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Morning Report - 29 August 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Tesco PLC 260.1 1.9%
Smurfit Kappa Group PLC 3,148.0 1.8%
Melrose Industries PLC 508.8 1.4%
Intertek Group PLC 4,133.0 1.4%
CRH PLC 4,508.0 1.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
Endeavour Mining PLC 1,625.0 -2.8%
Fresnillo PLC 549.4 -2.1%
International Consolidated Airlines Group S.A. 157.9 -1.6%
Prudential PLC 946.8 -1.4%
Johnson Matthey PLC 1,543.0 -1.3%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,339 0.1% -1.2%
DOW JONES INDUS. AVG 34,560 0.6% 7.7%
DAX INDEX 15,793 1.0% 22.5%
NIKKEI 225 32,227 0.2% 15.6%
S&P/ASX 200 INDEX 7,211 0.7% 3.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 79.84 -0.32%
Brent Crude (ICE) USD/bbl. 84.23 -0.23%
Gold Spot USD/t oz. 1,923 0.2%
Copper (Comex) USd/lb. 382 0.6%
The UK 100 called to open +82 points at 7,419

4 hours; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +82 points at 7,419. The UK 100 looks set to edge higher after the extended weekend following gains in the US and news that UK shop price inflation decelerated further in August.  Chinese stocks extended Monday’s gains after China’s regulators decided to slash the tax paid on stock trades for the first time since 2008, while in the US, stocks ended higher, with the Dow and the S&P 500 both up 0.6%, and the Nasdaq Composite up 0.8%.

 

 

Company News & Broker Comments:

Company News:

Bunzl has hiked their annual adjusted operating profit forecast buoyed by easing operating costs and as acquisitions pay off. They now expect their 2023 adjusted operating profit to be moderately higher than

last year at constant exchange rates, with operating margin remaining strong and moderately higher than the prior year.

 

 

Hochschild says Eduardo Landin is to succeed Bustamante as CEO.

 

 

IG Group says their CEO June Felix is to step down due to ill health.

 

 

PureTech Health report a H1 2023 pretax loss of $13.7m, which has narrowed from $56m YoY.

 

 

Rio Tinto and First Quantum Minerals are to complete a joint venture deal for La Granja project in Peru.

 

Broker Comments:

Barclays Upgrades Britvic to Overweight from Equal Weight (6 Buys / 6 Holds / 0 Sells)

 

UBS Downgrades HSBC to Neutral from Buy (10 Buys / 7 Holds / 0 Sells)

Reporting Today:

UK

 

Bunzl

Puretech Health

 

 

 

US

 

NIO

Hewlett Packard Enterprise

HP

Reporting Monday:

UK

 

Prudential

 

 

US

 

CrowdStrike Holdings

Salesforce

 

 

In Focus Today:

German Gfk Consumer Confidence Survey

US Housing Price Index

US Consumer Confidence

US JOLTS Job Openings

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 31st August 2023:

 

Glencore

Endeavour Mining

Glencore

Croda International

Antofagasta

InterContinental Hotels Group

 

 

UK 250 companies going ex-dividend on 31st August 2023:

 

Ithaca Energy

Redde Northgate

PageGroup

Diversified Energy Company

JLEN Environmental Assets Group

Quilter

Centamin

LondonMetric Property

Genuit Group

Clarkson

JPMorgan Global Growth & Income

Savills

Alliance Trust

JPMorgan American Investment Trust

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