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Morning Report - 8 March 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Melrose Industries PLC 163.0 3.9%
Ashtead Group PLC 5,874.0 2.2%
Beazley PLC 623.0 2.1%
Flutter Entertainment PLC 14,250.0 2.0%
Rentokil Initial PLC 520.0 1.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Fresnillo PLC 708.4 -6.8%
Ocado Group PLC 505.0 -4.7%
Glencore PLC 479.5 -4.6%
Endeavour Mining PLC 1,685.0 -3.3%
Antofagasta PLC 1,591.0 -2.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,919 -0.1% 13.7%
DOW JONES INDUS. AVG 32,856 -1.7% 0.7%
DAX INDEX 15,560 -0.6% 21.2%
NIKKEI 225 28,444 0.5% 14.7%
S&P/ASX 200 INDEX 7,308 -0.8% 4.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 77.13 -0.58%
Brent Crude (ICE) USD/bbl. 82.93 -0.43%
Gold Spot USD/t oz. 1,814 0.0%
Copper (Comex) USd/lb. 397 -0.1%
The UK 100 called to open -20 points at 7889.

1 Day; 2 Years

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Markets Overview:

The UK 100 called to open -20 points at 7889.  The UK 100 looks set to open lower this morning after stocks sold off on Tuesday on Wall Street, after Jerome Powell’s comments on Capitol Hill, saying, "The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,". This lead to The Dow Jones shedding 574.98 points, or 1.72%, to end at 32,856.46. The S&P lost 1.53% to close at 3,986.37 and below the 4,000 level. The Nasdaq Composite 1.25% to settle at 11,530.33.

Company News & Broker Comments:

Company News:

 

 

Admiral Group Plc this morning slashed the full-year dividend by 40% as it unveiled a sharp fall in profit hit by a weak showing in its motor division.

 

 

Darktrace reiterated its earnings and revenue guidance for the year to end June 2023, though it reduced its cash forecast due to the vesting of incentive shares for its two executive directors.

 

Legal & General Group PLC reported strong growth in profit in 2022, raised its dividend by 5% and said it remained on track to deliver its five-year strategic ambitions.

 

 

 

 

Broker Comments:

No New Broker Comments.

Reporting Today:

UK

 

Admiral Group

 

Bakkavor Group

 

CLS Holding

 

Darktrace

 

Hill & Smith Holdings

 

IP Group

 

Ibstock

 

Legal & General Group

 

Quilter

 

Spirent Communications

 

Tullow Oil

 

 

US

 

Asana

Reporting Tomorrow:

UK

 

Aviva

 

ConvaTec

 

Digital 9 Infastructure

 

Entain

 

Hammerson

 

Informa

 

M&G

 

Network International Holdings

 

Page Group

 

Spirax-Sarco Engineering

 

Volution Group

 

 

US

 

DocuSign

 

 

 

 

 

In Focus Today:

German Retail Sales

 

EU Gross Domestic Product s.a.

 

US ADP Employment Change

 

US Goods and Services Trade Balance

 

Fed's Chair Powell testifies

 

Fed's Beige Book

 

Japanese Gross Domestic Product

 

Tomorrow's Ex-Dividends:

UK 100 companies going ex-dividend on 9th March 2023:

 

Rio Tinto

 

Beazley

 

Melrose Industries

UK 250 companies going ex-dividend on 9th March 2023:

 

BlackRock World Mining Trust

 

Apax Global Alpha

 

Energean

 

SDCL Energy Efficiency Income Trust

 

Assura

 

Warehouse REIT

 

PZ Cussons

 

Tritax Big Box REIT

 

LondonMetric Property

 

Law Debenture Corporation

 

Alliance Trust

 

Dechra Pharmaceuticals

 

Renishaw

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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