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Morning Report - 25 April 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Dowlais Group PLC 129.62 6.0%
Airtel Africa PLC 110.15 1.4%
Burberry Group PLC 2,646.00 1.4%
Associated British Foods PLC 2,075.00 1.4%
M&G PLC 202.90 1.4%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Ocado Group PLC 504.20 -2.4%
Fresnillo PLC 745.20 -2.0%
Anglo American PLC 2,505.50 -1.8%
Bt Group PLC 153.41 -1.4%
Scottish Mortgage Investment Trust PLC 636.00 -1.3%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,914 0.0% 5.2%
DOW JONES INDUS. AVG 33,817 0.0% 0.0%
DAX INDEX 15,866 -0.1% 12.4%
NIKKEI 225 28,594 0.1% 7.5%
S&P/ASX 200 INDEX 7,322 -0.1% -2.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.22 0.45%
Brent Crude (ICE) USD/bbl. 82.12 0.56%
Gold Spot USD/t oz. 1,984 0.1%
Copper (Comex) USd/lb. 397 -0.5%
The UK 100 called to open -22 points at 7890

4 hours; 5 Months

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Markets Overview:

The UK 100 called to open -22 points at 7890.  The UK’s blue chip index looks set to open in the red this morning, this comes after a broadly weaker session in Asia this morning, the Nikkei 225 index was up 0.1%. In China, the Shanghai Composite was down 1.2%, while the Hang Seng index in Hong Kong was down 2.1%.  It was a mixed session on Wall Street yesterday, the Dow closed Monday up 66 points at 33,875, while the Nasdaq dropped 35 points to close at 12,037 and the S&P added 4 points to end trade at 4,137.

Company News & Broker Comments:

Company News:

Anglo American Q1 2023 copper production +28%, steelmaking coal +59%, iron ore +15%, nickel +4% and metal in concentrate -6%.

 

 

Associated British Foods reported a 3% fall in H1 profit but has kept its guidance for a flat outcome in the FY. Their adjusted operating profit (its key measure) was £684m in the six months to March 4th.

 

 

GSK’s application for Jemperli in combination with chemotherapy validated by EMA.

 

 

IWG reports Q1 2023 revenue of £760m, up 20% YoY from £609m. They have signed 170 new centre contracts during Q1, as they keep their financial outlook unchanged.

 

 

Quilter report Q1 Assets Under Management of £101.9bn, below 2022 FY average of £102.8bn.

 

 

Whitbread reported that its annual profit is above pre-pandemic levels, buoyed by strong demand for accommodation and leisure travel in the wake of holiday periods fully devoid of COVID-19 restrictions. They reported an adjusted profit before tax of £413m for the 52-week period ended March 2nd, versus a loss of £15.8m a year earlier. They have announced a FY dividend of 74.2p, up from 34.7p YoY.

 

 

Broker Comments:

No new broker comments

 

Reporting Today:

UK

 

Associated British Foods

 

Travis Perkins

 

Whitbread

 

 

US

 

3M Co

 

General Electric

 

General Motors

 

McDonald's Corp

 

PepsiCo

 

Spotify Technology SA

 

Verizon Communications

 

Alphabet Inc C

 

Alphabet Inc A

 

Illumina

 

Microsoft Corp

 

Visa Inc Class A

Reporting Wednesday:

UK

 

Bunzl

 

CRH

 

Fresnillo

 

GSK

 

Reckitt Benckiser

 

Smith & Nephew

 

Standard Chartered

 

 

US

 

Automatic Data Processing

 

Boeing

 

CME Group

 

Thermo Fisher Scientific

 

Meta Platforms

 

QuantumScape

 

Roku Inc

 

ServiceNow Inc

 

 

In Focus Today:

US Housing Price Index

 

US S&P/Case-Shiller Home Price Indices

 

US Consumer Confidence

 

US New Home Sales

 

This Week's Ex-Dividends:

UK 100 companies going ex-dividend on 27th April 2023:

 

Legal & General Group

 

RELX

 

Fresnillo

 

Rightmove

 

Croda International

 

UK 250 companies going ex-dividend on 27th April 2023:

 

 

Bakkavor Group

 

Morgan Sindall Group

 

Derwent London

 

Sequoia Economic Infrastructure Inc Fnd

 

Coats Group

 

Bridgepoint Group

 

Greggs

 

City of London Investment Trust

 

Senior

 

Bankers Investment Trust

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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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