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Morning Report - 26 May 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Centrica PLC 116.4 2.5%
Pershing Square Holdings LTD 2,744.0 2.1%
Scottish Mortgage Investment Trust PLC 657.0 1.9%
Admiral Group PLC 2,321.0 1.8%
Ashtead Group PLC 4,860.0 1.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Coca-Cola Hbc AG 2,378.0 -4.9%
Imperial Brands PLC 1,727.5 -3.9%
Frasers Group PLC 681.0 -3.5%
Dcc PLC 4,712.0 -3.2%
Kingfisher PLC 233.0 -3.1%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,571 -0.7% 0.1%
DOW JONES INDUS. AVG 32,765 -0.1% 0.4%
DAX INDEX 15,794 -0.3% 11.0%
NIKKEI 225 30,916 0.4% 16.2%
S&P/ASX 200 INDEX 7,155 0.2% 0.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 72.01 0.25%
Brent Crude (ICE) USD/bbl. 76.33 0.09%
Gold Spot USD/t oz. 1,951 0.5%
Copper (Comex) USd/lb. 365 1.7%
The UK 100 called to open +17 points at 7587. 

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +17 points at 7587.   A positive start is expected in London today, this comes after it was reported overnight by Reuters, that Republican and White House negotiators are moving closer to an agreement to raise the debt limit and cap federal spending for two years, according to people familiar with the matter, as time grows short to avert a catastrophic US default.  This has led to Asian markets being higher in Friday morning trading, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3%, the Nikkei added 0.7% while markets in Hong Kong are closed today.  It was a mixed session on Wall Street yesterday, the S&P 500 gained 0.88%, while the Nasdaq surged 1.77% higher, soured on by stronger than expected results from chip maker Nvidia, the Dow Jones however declined by 0.11%.

Company News & Broker Comments:

Company News:

ASOS plans to boost its balance sheet through a new long-term £275m financing facility alongside a £75m placing as it continues to restructure the business.

 

 

Hurricane Energy report a pretax profit of £108.7m down from £188.2m YoY.

 

 

OnTheMarket names Tom Carter as their new CFO with effect from the 3rd of July.

 

 

Broker Comments:

Morgan Stanley Upgrades Rio Tinto to Overweight (5 Buys / 11 Holds / 2 Sells)

 

 

RBC Downgrades Halfords Group to Sector Perform from Outperform (1 Buy / 3 Holds / 0 Sells)

 

Reporting Today:

UK

 

Harbourvest Global Private Equity

 

IntegraFin Holdings

 

Worldwide Healthcare Trust

 

 

US

 

None

 

Reporting Monday:

UK

 

None

 

US

 

None

 

 

In Focus Today:

UK Retail Sales

 

US Core Personal Consumption Expenditures – Price Index

 

US Durable Goods Orders

 

US Nondefense Capital Goods Orders ex Aircraft

 

US Personal Income

 

US Personal Spending

 

Michigan Consumer Sentiment Index

 

US UoM 5-year Consumer Inflation Expectation

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 1st June 2023:

 

National Grid

 

Severn Trent

 

Informa

 

Sage Group

 

Associated British Foods

 

Scottish Mortgage Investment Trust

 

UK 250 companies going ex-dividend on 1st June 2023:

 

Keller Group

 

Marshalls

 

Hilton Food Group

 

Centamin

 

Hill & Smith

 

Great Portland Estates

 

JLEN Environmental Assets Group

 

LondonMetric Property

 

Capital Gearing Trust

 

Temple Bar Investment Trust

 

JTC

 

Law Debenture Corporation

 

JPMorgan Global Growth & Income

 

Alliance 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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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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