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Morning Report - 14 June 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Glencore PLC 459.9 5.3%
Antofagasta PLC 1,510.8 3.8%
Anglo American PLC 2,489.0 3.0%
Rio Tinto PLC 5,211.0 2.8%
Fresnillo PLC 663.6 2.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Admiral Group PLC 2,210.4 -5.1%
Persimmon PLC 1,170.0 -4.1%
Taylor Wimpey PLC 110.7 -3.4%
Segro PLC 753.2 -3.4%
Barratt Developments PLC 454.5 -2.3%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,599 0.4% 5.1%
DOW JONES INDUS. AVG 34,189 0.4% 12.1%
DAX INDEX 16,217 0.7% 20.4%
NIKKEI 225 33,019 1.8% 24.0%
S&P/ASX 200 INDEX 7,139 0.2% 3.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 69.60 3.69%
Brent Crude (ICE) USD/bbl. 74.42 3.59%
Gold Spot USD/t oz. 1,951 -0.4%
Copper (Comex) USd/lb. 383 2.2%
The UK 100 called to open -13 points at 7581

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -13 points at 7581.  The UK 100 looks set to post modest losses when trading starts on Wednesday ahead of the interest rate decision in the US, due after the London close.  US stocks closed Tuesday in the green, taking heart from lower than expected inflation read, which added to hopes that the US central bank will not hike interest rates today.  The Dow Jones closed up 145.79 points, or 0.4%, to end the session at 34,212.12. The S&P added 30.08 points or 0.7%, to settle at 4,369.01, while the Nasdaq Composite gained 111.40 points or 0.8%, to trade at 13,573.32.

 

Company News & Broker Comments:

Company News:

Safestore says their H1 pretax profit falls to £103.4m from £285.2m YoY.

 

 

Shell will increase their dividend by 15% starting in Q2 and will reduce capital spending as part of CEO Wael Sawan’s efforts to regain investor confidence.

 

 

Victrex says in H1 their group volumes fell 14% as they expect current headwinds to continue until at least the end of FY23 in September.

 

 

WH Smith announces the completion of bank refinancing with a new long-term £400m sustainability linked facility.

 

 

Broker Comments:

Jefferies Upgrades Aston Martin to Hold from Underperform (2 Buys / 5 Holds / 1 Sell)

 

UBS Upgrades Wizz Air to Buy from Neutral (9 Buys / 4 Holds / 1 Sell)

Reporting Today:

UK

 

Safestore Holdings

 

US

 

None

Reporting Tomorrow:

UK

 

Halma

 

JLEN Environmental Assets Group

 

Syncona

 

 

US

 

Adobe

 

 

In Focus Today:

UK Gross Domestic Product

 

UK Industrial Production

 

UK Manufacturing Production

 

EU Industrial Production s.a.

 

German 10-y Bond Auction

 

US Producer Price Index ex Food & Energy

 

Fed Interest Rate Decision

 

Fed's Monetary Policy Statement

 

FOMC Economic Projections

 

US Interest Rate Projections - 1st year

 

US Interest Rate Projections - 2nd year

 

US Interest Rate Projections - Current

 

US Interest Rate Projections - Longer

 

US FOMC Press Conference

 

Japanese Merchandise Trade Balance Total

 

 

Tomorrow'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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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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