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Morning Report - 11 August 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Burberry Group PLC 2,261.0 3.0%
Croda International PLC 5,632.0 2.6%
Rightmove PLC 590.6 2.4%
Prudential PLC 1,039.0 2.3%
Flutter Entertainment PLC 14,725.0 2.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
Rio Tinto PLC 4,787.2 -3.4%
Spirax-Sarco Engineering PLC 10,495.0 -3.1%
Fresnillo PLC 536.6 -2.3%
Natwest Group PLC 235.3 -1.3%
Smurfit Kappa Group PLC 3,160.0 -1.2%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,611 0.3% 1.0%
DOW JONES INDUS. AVG 35,349 0.6% 6.1%
DAX INDEX 15,994 0.9% 16.1%
NIKKEI 225 32,474 0.8% 16.7%
S&P/ASX 200 INDEX 7,357 0.3% 4.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 83.47 -1.10%
Brent Crude (ICE) USD/bbl. 86.84 -0.81%
Gold Spot USD/t oz. 1,914 -0.1%
Copper (Comex) USd/lb. 377 -0.3%
The UK 100 called to open -38 points at 7,580

4 hours; 2 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -38 points at 7,580.  The UK 100 is set to open lower after US markets closed well below earlier highs while the UK economy posted modest growth in the second quarter of 2023.  Data from the Office for National Statistics showed the UK economy grew by 0.2% between April and June, compared to zero growth in the previous quarter which was also what City commentators were expecting.  Gross domestic product rose 0.5% in June after an unrevised fall of 0.1% in May 2023 and growth of 0.2% in April 2023.  In the US, hawkish comments from San Francisco Federal Reserve Bank President Mary Daly dragged to US stocks closing off early strong gains, Daly was speaking after better than expected US inflation figures but while accepting the news was good, inflation is still too high, leaving the central bank with “more work to do”.

 

 

Company News & Broker Comments:

Company News:

 

Emis: The UK Competition and Markets Authority provisionally clears UnitedHealth’s purchase of Emis.

 

 

Murray International Trust reports a NAV per share on June 30th of 257.9p, down from 258.7p on Dec 31st.

 

 

Rio Tinto and Simfer JV reach agreement on trans-Guinean infrastructure for Simandou.

 

Broker Comments:

 

Deutsche Bank Downgrades Domino’s Pizza to Hold from Buy (3 Buys / 4 Holds / 0 Sells)

 

RBC Downgrades CVS Group to ‘Sector Perform’ from Outperform (6 Buys / 2 Holds / 0 Sells)

Reporting Today:

UK

 

Murray International Trust

 

 

 

 

US

 

None

Reporting Tomorrow:

UK

 

Plus 500

 

 

US

 

 

None

 

 

In Focus Today:

UK Gross Domestic Product

UK Manufacturing Production

US Producer Price Index

Michigan Consumer Sentiment Index

UoM 5-year Consumer Inflation Expectation

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 17th August 2023:

 

abrdn

Anglo American

Schroders

Berkeley Group Holdings

Imperial Brands

GSK

Hiscox

Entain

ConvaTec Group

London Stock Exchange Group

Pershing Square Holdings

 

 

UK 250 companies going ex-dividend on 17th August 2023:

 

Investec

Bridgepoint Group

Tritax EuroBox GBP

Bluefield Solar Income Fund

Keller Group

UK Commercial Property REIT

Octopus Renewables Infrastructure Trust

Murray Income Trust

4imprint Group

Rotork

Chemring Group

ICG Enterprise Trust

Lancashire Holdings

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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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