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Morning Report - 20 September 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Hargreaves Lansdown PLC 811.4 6.1%
Marks And Spencer Group PLC 228.2 2.6%
Ocado Group PLC 802.0 1.9%
Centrica PLC 173.1 1.8%
Land Securities Group PLC 584.2 1.7%
Yesterday’s UK 100 Laggards Price (p) % Chg
Kingfisher PLC 207.8 -11.8%
Burberry Group PLC 2,054.0 -4.6%
Convatec Group PLC 215.6 -2.4%
Jd Sports Fashion PLC 132.8 -2.4%
Halma PLC 2,064.0 -2.2%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,655 0.0% 5.8%
DOW JONES INDUS. AVG 34,390 -0.7% 11.4%
DAX INDEX 15,656 -0.5% 22.4%
NIKKEI 225 33,243 -0.9% 20.1%
S&P/ASX 200 INDEX 7,197 -0.5% 5.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 92.79 1.43%
Brent Crude (ICE) USD/bbl. 95.41 1.04%
Gold Spot USD/t oz. 1,935 0.1%
Copper (Comex) USd/lb. 375 -0.9%
The UK 100 called to open +30 points at 7,691.

4 hours; 11 Months

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Markets Overview:

The UK 100 called to open +30 points at 7,691.  The UK 100 is called to open higher this morning after figures from the Office for National Statistics show the consumer price index rose by 6.7% in August, down from 6.8% in July, and well below City expectations for a rise to 7.1%.  On a monthly basis, CPI rose by 0.3% in August, compared with a rise of 0.5% in August 2022.  Core CPI (excluding energy, food, alcohol and tobacco) rose by 6.2% in the 12 months to August, down from 6.9% in July, again well below City expectations.  The fall may put pressure on the Bank of England to stop raising interest rates and keep them at 5.25 per cent on Thursday.  On Wall Street The Dow Jones lost 106.57 points, or 0.31%, to end at 34,517.73. The S&P slid 0.22% to 4,443.95. The Nasdaq slid 0.23% to 13,678.19.

 

Company News & Broker Comments:

Company News:

AstraZeneca says Alexion has completed the purchase and license for Pfizer portfolio.

 

 

Dunelm expects higher sales volumes to drive profits in 2024, after their annual profit beat analysts’ expectations. They posted a £192.7m profit before tax for the year ended July 1st, while analysts on average expected it to be about £188m.

 

 

M&G swings to a £128m H1 pretax profit from a £1.77bn loss YoY.

 

 

Pearson names Omar Abbosh as their new CEO from early 2024, replacing retiring Andy Bird.

 

Broker Comments:

Exane BNP Downgrades WPP to Neutral (7 Buys / 3 Holds / 0 Sells)

 

 

RPT / Société Générale Downgrades BAE Systems to Hold from Buy (11 Buys / 4 Holds / 0 Sells)

Reporting Today:

UK

 

Dunelm Group

M&G

Supermarket Income REIT

 

 

 

US

 

FedEx

Reporting Tomorrow:

UK

 

Halma

Investec

JD Sports Fashion

Next

Octopus Renewables Infastructre Trust

SSP Group

 

 

US

 

None

 

 

In Focus Today:

PBoC Interest Rate Decision

UK Consumer Price Index

UK Producer Price Index – Output

UK Retail Price Index

German Producer Price Index

Fed Interest Rate Decision

Fed’s Monetary Policy Statement

FOMC Economic Projections

US Interest Rate Projections – 1st year

US Interest Rate Projections – 2nd year

US Interest Rate Projections – 3rd year

US Interest Rate Projections – Current

US Interest Rate Projections – Longer

FOMC Press Conference

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 21st September 2023:

 

None

 

 

UK 250 companies going ex-dividend on 19th September 2023:

 

Rathbones Group

 

UK 250 companies going ex-dividend on 21st September 2023:

 

Crest Nicholson Holdings

IG Group Holdings

FDM Group (Holdings)

Fidelity European Trust

Essentra

Grafton Group

JTC

Dowlais Group

Redrow

abrdn Private Equity Opportunities Trust

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.


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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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