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Morning Report - 10 May 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
International Consolidated Airlines Group S.A. 155.8 3.5%
Flutter Entertainment PLC 15,820.0 2.3%
Relx PLC 2,479.0 1.9%
Beazley PLC 590.5 1.6%
Intercontinental Hotels Group PLC 5,492.0 1.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Unite Group PLC 908.5 -4.5%
Ocado Group PLC 475.0 -4.1%
Land Securities Group PLC 644.6 -3.2%
Dcc PLC 4,714.0 -3.1%
British Land Company PLC 386.9 -2.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,764 -0.2% 7.2%
DOW JONES INDUS. AVG 33,562 -0.2% 4.4%
DAX INDEX 15,955 0.0% 17.9%
NIKKEI 225 29,122 -0.4% 11.3%
S&P/ASX 200 INDEX 7,256 -0.1% 2.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 73.10 -0.83%
Brent Crude (ICE) USD/bbl. 76.81 -0.81%
Gold Spot USD/t oz. 2,030 -0.2%
Copper (Comex) USd/lb. 389 -0.3%
The UK 100 called to open +6 points at 7770.

4 hours; 5 Months

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Markets Overview:

The UK 100 called to open +6 points at 7770.   The UK 100 looks set to open broadly unchanged this morning, focus today will be on key US inflation data as investors look for further indication on any further potential interest rate rises from the Fed.  On Wall Street yesterday, the Dow Jones Industrial Average fell 56.88 points, or 0.2% to end at 33,561.81. The S&P lost 18.95 points to trade at 4,119.17 points while the Nasdaq fared worst falling 77.37 points or 0.6%, to close the session at 12,179.55.  In Asia on Wednesday, the Nikkei 225 index in Tokyo was down 0.3%. In China, the Shanghai Composite declined 1.5%, while the Hang Seng index in Hong Kong fell 0.7%.

Company News & Broker Comments:

Company News:

ASOS swung to a H1 loss, hurt by a squeeze on household budgets, but said that they were confident of a return to profit in H2 and beyond. They reported an adjusted loss before tax of £87.4m in H1, versus a profit of £14.8m in the same period last year.

 

 

Burberry confirms Kate Ferry is to start as their new CFO on July 17th.

 

 

JD Wetherspoon says their Easter weekend sales were the highest-ever.

 

 

Melrose says they are to continue as a pureplay aerospace firm. They expect their 2023 adjusted operating profit to be between £340-360m.

 

 

National Express group are to change their name to Mobico Group from early June.

 

 

TUI state that they expect “significantly” higher operating profit in 2023, helped by strong bookings for the summer. Bookings for the summer season are currently 13% ahead of last year and 96% of its 2019, or pre-pandemic levels.

 

 

Broker Comments:

No new broker comments

 

Reporting Today:

UK

 

ASOS

 

Compass Group

 

Spirax-Sarco Engineering

 

Tui

 

 

US

 

The Trade Desk

 

Unity Software

 

The Walt Disney Co

Reporting Thursday:

UK

 

3i Infastructure

 

Airtel Africa

 

Grainger

 

ITV

 

TBC Bank Group

 

 

US

 

Fiverr International

 

Takeda Pharmaceutical

 

 

 

In Focus Today:

 

German Harmonized Index of Consumer Prices

 

Chinese FDI - Foreign Direct Investment

 

US Consumer Price Index

 

US Monthly Budget Statement

 

Japanese Current Account n.s.a.

 

Tomorrow's Ex-Dividends:

UK 100 companies going ex-dividend on 11th May 2023:

 

Tesco

 

HSBC Holdings

 

BP

 

UK 250 companies going ex-dividend on 11th May 2023:

 

SThree

 

Serco Group

 

Clarkson

 

Inchcape

 

Barr (A.G.)

 

Petershill Partners

 

TBC Bank Group

 

GCP Infrastructure Investments

 

Fidelity Special Values

 

Greencoat UK Wind

 

Target Healthcare REIT

 

Balanced Commercial Property Trust

 

Renewables Infrastructure Group

 

Tritax Big Box REIT

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