Wizz Air Holding

 

US

 

Mastercard

 

Intel

 

Visa

 

 

In Focus Today:

German Gfk Consumer Confidence Survey

 

German S&P Global/BME Composite PMI

 

German S&P Global/BME Manufacturing PMI

 

EU S&P Global Composite PMI

 

EU S&P Global Manufacturing PMI

 

UK S&P Global/CIPS Services PMI

 

UK S&P Global/CIPS Composite PMI

 

US S&P Global Composite PMI

 

US S&P Global Manufacturing PMI

 

 

This Week’s Ex-Dividends:

UK 100 companies going  ex-dividend on 26th January 2023:

 

None

UK 250 companies going  ex-dividend on 26th January 2023:

 

Foresight Solar Fund

 

Pennon Group

 

City of London Investment Trust

 

Schroder Oriental Income Fund

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