Getting latest data loading
Home / Morning Report / Morning Report – 27th April 2023

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

Morning Report - 27 April 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Persimmon PLC 1,299.0 5.1%
Taylor Wimpey PLC 125.4 3.5%
Barratt Developments PLC 495.0 3.0%
Standard Chartered PLC 636.6 2.6%
Glencore PLC 480.9 2.5%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Spirax-Sarco Engineering PLC 10,945.0 -5.1%
Crh PLC 3,868.0 -3.8%
Astrazeneca PLC 11,838.0 -3.7%
Gsk PLC 1,447.4 -3.5%
Reckitt Benckiser Group PLC 6,304.0 -3.0%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,841 -0.6% 6.6%
DOW JONES INDUS. AVG 33,431 -0.3% 0.6%
DAX INDEX 15,762 -0.7% 14.9%
NIKKEI 225 28,416 -0.7% 7.7%
S&P/ASX 200 INDEX 7,316 -0.1% 0.8%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 76.33 -0.96%
Brent Crude (ICE) USD/bbl. 79.75 -1.26%
Gold Spot USD/t oz. 1,999 0.1%
Copper (Comex) USd/lb. 388 0.4%
The UK 100 called to open -19 points at 7833. 

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -19 points at 7833.  The UK 100 is expected to open lower as worries over economic growth saw Wall Street lower, the Dow Jones closed Wednesday down 229 points at 33,302, while the Nasdaq added 55 points to 11.854 and the S&P shed 16 points, to 4,056.  In Asia, the Nikkei 225 index was flat. In China, the Shanghai Composite was up 0.4%, while the Hang Seng index in Hong Kong was up 0.2%. In focus today will be the weekly unemployment claims report and GDP data in the US this afternoon.

Company News & Broker Comments:

Company News:

AstraZeneca beat expectations for its Q1 revenue, helped by sales of some of its oncology as well as rare blood disorder drugs. They reported an adjusted profit of $1.92 per share on sales of around $10.9bn. Analysts on average were expecting $1.71 per share on sales of about $10.6bn.

 

 

Barclays reported a Q1 profit that exceeded expectations as a resilient performance from its consumer bank offset pressure on other key business lines. They reported a pretax profit of £2.6bn, above average analyst forecasts of £2.2bn and higher than the £2.2bn it reported in the same period a year ago.

 

 

GlaxoSmithKline receives positive opinion from EMA body for respiratory syncytial virus vaccine.

 

 

Howden Joinery is on track to meet expectations for 2023.

 

 

London Stock Exchange report Q1 2023 total income of £2.01bn, up from £1.75bn YoY. They reiterate guidance of 6-8% total income growth for 2023.

 

 

Sainsbury reported an expected 5% fall in FY profit and forecast the outcome for this year would be above analysts' consensus expectations. Their underlying pretax profit came in at £690m in the year to March 4th, at the top end of guidance but down from the £730m made in 2021/22. They have forecast a FY 2023/24 profit of between £640-700m, ahead of analysts' average forecast of £631m.

 

 

Taylor Wimpey state that buyer interest has risen over the past few months, helped by improvement in mortgage rates and sales rate. Net private sales rate for the year to April 23 was 0.75 units, up from 0.62 reported for the first eight weeks of 2023.

 

 

Unilever reported better than expected quarterly underlying sales as they raised prices to compensate for higher commodity and supply chain costs. They reported a 10.5% rise in underlying sales to £14.8bn euros, beating analysts' average forecast for a 7.2% increase.

 

 

Weir Group report Q1 orders +4%, OE orders +22% and AM order flat YoY as they state that mining market conditions are positive.

 

 

WPP have made a good start to the year as they reported an underlying rise in Q1 revenue less pass-through costs of 2.9%, which it said put it on course for FY targets. Total revenue came in at £3.46bn, +4.9% on a L-f-L basis.

 

 

Broker Comments:

HSBC Downgrades Smith & Nephew to Hold (7 Buys / 3 Holds / 2 Sells)

 

 

JP Morgan places Wizz Air on Positive Catalyst watch (9 Buys / 3 Holds / 3 Sells)

 

 

JP Morgan Upgrades EasyJet to Neutral from Underweight (8 Buys / 5 Holds / 1 Sell)

 

Reporting Today:

UK

 

AstraZeneca

 

Barclays

 

Capricorn Energy

 

GCP Infrastructure Investments

 

Howden Joinery

 

Inchcape

 

London Stock Exchange Group

 

Sainsbury (J)

 

Schroders

 

Spectris

 

Taylor Wimpey

 

Unilever

 

WPP

 

 

US

 

AbbVie

 

Bristol-Myers Squibb

 

Caterpillar Inc

 

Eli Lilly and Co

 

Mastercard

 

Merck & Co

 

Amazon.com

 

Amgen

 

Gilead Sciences

 

Intel Corp

 

Mondelez

 

Pinterest

 

Snap Inc A

Reporting Friday:

UK

 

Morgan Advanced Minerals

 

Natwest Group

 

Puretech Health

 

Rotork

 

Smurfit Kappa Group

 

 

US

 

Aon

 

Chevron

 

Exxon Mobil

 

 

In Focus Today:

EU Business Climate

 

EU Consumer Confidence

 

US Core Personal Consumption Expenditures

 

US Gross Domestic Product Annualized

 

US Initial Jobless Claims

 

US Pending Home Sales

 

Japanese Jobs / Applicants Ratio

 

Tokyo Consumer Price Index

 

Japanese Unemployment Rate

 

Japanese Industrial Production

 

Japanese Large Retailer Sales

 

Japanese Retail Trade

 

This Morning'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

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.


Back to Top

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.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.