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Morning Report - 9 May 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Antofagasta PLC 1,469.5 3.5%
Barclays PLC 153.2 3.4%
BP PLC 492.3 3.3%
Anglo American PLC 2,447.0 2.9%
Wpp PLC 889.0 2.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Intercontinental Hotels Group PLC 5,412.0 -1.9%
Endeavour Mining PLC 2,068.0 -1.7%
Compass Group PLC 2,069.0 -1.5%
Hargreaves Lansdown PLC 792.4 -1.0%
Reckitt Benckiser Group PLC 6,434.0 -0.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,778 1.0% 5.3%
DOW JONES INDUS. AVG 33,619 -0.2% 4.3%
DAX INDEX 15,953 -0.1% 19.2%
NIKKEI 225 29,243 1.0% 11.1%
S&P/ASX 200 INDEX 7,264 -0.2% 2.0%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 72.60 -0.77%
Brent Crude (ICE) USD/bbl. 76.42 -0.77%
Gold Spot USD/t oz. 2,027 0.3%
Copper (Comex) USd/lb. 389 -1.1%
The UK 100 called to open +11 points at 7788. 

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +11 points at 7788.   The UK 100 is expected to open higher after the long weekend.  In the US on Monday markets were mixed. The Dow Jones closed down 0.2%, the S&P closed flat, and the Nasdaq Composite up 0.2%.  In Tokyo on this morning, the Nikkei 225 index was 1.1% higher. In China, the Shanghai Composite rose 0.2%, while the Hang Seng index in Hong Kong slipped 0.6%.

Company News & Broker Comments:

Company News:

DCC says their CEO Donal Murphy is to step back from day-to-day activities amid medical condition.

 

 

Direct Line Insurance Group sees their Q1 gross written premiums increase 9.7% YoY to £805.7m. They have suffered more adverse claims in late 2022-early 2023 elevating claims in motor insurance, particularly down to vehicle damage. They state that this will put pressure on their 2023 earnings.

 

 

Ferrexpo believes that the new Mexican mining law will have no material impact on their operations.

 

 

JD Sports proposes to buy Courir in France for 520m euros.

 

 

Marshalls report that their trading performance in YTD has been weaker than originally expected.

 

 

Purplebricks says they largely expect their FY outcome to be in line with management expectations. They state that Q4 instructions did not pick up as expected and that this will largely hurt revenue and EBITDA in their new financial year.

 

 

Broker Comments:

Peel Hunt Upgrades IAG to Buy (9 Buys / 3 Holds / 0 Sells)

 

 

RBC Upgrades Intertek to Sector Perform from Underperform (6 Buys / 7 Holds / 2 Sells)

 

Reporting Today:

UK

 

Diversified Energy Company

 

 

US

 

Airbnb

 

Jackson Financial

 

Occidental Petroleum

 

Rivian Automotive

 

Twilio

 

Upstart Holdings

 

Virgin Galactic

Reporting Wednesday:

UK

 

ASOS

 

Compass Group

 

Spirax-Sarco Engineering

 

Tui

 

 

US

 

The Trade Desk

 

Unity Software

 

The Walt Disney Co

 

 

 

In Focus Today:

 

Chinese Exports

 

Chinese Imports

 

Chinese Trade Balance

 

This Week's Ex-Dividends:

UK 100 companies going ex-dividend on 11th May 2023:

 

Tesco

 

HSBC Holdings

 

BP

 

UK 250 companies going ex-dividend on 11th May 2023:

 

SThree

 

Serco Group

 

Clarkson

 

Inchcape

 

Barr (A.G.)

 

Petershill Partners

 

TBC Bank Group

 

GCP Infrastructure Investments

 

Fidelity Special Values

 

Greencoat UK Wind

 

Target Healthcare REIT

 

Balanced Commercial Property Trust

 

Renewables Infrastructure Group

 

Tritax Big Box REIT

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