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Morning Report - 1 June 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
B&M European Value Retail S.A. 509.8 8.0%
Endeavour Mining PLC 2,152.0 5.8%
Sage Group PLC 871.0 1.7%
Astrazeneca PLC 11,660.0 1.4%
Auto Trader Group PLC 630.0 1.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
Prudential PLC 1,056.0 -6.1%
Ocado Group PLC 369.0 -5.8%
Entain PLC 1,319.0 -4.0%
Abrdn PLC 198.5 -3.0%
Barclays PLC 151.3 -2.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,446 -1.0% -1.2%
DOW JONES INDUS. AVG 32,908 -0.4% 0.3%
DAX INDEX 15,664 -1.5% 9.2%
NIKKEI 225 31,148 0.8% 13.4%
S&P/ASX 200 INDEX 7,111 0.3% -1.7%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.45 0.53%
Brent Crude (ICE) USD/bbl. 72.66 -1.20%
Gold Spot USD/t oz. 1,961 -0.1%
Copper (Comex) USd/lb. 368 1.3%
The UK 100 called to open +20 points at 7464.

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +20 points at 7464. The UK 100 looks set to open firmer this morning after The House of Representatives passed a bill to raise the US debt ceiling bringing the US closer to avoiding a default.  The bill must still pass the Senate and be signed by President Joe Biden to go into effect before the June 5 deadline, but the House vote was seen as the biggest risk.  On Wall Street, the Dow Jones fell 134.51 points, to settle at 32,908.27. The S&P gave up 25.53 points to end at 4,179.83 while the Nasdaq Composite ended its winning run, declining 82.14 points, to trade at 12,935.28.  In Asia this morning , markets pushed higher. The Nikkei index in Tokyo was up 0.7%. In China, the Shanghai Composite was up 0.3%, while the Hang Seng index in Hong Kong was up 0.8%.

Company News & Broker Comments:

Company News:

AstraZeneca says Lynparza plus abiraterone have been approved in the US for treatment of prostate cancer.

 

 

Autotrader Group reports that their FY Group revenue increased 16% to £500.2m and their FY adjusted EBITDA increased 7% to £328m. The board is confident of meeting its growth expectations for the year.

 

 

Pennon Group reported an 88% slump in annual profit due to extreme weather patterns and lower demand during the winter months, at a time when customers were grappling with high power bills. They have allocated £160m for investment in renewable energy generation.

 

 

Broker Comments:

Morgan Stanley Upgrades Convatec to Overweight from Equal weight (9 Buys / 5 Holds / 1 Sell)

Reporting Today:

UK

 

Auto Trader Group

 

Dr Martens

 

Pennon Group

 

US

 

Asana

 

Broadcom

 

ChargePoint Holdings

 

MongoDB

 

Zscaler

Reporting Tomorrow:

UK

 

None

 

US

 

None

 

 

In Focus Today:

Chinese Caixin Manufacturing PMI

 

German Retail Sales

 

German HCOB Manufacturing PMI

 

UK S&P Global/CIPS Manufacturing PMI

 

EU Core Harmonized Index of Consumer Prices

 

EU Harmonized Index of Consumer Prices

 

EU Unemployment Rate

 

ECB Monetary Policy Meeting Accounts

 

US ADP Employment Change

 

US Initial Jobless Claims

 

US Initial Jobless Claims 4-week average

 

US S&P Global Manufacturing PMI

 

US ISM Manufacturing PMI

 

This Morning's Ex-Dividends:

UK 100 companies going ex-dividend on 1st June 2023:

 

National Grid

 

Severn Trent

 

Informa

 

Sage Group

 

Associated British Foods

 

Scottish Mortgage Investment Trust

 

UK 250 companies going ex-dividend on 1st June 2023:

 

Keller Group

 

Marshalls

 

Hilton Food Group

 

Centamin

 

Hill & Smith

 

Great Portland Estates

 

JLEN Environmental Assets Group

 

LondonMetric Property

 

Capital Gearing Trust

 

Temple Bar Investment Trust

 

JTC

 

Law Debenture Corporation

 

JPMorgan Global Growth & Income

 

Alliance Trust

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