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Morning Report - 7 December 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Prudential PLC 888.6 4.1%
BT Group PLC 135.5 4.1%
Fresnillo PLC 588.2 3.4%
International Consolidated Airlines Group S.A. 161.0 3.3%
Anglo American PLC 2,226.0 3.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
British American Tobacco PLC 2,283.5 -8.2%
Diageo PLC 2,772.0 -1.4%
Shell PLC 2,500.5 -1.0%
Imperial Brands PLC 1,845.0 -1.0%
Rentokil Initial PLC 422.0 -0.8%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,532 0.6% 0.1%
DOW JONES INDUS. AVG 36,180 0.2% 7.9%
DAX INDEX 16,674 0.9% 16.0%
NIKKEI 225 33,446 2.0% 20.8%
S&P/ASX 200 INDEX 7,178 1.7% -0.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 70.15 -3.00%
Brent Crude (ICE) USD/bbl. 75.25 -2.53%
Gold Spot USD/t oz. 2,029 0.5%
Copper (Comex) USd/lb. 379 0.1%
The UK 100 called to open -28 points at 7,487

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -28 points at 7,487.  The UK 100 is expected to open lower after falls In Asian markets amid mixed Chinese trade figures, while US markets reversed early gains to close in the red.  In the US yesterday, Wall Street ended lower, with the Dow Jones down 0.2%, the S&P down 0.4% and the Nasdaq down 0.6%.

 

 

Company News & Broker Comments:

Company News:

AJ Bell report a FY pretax profit of £87.7m.

 

Balfour Beatty says their year-end order book is expected to be marginally higher than £16.4bn and their underlying profit is to be in line with the prior year at £232m. They do expect a £26m gain on investment disposals.

 

DS Smith state that their CEO Miles Roberts will retire after 13 years of service at the British cardboard maker and he will step down no later than 30th  November 2025 as his formal notice period starts on the 1st December 2024. They state that their FY trading was in line with management’s expectations as they report a H1 pretax profit of £268m.

 

Future report a FY23 pretax profit of £138.1m, down from £170m YoY. Their CFO Penny Ladkin-Brand is to step down from the board later next year as they declare a final dividend of 3.4p per share.

 

Watches of Switzerland report H1 revenue of £761m and an adjusted EBITDA of £94m.

 

Broker Comments:

Exane BNP Downgrades Vodafone to Underperform (7 Buys / 7 Holds / 0 Sells)

 

JP Morgan Downgrades IAG to Underweight from Neutral (10 Buys / 4 Holds / 0 Sells)

 

RBC Upgrades BP to ‘Energy Best Ideas List’ (7 Buys / 5 Holds / 0 Sells)

 

Société Générale Downgrades Petrofac to Hold from Buy (2 Buys / 6 Holds / 0 Sells)

Reporting Today:

UK

 

AJ Bell

DS Smith

Watches of Switzerland Group

 

 

US

 

Broadcom

Reporting Tomorrow:

UK

 

AJ Bell

DS Smith

Watches of Switzerland Group

 

 

US

 

Berkeley Group Holdings

 

 

In Focus Today:

Chinese Exports

Chinese Imports

Chinese Trade Balance

German Industrial Production s.a.

EU Employment Change

EU Gross Domestic Product s.a.

US Challenger Job Cuts

US Initial Jobless Claims

Japanese Gross Domestic Product

 

This Morning’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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