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Morning Report - 15 May 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Airtel Africa PLC 115.1 3%
Beazley PLC 604 2.9%
JD Sports Fashion PLC 173.2 2.7%
Persimmon PLC 1337.5 2.5%
Compass Group PLC 2157 2%
Yesterday’s UK 100 Laggards Price (p) % Chg
British Land PLC 371.1 -2.8%
Ocado Group PLC 441.4 -2.5%
Diageo PLC 3534.5 -2.3%
Prudential PLC 1156 -2.1%
Land Securities Group PLC 614.4 -1.8%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,754 0.3% 7.2%
DOW JONES INDUS. AVG 33,300 0% 4.4%
DAX INDEX 15,913 0.5% 17.9%
NIKKEI 225 29,604 0.7% 11.3%
S&P/ASX 200 INDEX 7,263 0.1% 2.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 69.9 -0.1%
Brent Crude (ICE) USD/bbl. 74.03 -0.2%
Gold Spot USD/t oz. 2,020 0.1%
Copper (Comex) USd/lb. 373.6 0.2%
The UK 100 called to open +32 points at 7784.

4 hours; 5 Months

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Markets Overview:

The UK 100 called to open +32 points at 7784. UK 100 is set to edge into the green at Monday’s open, as caution prevails amidst unease about debt ceiling discussions in the US. On Friday Wall Street ended mostly lower with the Dow flat, S&P -0.2% and Nasdaq -0.4%. In Asia on Monday equities were trading in the green as Nikkei +0.7%, Shanghai marginally higher and Hong Kong +1.2%.

 

Company News & Broker Comments:

Company News:

British American Tobacco appoints finance director Tadeu Marroco as CEO effective today.

 

Currys guides FY adjusted pretax profit of £110-120m, up from £104m previously.

 

Diploma sees FY organic revenue growth of about 7% for FY and they expect their FY operating margin to be at the top end of their previously guided range of around 19%.

 

Fresnillo says Herruda operations “temporarily suspended” due to “illegal” work stoppage. Their 2023 guidance is unchanged, as the stoppage ended with no material impact expected.

 

HSBC aims for high single-digit percentage revenue growth in Asia Wealth in medium-term.

 

 

Broker Comments:

JP Morgan places JD Sports Fashion on “positive catalyst watch” (7 Buys / 1 Hold / 0 Sells)

 

Reporting Today:

UK

 

Diploma

 

 

US

 

None

Reporting Tomorrow:

UK

 

Britvic

 

DCC

 

Imperial Brands

 

Land Securities Group

 

Vodafone Group

 

 

US

 

The Home Depot

 

 

In Focus Today:

Eurogroup Meeting

 

BoE Monetary Policy Report Hearings

 

European Commission releases Economic Growth Forecasts

 

EU Industrial Production s.a.

 

This Week's Ex-Dividends:

UK 100 companies going ex-dividend on 18th May 2023:

 

Bunzl

 

GSK

 

Shell

 

Unilever

 

Pershing Square Holdings

 

UK 250 companies going ex-dividend on 18th May 2023:

 

PageGroup

 

Virgin Money UK

 

BlackRock Smaller Companies Trust

 

Balfour Beatty

 

UK Commercial Property REIT

 

Octopus Renewables Infrastructure Trust

 

Spectris

 

Murray Income Trust

 

Witan Investment Trust

 

Essentra

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