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This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 4 April 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Shell PLC 2,409.5 4.4%
BP PLC 532.9 4.3%
Imperial Brands PLC 1,910.5 2.5%
Centrica PLC 108.4 2.2%
Barclays PLC 148.4 1.8%
Yesterday’s UK 100 Laggards Price (p) % Chg
Glencore PLC 452.0 -2.7%
International Consolidated Airlines Group S.A. 147.1 -2.6%
Beazley PLC 585.0 -2.1%
Jd Sports Fashion PLC 174.4 -1.9%
United Utilities Group PLC 1,041.0 -1.8%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,669 0.5% 2.0%
DOW JONES INDUS. AVG 33,478 0.6% -3.9%
DAX INDEX 15,563 -0.4% 8.4%
NIKKEI 225 28,188 0.5% 1.6%
S&P/ASX 200 INDEX 7,223 0.6% -3.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 80.10 5.85%
Brent Crude (ICE) USD/bbl. 84.42 5.67%
Gold Spot USD/t oz. 1,989 1.0%
Copper (Comex) USd/lb. 405 -1.1%
The UK 100 called to open +23 points at 7696. 

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +23 points at 7696.  The UK 100 looks set to open higher this morning after the Australian central Bank decided to pause rate hikes to provide additional time to assess the impact of previous interest rate hikes.  This decision saw Asian markets mainly higher this morning, in Tokyo, the Nikkei 225 index was up 0.3%. The Shanghai Composite was up 0.3%, but the Hang Seng index in Hong Kong was down 1.0%. The S&P/ASX 200 in Sydney closed up 0.1%.  US stocks closed mixed on Monday as soaring oil prices supported the blue chips but knocked tech stocks. The rise in the oil prices raised inflationary concerns prompting worries interest rates would stay higher for longer.  The Dow Jones ended up 1.0% and the S&P 500 up 0.4%, but the Nasdaq Composite lost 0.3%

Company News & Broker Comments:

Company News:

BAE Systems & Lockheed Martin Corp have won a F-35 jet maintenance support contract worth £161m, creating 140 jobs in Britain.

 

 

Investec Wealth & Rathbones Group agree an all-share merger.

 

 

Saga swung to a FY profit as demand for its cruise and tour bookings remained robust, although its insurance unit continued to drag. They reported an underlying pretax profit of £21.5m for the year ended Jan 31st, versus a loss of £6.7m a year ago.

 

 

Broker Comments:

Jefferies Downgrades Petrofac to Hold from Buy (4 Buys / 4 Holds / 0 Sells)

 

 

JP Morgan Upgrades Auto Trader to Neutral from Underweight (8 Buys / 9 Holds / 0 Sells)

 

 

Keefe Bruyette & Woods Upgrades Virgin Money to Outperform (9 Buys / 11 Holds / 1 Sell)

 

 

Morgan Stanley Downgrades Pennon Group to Equal Weight (2 Buys / 6 Holds / 1 Sell)

 

Reporting Today:

UK

 

Merchants Trust

 

Saga

 

 

US

 

None

Reporting Tuesday:

UK

 

RS Group

 

 

US

 

None

 

 

In Focus Today:

German Trade Balance s.a.

 

US Factory Orders

 

This Week's Ex-Dividends:

UK 100 companies going ex-dividend on 6th April 2023:

 

Barratt Developments

 

Reckitt Benckiser Group

 

ConvaTec Group

 

Rentokil Initial

 

Smiths Group

 

F&C Investment Trust

 

UK 250 companies going ex-dividend on 6th April 2023:

 

Man Group

 

Savills

 

Travis Perkins

 

International Public Partnerships

 

Domino's Pizza Group

 

Howden Joinery Group

 

Mercantile Investment Trust

 

Murray International Trust

 

Games Workshop Group

 

VinaCapital Vietnam Opportunity Fund

 

IMI

 

RIT Capital Partners

 

Finsbury Growth & Income 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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