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Morning Report - 15 June 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Smith & Nephew PLC 1,247.0 4.9%
Antofagasta PLC 1,575.0 4.5%
Anglo American PLC 2,590.5 4.3%
CRH PLC 4,039.0 3.0%
Glencore PLC 473.2 2.9%
Yesterday’s UK 100 Laggards Price (p) % Chg
Entain PLC 1,209.5 -8.5%
Hargreaves Lansdown PLC 843.8 -2.3%
Bt Group PLC 137.8 -2.1%
Astrazeneca PLC 11,512.0 -1.9%
Rs Group PLC 793.2 -1.8%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,606 0.2% 6.1%
DOW JONES INDUS. AVG 34,103 -0.3% 12.2%
DAX INDEX 16,311 0.5% 22.6%
NIKKEI 225 33,502 1.5% 27.3%
S&P/ASX 200 INDEX 7,162 0.3% 7.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 69.60 0.26%
Brent Crude (ICE) USD/bbl. 74.51 0.30%
Gold Spot USD/t oz. 1,958 0.7%
Copper (Comex) USd/lb. 386 0.8%
The UK 100 called to open -17 points at 7587. 

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -17 points at 7587.   The UK 100 is expected to open lower after the US Federal Reserve left interest rates unchanged but signalled further hikes were on the way.  US markets ended mixed on the news. The Dow Jones closed down 232.79 points or 0.7%, at 33,979.33. The S&P rose 3.58 points or 0.1% to end at 4,372.59, while the Nasdaq gained 53.16 points or 0.4%, at 13,626.48.

 

Company News & Broker Comments:

Company News:

ASOS reported a 14% drop in revenue in its latest quarter, reflecting both its new focus on profitable sales rather than top-line growth and a tough trading backdrop. They said they have returned to profitability with core earnings (adjusted EBIT) up more than £20m YoY.

 

 

Bunzl has forecast for its HY revenue to climb, supported by recent acquisitions and higher demand and prices of products it sells to the retail, food service and grocery sectors. Revenue for the six months through June 30th is expected to increase by 4-5% at actual exchange rates.

 

 

Halma reports a FY23 adjusted pretax profit of £361.3m, up from £316.2m in FY22 as their total dividend was increased by 7% to 20.20p. They expect “good organic” revenue growth in FY24 based on current market conditions.

 

 

Legal & General appoints Antonio Simoes as Chief Executive.

 

 

Melrose Industries CEO Simon Peckham buys £10.5m in shares.

 

 

Broker Comments:

 Goldman Sachs Downgrades Diageo to Neutral from Buy (8 Buys / 2 Holds / 1 Sell)

Reporting Today:

UK

 

Halma

 

JLEN Environmental Assets Group

 

Syncona

 

 

US

 

Adobe

Reporting Tomorrow:

UK

 

Tesco

 

 

US

 

None

 

 

In Focus Today:

Chinese Industrial Production

 

Chinese Retail Sales

 

EU Eurogroup Meeting

 

ECB Monetary Policy Decision Statement

 

ECB Rate On Deposit Facility

 

ECB Rate On Main Refinancing Operations

 

US Initial Jobless Claims

 

Philadelphia Fed Manufacturing Survey

 

US Retail Sales

 

US Retail Sales Control Group

 

ECB Press Conference

 

 

Today'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

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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