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Morning Report - 9 June 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Hargreaves Lansdown PLC 858.4 3.2%
Entain PLC 1,300.0 1.6%
Ashtead Group PLC 5,354.0 1.3%
Abrdn PLC 217.6 1.2%
Kingfisher PLC 241.8 1.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
Vodafone Group PLC 74.1 -5.6%
Sainsbury (J) PLC 267.4 -3.8%
Wpp PLC 863.4 -2.6%
Endeavour Mining PLC 2,032.0 -2.4%
Johnson Matthey PLC 1,757.2 -2.2%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,602 -0.3% 0.3%
DOW JONES INDUS. AVG 33,748 0.3% 2.5%
DAX INDEX 15,999 0.2% 10.7%
NIKKEI 225 31,641 -0.9% 12.0%
S&P/ASX 200 INDEX 7,100 -0.3% 1.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.87 -0.91%
Brent Crude (ICE) USD/bbl. 76.41 -0.70%
Gold Spot USD/t oz. 1,968 1.5%
Copper (Comex) USd/lb. 380 1.0%
The UK 100 called to open +12 points at 7611.

4 hours; 5 Months

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Markets Overview:

The UK 100 called to open +12 points at 7611.  The UK 100 is expected to open higher on Friday after strong gains in the US as a rise in weekly jobless claims calmed nerves that the Federal Reserve might make a surprise rate rise next week.  the Dow Jones closed up 168.59 points, or 0.5%, to trade at 33,833.61. The S&P closed 26.41 points, or 0.6% higher, at 4,293.93. The Nasdaq was also up, adding 133.63 points, or 1.0%, to settle at 13,238.52.  A weaker than expected inflation reading in China should support sentiment with the consumer price index rising 0.2% on-year, below forecasts for growth of 0.3%.  Asian markets were higher. In Tokyo, the Nikkei 225 was up 1.7%. In China, the Shanghai Composite rose 0.1%, while the Hang Seng in Hong Kong added 0.5%.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca announces deal with Quell Therapeutics to develop T-regulatory cell therapies for which they will pay Quell $85m upfront and they will be eligible to receive over $2bn for further development from Astra.

 

 

Brookfield offers 400p in cash per Network International share for a total value of £2.2bn.

 

 

Croda International produces a pretax profit of £143m for the first five months of the year as they state that sales are up in Consumer Care compared to final quarter of 2022. They expect their FY pretax profit to be between £370-400m.

 

 

Diageo appoints Debra Crew as their CEO after Ivan Menezes’ recent death.

 

 

S4 Capital says forecasts for 2023 and 2024 global GDP growth have been continuously reduced to approximately 2-2.5%.

 

 

Broker Comments:

Barclays Upgrades Hammerson to Overweight from Underweight (3 Buys / 5 Holds / 2 Sells)

 

 

Stifel Upgrades B&M to Buy from Hold (6 Buys / 8 Holds / 2 Sells)

Reporting Today:

UK

 

None

 

US

 

NIO

Reporting Monday:

UK

 

None

 

US

 

Oracle

 

 

In Focus Today:

Chinese Consumer Price Index

 

 

Next Week's Ex-Dividends:

UK 100 companies going ex-dividend on 15th June 2023:

 

Land Securities Group

 

RS Group

 

UK 250 companies going ex-dividend on 15th June 2023:

 

Intermediate Capital Group

 

Digital 9 Infrastructure

 

Pets At Home Group

 

Computacenter

 

3i Infrastructure

 

Warehouse REIT

 

LXi REIT

 

AVI Global Trust

 

Balanced Commercial Property Trust

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