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Morning Report - 3 October 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Intercontinental Hotels Group PLC 6,156.0 1.4%
Bae Systems PLC 1,007.0 0.9%
Entain PLC 939.8 0.8%
United Utilities Group PLC 952.8 0.5%
International Consolidated Airlines Group S.A. 148.2 0.1%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Beazley PLC 530.5 -4.2%
Prudential PLC 859.6 -3.3%
SSE PLC 1,557.5 -3.3%
Fresnillo PLC 533.7 -3.2%
Centrica PLC 149.6 -3.1%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,513 -1.3% 9.8%
DOW JONES INDUS. AVG 33,490 -0.1% 16.6%
DAX INDEX 15,230 -1.0% 26.7%
NIKKEI 225 31,760 -0.3% 21.2%
S&P/ASX 200 INDEX 7,033 -0.2% 8.9%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 89.04 -1.93%
Brent Crude (ICE) USD/bbl. 90.96 -1.34%
Gold Spot USD/t oz. 1,833 -0.8%
Copper (Comex) USd/lb. 364 -2.5%
The UK 100 called to open -11 points at 7,499.

4 hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -11 points at 7,499.    The UK 100 looks set to open lower after a mixed showing in the US following hawkish comments from two leading Fed officials.  The US Federal Reserve will likely need to keep interest rates higher for longer in order to firmly bring down inflation, a senior Fed official said.  The comments kept the Dow Jones Industrial Average in the red down 0.2% although the Nasdaq Composite rose 0.7%.  In Asia, Evergrande shares surged as much as 42% on Tuesday after resuming trading in Hong Kong after a suspension.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca has entered into settlement agreements in the product liability litigations related to Nexium and Prilosec. The agreements effectively resolve the product liability claims that are currently pending in the Multidistrict Litigation in the US District Court for the District of New Jersey, as well as in the Delaware Superior Court and the New Jersey Superior Court. The specific terms of the agreements are confidential.

 

 

Boohoo Group PLC slipped into the red in the first half as revenue fell sharply, and warned of further falls in sales ahead.  The online retailer said revenue in the six months ended 31 August 2023 fell 17% to £729.1 million from £882.4 million the year before, resulting in an adjusted pre-tax loss of £9.1 million compared to a pre-tax profit of £6.2 million.

 

 

Diageo announced yesterday, it was launching and pricing a $1.7 billion SEC-registered bond offering, consisting of $800 million 5.375% fixed rate notes due 2026 and $900 million 5.625% fixed rate notes due 2033.

 

 

Greggs PLC reported continued strong growth in sales in the third quarter supported by a rise in evening trade and use of its app.  The retailer, famous for its value sausage rolls, said sales rose 20.8% in the 13 weeks to September 30 with company-managed shop like-for-like sales up 14.2%.

 

Broker Comments:

 No New broker comments

Reporting Today:

UK

 

Greggs

 

 

 

US

 

None

Reporting Tomorrow:

UK

 

Tesco

 

 

US

 

None

 

 

In Focus Today:

US JOLTS Job Openings

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 5th October 2023:

 

Smith & Nephew

Weir Group

Centrica

F&C Investment Trust

 

 

UK 250 companies going ex-dividend on 5th October 2023:

 

Hays

Bank of Georgia Group

Morgan Sindall Group

Travis Perkins

Merchants Trust

Hunting

Finsbury Growth & Income Trust

Bodycote

JPMorgan Emerging Markets Invest Trust

Murray International Trust

RIT Capital Partners

Spectris

Barr (A.G.)

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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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