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Home / Morning Report / Morning Report – 25th May 2023

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Morning Report - 25 May 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Intertek Group PLC 4,333 3.36%
Ocado Group PLC 411.8 2.29%
SSE PLC 1,900 1.63%
Fresnillo PLC 661.2 0.79%
Airtel Africa PLC 117.6 0.34%
Yesterday’s UK 100 Laggards Price (p) % Chg
Prudential PLC 1,101.5 -5.94%
Aviva PLC 398.9 -5.88%
Persimmon PLC 1,215 -5.52%
Phoenix Group Holdings PLC 555 -4.57%
Taylor Wimpey PLC 117.5 -4.55%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,627 -1.8% 1.4%
DOW JONES INDUS. AVG 32,800 -0.8% 2.1%
DAX INDEX 15,842 -1.9% 13.1%
NIKKEI 225 30,801 0.4% 15.4%
S&P/ASX 200 INDEX 7,138 -1.1% -0.2%


Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 73.88 -0.62%
Brent Crude (ICE) USD/bbl. 77.99 -0.47%
Gold Spot USD/t oz. 1,957 0.0%
Copper (Comex) USd/lb. 356 -0.1%
The UK 100 called to open -7 points at 7619.   

4 hours; 5 Months

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Markets Overview:

The UK 100 called to open -7 points at 7619.   The UK 100 looks set to stabilise this morning, this follows the sharpest one day fall since March yesterday,  however better than expected results from Nvidia after the US market closed lifted the mood despite the continuing deadlock in US debt ceiling talks.  The impact of a US default was reflected as credit ratings agency Fitch Ratings put the US on negative watch reflecting the impasse in Washington.  Flitch however did say, “Fitch still expects a resolution to the debt limit before the x-date.”  On Wall Street earlier, the Dow Jones fell 255.59 points, or 0.8%, to end at 32,799.92. The S&P declined 30.34 points or 0.7%, to end the session at 4,115.24 and the Nasdaq Composite slid 76.08 points, 0.6%, to trade at 12,484.16.

Company News & Broker Comments:

Company News:

AJ Bell reports a H1 FY23 pretax profit of £41.9m, +61% YoY from £26.1m previously. They have increased their H1 dividend by 26% to 3.50p per share.



British Land CEO Simon Carter buys 42,592 shares at 356.86p each.



Fevertree Drinks says they have made a good start to the year and trading is in line with expectations as they confirm their EBITDA guidance of £36-42m for FY23.



Johnson Matthey reported a fall in annual profit as they were hit by higher costs and lower average precious metal prices. They reported an underlying operating profit of £465m for the year ended March 31st, down 21% YoY. Analysts were expecting an operating profit of £455.1m according to company-compiled estimates.



Tate & Lyle reports a FY pretax profit of £196m as they recommend a final dividend of 13.1p per share, up 2.5% YoY. They expect to deliver revenue growth of around 4-6% and adjusted EBITDA growth of 7-9%.



United Utilities reports a FY underlying pretax loss of £34.3m, down from a £301.9m profit YoY.



Vanquis Banking reports a positive start to 2023 with trading in-line with expectations.



Broker Comments:

No new broker comments


Reporting Today:



AJ Bell


Caledonia Investments


Edinburgh Investment Trust


Hill & Smith Holdings


Intermediate Capital Group


Johnson Matthey


Pets at Home Group


QinetiQ Group


Tate & Lyle


United Utilities Group


Vanquis Banking Group


Workspace Group





Alibaba Group






Costco Wholesale


Reporting Tomorrow:



Harbourvest Global Private Equity


IntegraFin Holdings


Worldwide Healthcare Trust







In Focus Today:

German Gfk Consumer Confidence Survey


German Gross Domestic Product


Chicago Fed National Activity Index


US Gross Domestic Product Annualized


US Initial Jobless Claims


US Pending Home Sales


Tokyo Consumer Price Index


Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 25th May 2023:




Intertek Group




UK 250 companies going ex-dividend on 25th May 2023:


Diversified Energy Company




IP Group


TI Fluid Systems




Spire Healthcare Group

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