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Morning Report - 30 November 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Fresnillo PLC 592.2 5.9%
JD Sports Fashion PLC 156.6 5.2%
Ocado Group PLC 595.8 5.1%
Rightmove PLC 542.6 2.8%
Rolls-Royce Holdings PLC 264.8 2.5%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Entain PLC 804.7 -3.6%
Prudential PLC 859.0 -3.0%
Standard Chartered PLC 644.8 -2.6%
Anglo American PLC 2,147.5 -2.6%
Compass Group PLC 2,021.0 -2.4%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,425 -0.4% -0.8%
DOW JONES INDUS. AVG 35,485 0.2% 4.8%
DAX INDEX 16,183 1.2% 12.6%
NIKKEI 225 33,321 -0.3% 19.1%
S&P/ASX 200 INDEX 7,035 0.3% -3.4%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 76.65 0.31%
Brent Crude (ICE) USD/bbl. 81.86 0.22%
Gold Spot USD/t oz. 2,043 0.1%
Copper (Comex) USd/lb. 384 0.0%
The UK 100 called to open +11 points at 7,434.

4 hours; 2 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +11 points at 7,434.  The UK 100 looks set to open 100 on Thursday ahead of inflation data in Europe and the US.  This comes after a mixed session on Wall Street yesterday that saw the Dow Jones up 13.44 points, or 0.04%, to close at 35,430.42. The S&P ticked down by 0.09% to end at 4,550.58, and the Nasdaq slipped by 0.16% to 14,258.49.  All three major averages remain on track for their biggest monthly gain in 2023.

 

Company News & Broker Comments:

Company News:

Dr Martens have forecast for their annual revenue to decline by a high single-digit percentage, after a slow start to the autumn-winter season impacted by warm weather across its three key regions and weaker traffic overall.

 

 

Mitchells & Butlers posted an 8% fall in its annual profit, pulled down by higher input costs, although they have forecast for cost pressures to seriously abate in the 2024 fiscal year. Their adjusted operating profit for the year ended 30th September came in at £221m, compared with £240m a year earlier.

 

 

Mulberry Group sees their usual H2 weighting to trading as they report a H1 pretax loss of £12.8m, widening from £3.8m YoY. They state that there is “no doubt macro-economic environment has deteriorated” hurting customers.

 

Broker Comments:

CitiGroup Upgrades B&M European Value Retail SA to Buy from Neutral (8 Buys / 4 Holds / 1 Sell)

 

JP Morgan Downgrades 888 Holdings to Neutral from Overweight (5 Buys / 2 Holds / 0 Sells)

 

JP Morgan Upgrades NatWest to Overweight from Neutral (7 Buys / 6 Holds / 1 Sell)

 

Peel Hunt Upgrades B&M European Value Retail SA to Buy from Hold (8 Buys / 4 Holds / 1 Sell)

Reporting Today:

UK

 

Dr. Martens

Foresight Group Holdings

Future

LXI REIT

 

 

US

 

Salesforce

 

Reporting Tomorrow:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

Chinese NBS Manufacturing PMI

Chinese NBS Non-Manufacturing PMI

German Retail Sales

OPEC Meeting

German Unemployment Change

EU Core Harmonized Index of Consumer Prices

EU Unemployment Rate

US Core Personal Consumption Expenditures – Price Index

US Initial Jobless Claims

US Personal Consumption Expenditures – Price Index

US Personal Income

US Personal Spending

US Chicago Purchasing Managers’ Index

US Pending Home Sales

Japanese Unemployment Rate

 

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 30th November 2023:

 

Severn Trent

3i Group

 

UK 250 companies going ex-dividend on 30th November 2023:

 

Diversified Energy Company

Bellway

Fidelity Special Values

Telecom Plus

Johnson Matthey

LondonMetric Property

AVI Global Trust

Temple Bar Investment Trust

FirstGroup

Hill & Smith

Alliance Trust

Caledonia Investments

Oxford Instruments

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