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Morning Report - 2 May 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Prudential PLC 1,211.5 4.2%
Pearson PLC 887.0 3.8%
Smurfit Kappa Group PLC 2,942.0 3.4%
London Stock Exchange Group PLC 8,346.0 3.2%
Segro PLC 834.8 3.0%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Natwest Group PLC 262.0 -3.8%
Diageo PLC 3,622.0 -2.5%
Antofagasta PLC 1,460.5 -1.9%
Ocado Group PLC 505.2 -1.5%
Weir Group PLC 1,840.0 -1.5%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,871 0.5% 4.3%
DOW JONES INDUS. AVG 34,052 -0.1% 3.0%
DAX INDEX 15,922 0.8% 12.9%
NIKKEI 225 29,158 0.1% 8.7%
S&P/ASX 200 INDEX 7,267 -0.9% -1.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 75.55 -0.15%
Brent Crude (ICE) USD/bbl. 79.21 -0.13%
Gold Spot USD/t oz. 1,984 0.1%
Copper (Comex) USd/lb. 393 0.0%
The UK 100 called to open +16 points at 7886

4 hours; 5 Months

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Markets Overview:

The UK 100 called to open +16 points at 7886.  The UK 100 looks set to make a positive start to the week following the Bank Holiday, In the US on Monday, Wall Street ended lower, with the Dow Jones down 0.1%, the S&P marginally lower, and the Nasdaq Composite down 0.1%.

Company News & Broker Comments:

Company News:

AstraZeneca: FDA recognises good benefit risk profile for Astra’s Lynparza prostate cancer treatment.

 

 

BHP Group completes the acquisition of Oz Minerals for AUD 9.6bn.

 

 

BP made a $5bn profit for Q1, rising from the previous quarter after the company pared back their share buyback programme. The results beat analyst expectations of a $4.3bn quarterly profit.

 

 

Ferrexpo CEO Jim North will step down from his role on June 30th.

 

 

HSBC reported a 212% increase in quarterly profit, as they benefitted from rising interest rates around the world. They posted a Q1 pretax profit of $12.9bn, versus $4.2bn a year earlier. The results were better than the $8.64bn from average analyst estimates. Their headline profit was boosted by a reversal of $2bn impairment it took against the planned sale of its French business, reflecting the fact that the deal may no longer go through. They also announced the first of a new cycle of share buybacks of up to $2bn and a dividend of $0.10 per share, its first quarterly dividend since 2019.

 

 

Mitie buys specialist in security services R H Irving Industrials for £19.1m.

 

 

Wizz Air carries 4.9m passengers in April, +32% YoY with a load factor of 90.9%.

 

 

Broker Comments:

 

HSBC Upgrades Rightmove to Buy from Hold (6 Buys / 10 Holds / 3 Sells)

Reporting Today:

UK

 

BP

 

HSBC

 

 

US

 

Pfizer

 

Advanced Micro Devices

 

Airbnb

 

Ford Motor Co

 

Starbucks Corp

Reporting Wednesday:

UK

 

Barratt Developments

 

Coca-Cola HBC

 

Flutter Entertainment

 

Haleon

 

TI Fluid Systems

 

Lloyds Banking Group

 

 

US

 

Barrick Gold

 

The Estee Lauder Companies

 

The Kraft Heinz Co

 

Etsy

 

Qualcomm Inc

 

Uber Technologies

 

 

 

In Focus Today:

 

German Retail Sales

 

German HCOB Manufacturing PMI

 

ECB Bank Lending Survey

 

UK S&P Global/CIPS Manufacturing PMI

 

ECB Bank Lending Survey

 

EU Core Harmonized Index of Consumer Prices

 

US Factory Orders

 

This Week's Ex-Dividends:

UK 100 companies going ex-dividend on 4th May 2023:

 

Glencore

 

St. James's Place

 

Admiral Group

 

Hiscox

 

UK 250 companies going ex-dividend on 4th May 2023:

 

4imprint Group

 

Lancashire Holdings

 

Edinburgh Investment Trust

 

BlackRock World Mining Trust

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