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This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 6 July 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Pearson PLC 834.6 2.1%
Convatec Group PLC 205.2 1.1%
Tesco PLC 249.4 0.7%
B&M European Value Retail S.A. 545.8 0.5%
Bae Systems PLC 912.0 0.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Ocado Group PLC 575.2 -6.5%
Prudential PLC 1,065.5 -3.7%
Severn Trent PLC 2,466.0 -2.9%
M&G PLC 188.3 -2.7%
Anglo American PLC 2,269.0 -2.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,448 -1.0% 6.3%
DOW JONES INDUS. AVG 34,332 -0.3% 10.2%
DAX INDEX 15,922 -0.7% 28.5%
NIKKEI 225 33,339 -0.3% 26.2%
S&P/ASX 200 INDEX 7,253 -0.4% 9.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.31 2.18%
Brent Crude (ICE) USD/bbl. 76.14 -0.14%
Gold Spot USD/t oz. 1,923 -0.1%
Copper (Comex) USd/lb. 377 -0.8%
The UK 100 called to open -35 points at 7407.  

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -35 points at 7407.  The UK 100 looks set to open lower today, extending yesterday’s falls after the Federal Reserve minutes signalled further interest rate rises were on the way.  US markets closed lower with the Dow down 0.4%, while, the S&P and Nasdaq closed 0.2% lower. The downbeat mood spread to Asia where markets also eased. In China, the Shanghai Composite was down 0.7%, while the Hang Seng index in Hong Kong was down 3.0%. In Japan, the Nikkei 225 index in Tokyo was down 1.7%.

 

 

Company News & Broker Comments:

Company News:

ABRDN notes subdued outlook in 2023 re customer growth due to market conditions.

 

 

Currys reported a 38% fall in FY profit, hurt by weak performance of its Nordics business and said it would not pay a final dividend.

 

 

Jet2 posted higher annual profit, in line with forecasts and said they were confident for the current peak summer season ahead. They reported a pretax profit of £371m v £388.8m loss YoY and have declared a FY23 final dividend per share of 8p.

 

 

Just Group appoints EY partner Mark Godson as CFO, effective from Jan 1st 2024.

 

 

Man Groupare to buy Varagon Capital for $183m, funded from internal resources.

 

 

Broker Comments:

JP Morgan Upgrades Mondi to Overweight from Neutral (4 Buys / 4 Holds / 0 Sells)

 

 

JP Morgan Upgrades Smurfit Kappa to Overweight from Neutral (4 Buys / 2 Holds / 0 Sells)

 

 

RBC Upgrades Smiths to Sector Perform from Underperform (4 Buys / 3 Holds / 0 Sells)

Reporting Today:

UK

 

Currys plc

 

Jet2 plc

 

 

US

 

None

Reporting Tomorrow:

UK

 

None

 

 

US

 

None

 

 

 

In Focus Today:

Chinese Trade Balance

 

Chinese Imports

 

Chinese Exports

 

UK Gross Domestic Product

 

UK Industrial Production

 

UK Manufacturing Production

 

European Commission releases Economic Growth Forecasts

 

EU Industrial Production s.a.

 

ECB Monetary Policy Meeting Accounts

 

US Initial Jobless Claims

 

US Producer Price Index

 

US Monthly Budget Statement

 

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 6th July 2023:

 

Next

 

JD Sports Fashion

 

UK 250 companies going ex-dividend on 6th July 2023:

 

Murray International Trust

 

ICG Enterprise Trust

 

Big Yellow Group

 

Workspace Group

 

Paragon Banking Group

 

Safestore Holdings

 

Global Smaller Companies Trust

 

Primary Health Properties

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