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Morning Report - 21 April 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Segro PLC 401.7 3.4%
Haleon PLC 798.0 2.7%
Beazley PLC 353.0 2.5%
Smith & Nephew PLC 593.0 1.8%
Rentokil Initial PLC 1,245.5 1.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Antofagasta PLC 1,568.5 -2.9%
Smith (Ds) PLC 317.7 -2.6%
Smurfit Kappa Group PLC 2,972.0 -2.3%
Persimmon PLC 1,244.0 -2.3%
Mondi PLC 1,282.0 -2.1%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,901 0.0% 3.3%
DOW JONES INDUS. AVG 33,803 -0.3% -3.9%
DAX INDEX 15,802 -0.6% 9.9%
NIKKEI 225 28,658 0.2% 4.0%
S&P/ASX 200 INDEX 7,362 -0.1% -2.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 77.37 -2.26%
Brent Crude (ICE) USD/bbl. 81.18 -2.33%
Gold Spot USD/t oz. 2,001 0.3%
Copper (Comex) USd/lb. 404 -1.1%
The UK 100 called to open +3 points at 7905. 

4 hours; 12 s

Click graph to enlarge

Markets Overview:

The UK 100 called to open +3 points at 7905. The UK 100 is expected to open marginally higher this morning, this follows a tough session on Wall Street, which saw stocks end lower after disappointing earnings from AT&T and heavy falls in Tesla weighed on equities.  The Dow Jones closed down 110.46 points, or 0.3%, to trade at 33,786.55. The S&P fell 24.71 points, or 0.6% settling at 4,129.81, while the Nasdaq slipped 97.67 points, or 0.8%, to end the day at 12,059.56.  In Asia this morning, markets dipped. The Nikkei 225 index was down 0.3%. the Shanghai Composite was down 1.4%, while the Hang Seng index in Hong Kong was down 1.2%.

Company News & Broker Comments:

Company News:

BHP Group says Olympic Dam and Pampa Norte output are to be at upper end of guidance. They keep production guidance unchanged for copper and iron ore.

 

 

Glencore says their FY production guidance is unchanged from December. Their EBIT keeps them on track to exceed top end of LT target. Q1 output YoY copper -8%, zinc -15%, lead -16%, nickel -32%, gold -1%, silver -31%, coal -6% and ferrochrome +3%.

 

 

Network International confirms media reports of preliminary proposal from Brookfield. They state that the Brookfield proposal if for potential cash offer of 400p.

 

 

Petrofac agrees a 12-month extension to their revolving credit facility.

 

 

Broker Comments:

 

JP Morgan places Direct Line Insurance Group into Q1 2023 on “Negative Catalyst watch” (5 Buys / 8 Holds / 0 Sells)

Reporting Today:

UK

 

None

 

 

US

 

Procter & Gamble

 

SLB

Reporting Monday:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

UK Retail Sales

 

German S&P Global/BME Composite PMI

 

German S&P Global/BME Manufacturing PMI

 

German S&P Global/BME Services PMI

 

EU S&P Global Composite PMI

 

EU S&P Global Manufacturing PMI

 

EU S&P Global Services PMI

 

UK S&P Global/CIPS Composite PMI

 

UK S&P Global/CIPS Manufacturing PMI

 

UK S&P Global/CIPS Services PMI

 

US S&P Global Composite PMI

 

US S&P Global Manufacturing PMI

 

US S&P Global Services PMI

 

Next Week's Ex-Dividends:

UK 100 companies going ex-dividend on 27th April 2023:

 

Legal & General Group

 

RELX

 

Fresnillo

 

Rightmove

 

Croda International

 

UK 250 companies going ex-dividend on 27th April 2023:

 

 

Bakkavor Group

 

Morgan Sindall Group

 

Derwent London

 

Sequoia Economic Infrastructure Inc Fnd

 

Coats Group

 

Bridgepoint Group

 

Greggs

 

City of London Investment Trust

 

Senior

 

Bankers Investment Trust

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