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Morning Report - 24 March 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Melrose Industries PLC 161.1 4.5%
Endeavour Mining PLC 1,840.0 2.7%
Scottish Mortgage Investment Trust PLC 670.1 2.2%
Bae Systems PLC 977.8 2.1%
Centrica PLC 105.3 2.0%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
British American Tobacco PLC 2,835.0 -5.2%
Schroders PLC 447.1 -3.5%
Kingfisher PLC 263.9 -2.7%
British Land Company PLC 365.1 -2.7%
Standard Chartered PLC 634.8 -2.6%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,522 -0.6% 1.3%
DOW JONES INDUS. AVG 32,398 1.2% -5.7%
DAX INDEX 15,234 0.1% 6.5%
NIKKEI 225 27,420 -0.2% -2.2%
S&P/ASX 200 INDEX 6,969 -0.7% -5.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.17 0.38%
Brent Crude (ICE) USD/bbl. 77.00 0.40%
Gold Spot USD/t oz. 1,991 1.1%
Copper (Comex) USd/lb. 411 1.7%
The UK 100 called to open -37 points at 7462. 

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open -37 points at 7462.   The UK 100 is expected to open lower after a volatile session in the US and ahead of UK retail sales figures in the UK.  It was a mixed session Stateside on Friday, having given up strong early gains to eek out a gain across all major benchmarks, The Dow Jones closed up 75.14 points, or 0.3%, to end at 32,105.25. The S&P rose 11.75 points, or 0.3% to trade at 3,948.72. The Nasdaq had a more convincing trading day, surging 117.44 points, 1.0%, to 11,787.40.  In Tokyo, the Nikkei 225 index was down 0.1%. In China, the Shanghai Composite was down 0.7%, while the Hang Seng index in Hong Kong was down 0.8%.

Company News & Broker Comments:

Company News:

Games Workshop says trading in the 3 months to end of February is in line with expectations.

 

 

J D Wetherspoon returned to a HY profit as customers flocked to its pubs despite a cost of living crisis. They reported a profit of £4.6m for the six months ended Dec 31st, compared with a loss of £21.3m a year ago. Pubs and restaurants continue to face high costs as customers limit their spending on discretionary items amid a cost of living crisis.

 

 

Smiths Group posted a 27% jump in H1 profit and upgraded its forecast for the FY as demand for its valves, connectors and other products climbed.

 

 

TUI launches a 1.8bn euro capital raise to repay WSF state aid and reduce KfW credit lines.

 

 

Broker Comments:

 

HSBC Upgrades St James’s Place to Buy (6 Buys / 8 Holds / 0 Sells)

 

 

JP Morgan Upgrades Hunting to Overweight from Neutral (4 Buys / 2 Holds / 0 Sells)

Reporting Today:

UK

 

Smiths Group

 

Wetherspoon (JD)

 

 

US

 

None

Reporting Monday:

UK

 

Carnival

 

 

US

 

None

 

 

In Focus Today:

EU leaders summit

 

UK Retail Sales

 

UK GfK Consumer Confidence

 

German S&P Global/BME Composite PMI

 

EU S&P Global Composite PMI

 

UK S&P Global/CIPS Services PMI

 

US Durable Goods Orders

 

US Nondefense Capital Goods Orders ex Aircraft

 

US S&P Global Services PMI

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 30th March 2023:

 

Aviva

 

Phoenix Group Holdings

 

Taylor Wimpey

 

abrdn

 

Mondi

 

Smith & Nephew

 

InterContinental Hotels Group

 

UK 250 companies going ex-dividend on 30th March 2023:

 

Moneysupermarket.com Group

 

Fidelity European Trust

 

European Smaller Companies Trust

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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