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Morning Report - 13 October 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
BP PLC 537.0 3.2%
Sage Group PLC 1,019.5 1.9%
Melrose Industries PLC 481.7 1.8%
Bae Systems PLC 1,070.5 1.6%
Astrazeneca PLC 11,114.0 1.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Taylor Wimpey PLC 111.4 -4.6%
Fresnillo PLC 529.6 -3.0%
Croda International PLC 4,412.0 -2.9%
Barclays PLC 152.6 -2.9%
Ocado Group PLC 572.2 -2.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,650 0.4% 12.4%
DOW JONES INDUS. AVG 33,699 -0.3% 15.3%
DAX INDEX 15,438 -0.1% 27.4%
NIKKEI 225 32,495 1.8% 23.9%
S&P/ASX 200 INDEX 7,091 0.0% 6.8%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 84.66 1.40%
Brent Crude (ICE) USD/bbl. 87.15 1.55%
Gold Spot USD/t oz. 1,872 -0.1%
Copper (Comex) USd/lb. 359 -0.6%
The UK 100 called to open -3 points at 7,641

4 hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -3 points at 7,641.  The UK 100 is expected to open marginally lower on Friday after slightly stronger than expected US inflation data put the possibility of a US rate hike back on the table, and after weak trade data from China.  Yesterday on Wall Street saw the Dow Jones fall 0.5%, while the S&P and the Nasdaq Composite both gave up 0.6% after the US yearly inflation rate was unmoved at 3.7%.  In China, inflation was flat, while the producer price index fell 2.5%, according to official data released this morning, trade figures showed exports fell 6.2% annually in September, better than the 8.3% fall expected while imports declined 6.2% from the year before, slightly worse than estimates  of 6.0%.

 

 

Company News & Broker Comments:

Company News:

Ashmore Group have stated that their assets under management have declined in their last quarter, amid subdued market conditions due to weaker China economic data and high interest rates. They reported net outflows of $2.9bn during the quarter, bringing their assets under management down to $51.7bn from the $55.9bn at the end of June.

 

British American Tobacco appoints Cora Koppe-Stahrenberg as their new chief of people officer.

 

Crest Nicholson hires William Floydd as finance director, replacing Duncan Cooper.

 

Broker Comments:

JP Morgan Upgrades Deliveroo to Neutral from Underweight (5 Buys / 4 Holds / 0 Sells)

Reporting Today:

UK

 

Ashmore

 

 

 

US

 

BlackRock

Citigroup Inc

JPMorgan Chase & Co

UnitedHealth Group

Wells Fargo & Co

Reporting Tomorrow:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

US IMF Meeting

Chinese Consumer Price Index

Chinese Producer Price Index

Chinese Exports

Chinese Imports

Chinese Trade Balance

EU Industrial Production

US Michigan Consumer Sentiment Index

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 19th October 2023:

 

Smiths Group

BAE Systems

 

 

UK 250 companies going ex-dividend on 19th October 2023:

 

Close Brothers Group

ITV

Foresight Solar Fund

Marshalls

Coats Group

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