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Morning Report - 2 June 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Fresnillo PLC 677.2 4.5%
B&M European Value Retail S.A. 529.4 3.8%
Melrose Industries PLC 488.4 3.6%
Anglo American PLC 2,299.5 3.4%
Prudential PLC 1,091.0 3.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
National Grid PLC 1,055.0 -4.6%
Ocado Group PLC 352.4 -4.5%
Auto Trader Group PLC 608.6 -3.4%
Severn Trent PLC 2,707.0 -2.4%
London Stock Exchange Group PLC 8,458.0 -1.1%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,490 0.6% -0.6%
DOW JONES INDUS. AVG 33,062 0.5% -0.6%
DAX INDEX 15,854 1.2% 9.5%
NIKKEI 225 31,524 1.2% 15.0%
S&P/ASX 200 INDEX 7,145 0.5% -0.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 70.85 1.07%
Brent Crude (ICE) USD/bbl. 75.10 1.10%
Gold Spot USD/t oz. 1,978 0.0%
Copper (Comex) USd/lb. 374 0.8%
The UK 100 called to open +40 points at 7530.

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +40 points at 7530.  The UK 100 looks set to open firmly higher on Friday after the Senate passed legislation allowing the US to avoid an unprecedented debt default, sparking strong gains in Asian markets.  In Tokyo this morning, the Nikkei 225 index was up 1.1%. The Shanghai Composite was up 0.8%, while the Hang Seng index in Hong Kong was up 3.7%.  Yesterday saw US stocks also close higher. The Dow Jones rose 153.30 points, to end at 33,061.57. The S&P 500 gained 41.19 points to settle at 4,221.02 and the Nasdaq Composite jumped 165.70 points at 13,100.98.

Company News & Broker Comments:

Company News:

Dechra Pharmaceuticals reaches an agreement with EQT on recommended cash acquisition which they intend to recommend to its shareholders. They state that the offer is for 3,875p in cash per share which implies an enterprise value of £4.88bn.

 

 

International Consolidated Airlines Group SA have been fined almost £1m by the US government over claims it failed to pay refunds for cancelled flights during the COVID pandemic.

 

 

Informa: Bank of America’s stake in Informa falls to 1.1% from 8.8%.

 

 

Ryanair’s May traffic grows 10% to 17m guests, up from 15.4m guests YoY.

 

 

Wizz Air reports May 2023 passengers of 5m, up 22% from 4.1m YoY. Their rolling 12 months to May 31st passenger numbers of 59.8m were up 43% from 41.8m YoY.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

None

 

US

 

None

Reporting Tomorrow:

UK

 

Sirius Real Estate

 

US

 

None

 

 

In Focus Today:

US Average Hourly Earnings

 

US Labor Force Participation Rate

 

US Nonfarm Payrolls

 

US Unemployment Rate

 

Next Week's Ex-Dividends:

UK 100 companies going ex-dividend on 8th June 2023:

 

Vodafone Group

 

Sainsbury (J)

 

Johnson Matthey

 

WPP

 

Centrica

 

Compass Group

 

UK 250 companies going ex-dividend on 8th June 2023:

 

RHI Magnesita N.V.

 

FDM Group (Holdings)

 

Dr. Martens

 

Morgan Advanced Materials

 

C&C Group

 

Energean

 

Assura

 

IntegraFin Holdings

 

AJ Bell

 

Edinburgh Investment Trust

 

Worldwide Healthcare 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.


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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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