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Morning Report - 29 June 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Sage Group PLC 918.0 5.1%
Scottish Mortgage Investment Trust PLC 663.6 3.9%
Pershing Square Holdings LTD 2,802.0 2.9%
Ashtead Group PLC 5,484.0 2.7%
CRH PLC 4,315.0 2.7%
Yesterday’s UK 100 Laggards Price (p) % Chg
Ocado Group PLC 529.8 -5.0%
Admiral Group PLC 2,067.0 -3.3%
Anglo American PLC 2,237.5 -1.9%
Reckitt Benckiser Group PLC 5,920.0 -1.6%
Antofagasta PLC 1,459.9 -1.6%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,500 0.5% 2.6%
DOW JONES INDUS. AVG 33,853 -0.2% 9.1%
DAX INDEX 15,949 0.6% 22.7%
NIKKEI 225 33,234 0.1% 24.0%
S&P/ASX 200 INDEX 7,195 0.0% 7.4%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 69.25 -0.45%
Brent Crude (ICE) USD/bbl. 73.69 -0.46%
Gold Spot USD/t oz. 1,905 -0.1%
Copper (Comex) USd/lb. 372 -0.6%
The UK 100 called to open flat at 7,488

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open flat at 7,488.  The UK 100 looks set to open flat today, following yesterday’s hawkish comments from a number of leading central bankers at a conference in Portugal.  The Dow fell 74.08 points, or 0.2%, to trade at 33,852.66. The S&P gave up just 1.55 points to end at 4,377.86, the Nasdaq however rose 36.08 points, or 0.3%, at 13,591.75.   Asian markets were also mixed. In Tokyo, the Nikkei 225 index was up 0.1%. In China, the Shanghai Composite was flat, while the Hang Seng index in Hong Kong fell 1.3%.

 

 

Company News & Broker Comments:

Company News:

Baltic Classifieds report a FY23 pretax profit of 26.4m euros up from 2.4m euros YoY.

 

 

B&M European Value Retail reports “strong profitable” momentum across all divisions in Q1 FY24.

 

 

Direct Line Insurance Group says review of past motor loss claims won’t impact their 2023 results as they note provision for potential payments due to review made in 2022 results. The review covers claims settled between Sept 17 and Aug 22.

 

 

Serco upgrades their FY underlying trading profit guidance to £245m, up 3% YoY.

 

 

Broker Comments:

Exane BNP Downgrades Ashtead Group to Neutral from Outperform (9 Buys / 3 Holds / 0 Sells)

Reporting Today:

UK

 

B&M European Value Retail

 

Baltic Classifieds Group

 

 

US

 

Nike Inc

Reporting Tomorrow:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

EU leaders summit

 

EU Economic Bulletin

 

EU Business Climate

 

EU Consumer Confidence

 

German Harmonized Index of Consumer Prices

 

US Gross Domestic Product Annualized

 

US Initial Jobless Claims

 

US Personal Consumption Expenditures Prices

 

US Pending Home Sales

 

BoE’s Tenreyro speech

 

Tokyo Consumer Price Index

 

Japanese Unemployment Rate

 

Japanese Industrial Production

 

 

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 29th June 2023:

 

Burberry Group

 

B&M European Value Retail S.A.

 

F&C Investment Trust

 

UK 250 companies going ex-dividend on 29th June 2023:

 

Liontrust Asset Management

 

Bank of Georgia Group

 

Urban Logistics REIT

 

TR Property Investment Trust

 

JPMorgan European Discovery Trust

 

Caledonia Investments

 

Premier Foods

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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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