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Morning Report - 21 March 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Anglo American PLC 2,629.5 5.0%
Antofagasta PLC 1,515.5 5.0%
Glencore PLC 453.0 4.7%
International Consolidated Airlines Group S.A. 138.8 4.2%
Fresnillo PLC 739.4 4.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
Standard Chartered PLC 609.8 -3.8%
Barclays PLC 136.3 -2.4%
Scottish Mortgage Investment Trust PLC 659.1 -1.8%
Centrica PLC 100.0 -1.2%
Rentokil Initial PLC 543.8 -0.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,410 1.0% -1.7%
DOW JONES INDUS. AVG 32,083 0.7% -7.7%
DAX INDEX 14,945 1.2% 3.1%
NIKKEI 225 26,946 -1.4% 0.4%
S&P/ASX 200 INDEX 6,899 -1.4% -5.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 66.40 -0.51%
Brent Crude (ICE) USD/bbl. 72.74 -0.32%
Gold Spot USD/t oz. 1,977 -0.6%
Copper (Comex) USd/lb. 393 1.1%
The UK 100 called to open +41 points at 7453.

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +41 points at 7453. The UK 100 looks set to open higher extending Monday’s gains as the banking sector showed signs of stabilising and investors focus seems to be moving towards monetary policy moves in the US and the UK.  On Wall Street, the Dow Jones closed up 382.60 points, or 1.2%, at 32,244.58. The S&P gained 34.93 points, or 0.9% to end the day at 3,951.57 and the Nasdaq advanced 45.02 points, or 0.4%, to end at 11,675.54.

Company News & Broker Comments:

Company News:

Kingfisher reported a 20% fall in 2022-23 profit after the pandemic drove a record outcome in the previous year and forecast a further fall in its new financial year. They reported an adjusted operating profit of £758m in the year to Jan 31st 2023, versus guidance of £730-760m and £949m made in 2021-22.

 

 

Pearson sells Pearson Online Learning Services to Regent for undisclosed sum.

 

 

ScS says they are on track for an annual underlying pretax profit in line with market consensus of £7.7m.

 

 

Trustpilot reports 2022 revenue of $149m, up 23% from $131m YoY. Their 2022 pretax loss narrows to $15m from $26.6m YoY.

 

 

Broker Comments:

 

Redburn Downgrades Intercontinental Hotels to Sell from Neutral (5 Buys / 12 Holds / 1 Sell)

Reporting Today:

UK

 

Diversified Energy Company

 

Kingfisher

 

 

US

 

Nike

Reporting Tomorrow:

UK

 

Essentra

 

Vistry Group

 

US

 

None

 

 

In Focus Today:

EU ZEW Survey – Economic Sentiment

 

German ZEW Survey – Current Situation

 

German ZEW Survey – Economic Sentiment

 

This Week's Ex-Dividends:

UK 100 companies going ex-dividend on 23rd March 2023:

 

Schroders

 

British American Tobacco

 

Pearson

 

Prudential

UK 250 companies going ex-dividend on 20th March 2023:

 

Essentra

 

UK 250 companies going ex-dividend on 23rd March 2023:

 

OSB Group

 

CLS Holdings

 

Close Brothers Group

 

Hikma Pharmaceuticals

 

Hipgnosis Songs Fund

 

Chemring Group

 

HgCapital Trust

 

Volution Group

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