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Morning Report - 22 June 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
CRH PLC 4,212.0 2.5%
BP PLC 463.9 2.2%
Shell PLC 2,361.5 1.7%
Convatec Group PLC 208.6 1.4%
Ocado Group PLC 428.5 1.1%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Smurfit Kappa Group PLC 2,666.0 -5.4%
Smith (Ds) PLC 292.8 -5.1%
Burberry Group PLC 2,136.0 -4.5%
Natwest Group PLC 236.4 -3.6%
Persimmon PLC 1,140.3 -3.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,565 -0.1% 5.4%
DOW JONES INDUS. AVG 34,011 -0.1% 11.3%
DAX INDEX 16,045 -0.4% 20.9%
NIKKEI 225 33,575 0.6% 28.4%
S&P/ASX 200 INDEX 7,315 -0.6% 12.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 72.11 1.29%
Brent Crude (ICE) USD/bbl. 76.65 0.99%
Gold Spot USD/t oz. 1,931 -0.3%
Copper (Comex) USd/lb. 392 0.6%
The UK 100 called to open -70 points at 7490. 

4 hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -70 points at 7490.  The UK 100 looks set to fall sharply this morning ahead of todays BoE interest rate meeting, where another rate hike is expected.  Overnight, Wall Street's main stock indices all finished in the red after Federal Reserve chief Jerome Powell suggested he was not done hiking rates.   The falls were led by tech stocks, with the Nasdaq falling 1.2% to 13,502, while the S&P 500 slipped 0.5% to 4,366 and the Dow Jones closed down 0.3% at 33,951.

 

 

Company News & Broker Comments:

Company News:

DS Smith reported that their box volumes remained lower than normal while trading was in line with expectations so far this year. Their profit before tax rose 75% to £661m for the year ended April 30th on a reported basis.

 

 

GlaxoSmithKline says their drug Arexy has been backed by US CDC immunisation advisory committee in adults aged 60+.

 

 

Speedy Hire appoints Paul Rayner as CFO from July 1st.

 

 

Whitbread reported that their Q1 sales came in ahead of last year’s figures, supported by strong demand for travel and leisure with a robust performance from its UK hotels. L-f-L sales growth in the UK was up 14% YoY, with total L-f-L sales growth 15% above year-ago levels.

 

 

Broker Comments:

 

Morgan Stanley Upgrades Shell to Equal-weight from Underweight (10 Buys / 3 Holds / 2 Sells)

Reporting Today:

UK

 

DS Smith

 

Serco Group

 

Urban Logistics REIT

 

 

US

 

Accenture

Reporting Tomorrow:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

Bank of England Minutes

 

BoE Asset Purchase Facility

 

BoE Interest Rate Decision

 

UK Monetary Policy Summary

 

US Chicago Fed National Activity Index

 

US Initial Jobless Claims

 

EU Consumer Confidence

 

US Bank Stress Test Info

 

UK GfK Consumer Confidence

 

Japanese National Consumer Price Index

 

 

Today's Ex-Dividends:

UK 100 companies going ex-dividend on 22nd June 2023:

 

3i Group

 

Airtel Africa

 

British Land Company

 

Experian

 

United Utilities Group

 

UK 250 companies going ex-dividend on 22nd June 2023:

 

Mercantile Investment Trust

 

Tate & Lyle

 

discoverIE Group

 

MITIE Group

 

Templeton Emerging Markets IT

 

Personal Assets Trust

 

abrdn Private Equity Opportunities Trust

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