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Morning Report - 5 December 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Rolls-Royce Holdings PLC 285.8 3.3%
Jd Sports Fashion PLC 165.0 2.9%
Bt Group PLC 126.3 2.1%
B&M European Value Retail S.A. 600.2 1.9%
Wpp PLC 721.4 1.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Anglo American PLC 2,223.0 -3.8%
Glencore PLC 443.4 -3.1%
Antofagasta PLC 1,456.5 -2.6%
Burberry Group PLC 1,462.0 -2.4%
Rio Tinto PLC 5,468.0 -2.3%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,513 -0.2% -0.6%
DOW JONES INDUS. AVG 36,138 -0.3% 5.0%
DAX INDEX 16,405 0.0% 12.9%
NIKKEI 225 33,231 -0.6% 19.5%
S&P/ASX 200 INDEX 7,125 0.7% -2.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 73.43 -0.86%
Brent Crude (ICE) USD/bbl. 78.35 -0.67%
Gold Spot USD/t oz. 2,026 -2.3%
Copper (Comex) USd/lb. 384 -2.4%
The UK 100 called to open -45 points at 7,467

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -45 points at 7,467.  The UK 100 is expected to open lower on Tuesday after falls in US and Asian markets.  In Asia this morning, the Nikkei 225 was down 1.3% in late trade in Tokyo, while in China, the Shanghai Composite was 0.9% lower, and the Hang Seng in Hong Kong was 1.7% lower.  On Wall Street yesterday The Dow Jones shed 41.06 points, or 0.11%, to close at 36,204.44. The S&P dropped 0.54% to 4,569.78. The Nasdaq declined 0.84% to 14,185.49 as investors sold Big Tech shares, which have led the market’s gains this year.  In focus today will be, service sector PMI readings from the UK, Europe and US while the first of a number of releases on the US jobs market are due with the Jolts job vacancy report.

 

 

Company News & Broker Comments:

Company News:

Ashtead Group report a H1 pretax profit of $1.25bn up from £1.19bn YoY, as they state end markets in North America remain robust with healthy demand. They have lowered their Q1 rental revenue growth to between 11-13% down from 13-16%.

 

Barclays: Qatar wealth fund is set to sell almost half of its shares held in Barclays, seeking to raise £517m.

 

Rio Tinto have approved a $77m development of the Rhodes Ridge project in Western Australia.

 

SSP Group report a FY23 pretax profit of £88.1m, more than triple £25.2m YoY. They expect further strong profitability recovery despite inflationary pressures.

 

Broker Comments:

Goldman Sachs Upgrades British Land to Neutral from Sell (5 Buys / 4 Holds / 2 Sells)

 

Goldman Sachs Upgrades Land Securities to Buy from Neutral (5 Buys / 6 Holds / 2 Sells)

Reporting Today:

UK

 

Ashtead Group

Discoverie Group

Moonpig Group

SSP Group

 

 

US

 

 

Signet Jewelers

Asana

MongoDB

Reporting Tomorrow:

UK

 

Baltic Classifieds

 

 

US

 

GameStop

 

 

In Focus Today:

UK BRC Like-For-Like Retail Sales

Chinese Caixin Services PMI

German HCOB Composite PMI

German HCOB Services PMI

EU HCOB Composite PMI

EU Producer Price Index

US S&P Global Composite PMI

US ISM Services Employment Index

US ISM Services New Orders Index

US ISM Services PMI

US ISM Services Prices Paid

US JOLTS Job Openings

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 7th December 2023:

 

Next

JD Sports Fashion

 

 

UK 250 companies going ex-dividend on 7th December 2023:

 

 

Ninety One

Investec

SDCL Energy Efficiency Income Trust

Energean

JLEN Environmental Assets Group

Assura

LXi REIT

Intermediate Capital Group

Pets At Home Group

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