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Morning Report - 10 January 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Antofagasta PLC 1,726.5 4.3%
Flutter Entertainment PLC 12,465.0 3.9%
Scottish Mortgage Investment Trust PLC 751.6 3.8%
Entain PLC 1,466.5 3.6%
International Consolidated Airlines Group S.A. 145.5 3.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Fresnillo PLC 931.8 -3.4%
Airtel Africa PLC 114.5 -3.2%
Beazley PLC 667.0 -2.8%
Bae Systems PLC 835.2 -2.6%
Frasers Group PLC 739.0 -2.5%
Major World Indices Price % Chg 1 YEAR
FTSE 100 INDEX 7,725 0.3% 3.8%
DOW JONES INDUS. AVG 33,518 -0.3% -7.1%
DAX INDEX 14,793 1.3% -6.2%
NIKKEI 225 26,176 0.8% -8.1%
S&P/ASX 200 INDEX 7,131 -0.3% -4.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 74.27 -0.48%
Brent Crude (ICE) USD/bbl. 79.25 -0.50%
Gold Spot USD/t oz. 1,873 0.0%
Copper (Comex) USd/lb. 400 -0.7%
The UK 100 called to open -40 points at 7684. 

1 Day; 3 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open -40 points at 7684.  The UK 100 looks set to open lower this morning, following a mixed showing in the US yesterday, and ahead of a speech by Federal Reserve chairman, Jerome Powell, at a banking conference in Stockholm.  At the close on Monday in the US, the Dow Jones was down 113 points, or 0.33%, to 33,518, the S&P fell 3 points, or 0.08%, to 3,892 but the Nasdaq jumped 66 points, or 0.63%, to 10,636.

 

Company News & Broker Comments:

Company News:

AO World increases their profit guidance for FY23 in unscheduled trading update. They now expect adjusted EBITDA of £30-40m, versus £20-30m previous guidance.

 

 

Card Factory says trading is ahead of expectations as their 11 month sales came in at £432.6m, up from £337.3m YoY.

 

 

Games Workshop Group reports a HY pretax profit of £83.6m (down from £88.2m YoY) as they declare a dividend of £1.30 per share. They are continuing to work focus on making the “best miniatures in the world”.

 

 

Plus500 posts a 17% rise in FY 2022 EBITDA.

 

 

Unite Group reiterates guidance for an adjusted EPS at the top end of 40-41p range for 2022. They hail strong start to 2023/24 sales with 70% of beds sold

 

 

Broker Comments:

 

Barclays Downgrades Ashmore Group to Equal Weight from Overweight (2 Buys / 2 Holds / 2 Sells)

 

 

Deutsche Bank Downgrades Legal & General to Hold from Buy (6 Buys / 5 Holds / 0 Sells)

 

 

Deutsche Bank Downgrades St James’s Place to Hold from Buy (8 Buys / 6 Holds / 0 Sells)

 

 

Deutsche Bank Upgrades Admiral Group to Buy from Hold (3 Buys / 4 Holds / 2 Sells)

 

 

HSBC Downgrades Clarkson to Hold from Buy (3 Buys / 1 Hold / 0 Sells)

 

 

RBC Downgrades Superdry to Sector Perform from Outperform (3 Buys / 1 Hold / 1 Sell)

 

 

UBS Downgrades Softcat to Sell from Neutral (5 Buys / 5 Holds / 0 Sells)

Reporting Today:

Games Workshop Group

Reporting Wednesday:

Barratt Developments

 

Vistry Group

 

In Focus Today:

UK BRC Like-For-Like Retail Sales

 

Chinese FDI - Foreign Direct Investment

 

This Week's Ex-Dividends:

UK 100 companies going  ex-dividend on 12th January 2023:

 

SSE

 

Sage Group

 

Ashtead Group

 

B&M European Value Retail S.A.

UK 250 companies going  ex-dividend on 12th January 2023:

 

 

Primary Health Properties

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