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Morning Report - 12 April 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Antofagasta Plc 1559 5.3%
Rio Tinto Plc 5565 5.1%
Anglo American Plc 2698 3.7%
Frasers Group Plc 78525.0 3.1%
Glencore Plc 471 3.0%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Beazley Plc 592 -1.7%
British Land Co Plc 387.8 -1.3%
London Stock Exchange Plc 7918 -1.3%
GSK Plc 1503 -1.2%
Unite Group Plc 967.7 -1.1%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,785 0.5% 2.5%
DOW JONES INDUS. AVG 33,684 0.2% -3.0%
DAX INDEX 15,655 0.3% 10.8%
NIKKEI 225 28,082 0.5% 3.0%
S&P/ASX 200 INDEX 7,343 0.4% -3.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 81.60 +0.09%
Brent Crude (ICE) USD/bbl. 85.72 +0.13%
Gold Spot USD/t oz. 2,015 +0.61%
Copper (Comex) USd/lb. 401 -0.12%
The UK 100 called to open +1 point at 7783. 

1 Day; 2 Years

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Markets Overview:

The UK 100 called to open +1 point at 7783. UK 100 is called to open largely flat on Wednesday, ahead of the key US inflation print (CPI data 1:30pm) and minutes from the Federal Reserve’s March meeting. On Tuesday, Wall Street had a muted session with the Dow closing +0.3%, S&P flat and Nasdaq -0.4%. In Asia the Nikkei was up 0.6%, Shanghai up 0.2% and Hong Kong down 0.8%.

Company News & Broker Comments:

Company News:

Anglo American rough diamond sales value De Beers, cycle 3, $540m v $566m YoY. They note “encouraging” positive trends in demand for diamond jewellery as they cite China in positive trend re consumer demand in diamond jewellery.

 

De La Rue says their FY adjusted operating profit came in at mid0single digit percentage below market expectations as demand for banknotes are at the lowest level in over 20 years.

 

Hikma Pharmaceuticals names injectables business president Riad Mishlawi as CEO, who will start the role on 1st September.

 

Unite Group says 90% of rooms have been sold for the 2023/24 academic year, as reservations are significantly ahead of recent sales cycles. They are confident of delivering rental growth of 6-7% for 2023/24.

 

 

Broker Comments:

Jefferies Downgrades Enquest Energy to Hold from Buy (2 Buys / 2 Holds / 0 Sells)

 

Jefferies Downgrades Tullow Oil to Underperform from Hold (5 Buys / 3 Holds / 0 Sells)

Reporting Today:

UK

 

None

 

 

US

 

First Republic Bank

Reporting Thursday:

UK

 

Discoverie

 

Tesco

 

 

US

 

Delta Air Lines

 

 

In Focus Today:

US IMF Meeting

 

US Consumer Price Index ex Food & Energy

 

FOMC Minutes

 

US Monthly Budget Statement

Tomorrow's Ex-Dividends:

UK 100 companies going ex-dividend on 13th April 2023:

 

Persimmon

 

Lloyds Banking Group

 

Smurfit Kappa Group

 

Unite Group

 

UK 250 companies going ex-dividend on 13th April 2023:

 

 

TP ICAP Group

 

National Express Group

 

ITV

 

Harbour Energy

 

Grafton Group

 

Rotork

 

Just Group

 

Softcat

 

Balanced Commercial Property 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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