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Morning Report - 14 September 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Aviva PLC 391.4 4.0%
Persimmon PLC 1,061.5 3.8%
Melrose Industries PLC 495.1 3.3%
HSBC Holdings PLC 611.6 2.4%
Barclays PLC 157.2 2.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
Ocado Group PLC 767.8 -4.2%
BP PLC 508.4 -2.8%
Croda International PLC 4,893.0 -2.7%
International Consolidated Airlines Group S.A. 154.4 -2.5%
Halma PLC 2,110.0 -2.5%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,530 0.0% 1.8%
DOW JONES INDUS. AVG 34,725 0.2% 11.5%
DAX INDEX 15,666 -0.3% 18.5%
NIKKEI 225 32,707 -0.2% 17.6%
S&P/ASX 200 INDEX 7,154 -0.7% 2.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 89.15 0.35%
Brent Crude (ICE) USD/bbl. 92.31 0.27%
Gold Spot USD/t oz. 1,914 0.0%
Copper (Comex) USd/lb. 381 0.4%
The UK 100 called to open +17 points at 7,542. 

4 hours; 6 Months

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Markets Overview:

The UK 100 called to open +17 points at 7,542.  The UK 100 looks set to open slightly higher this morning ahead of the interest rate decision by the European Central Bank, later today.  On Wall Street yesterday, The Dow Jones fell as traders absorbed a hotter-than-expected August core inflation print.  The Dow lost 70.46 points, or 0.20%, to end the session at 34,575.53 for its second straight decline. Meanwhile, the S&P was up 0.12% to trade at 4,467.44. The Nasdaq Composite  added 0.29% to end at 13,813.59.

 

 

Company News & Broker Comments:

Company News:

 

Hilton Food signs a supply deal with Walmart Canada and will open a manufacturing facility in eastern Canada with production to start in 2026.

 

 

IG Group says substantially lower volatility has hit their trading revenues but has been offset by interest income. They are confident in achieving their medium-term targets and they expect to announce their permanent CEO in the coming months.

 

 

Smith & Nephew brings current CFO of BT Group, Simon Lowth to their board.

 

 

THG report a H1 pretax loss of £133m as they state that trends are “gradually improving” in H2. They expect their FY23 adjusted EBITDA to be in line with expectations.

 

 

Trainline reports H1 total sales of £2.65bn, up from £2.16bn YoY and total revenue of £197m, up from £165m YoY. They have launched a share buyback of up to £50m and they are going to use it to invest in “strategic priorities”.

 

Broker Comments:

 

Investec Upgrades Associated British Foods to Add from Hold (6 Buys / 11 Holds / 0 Sells)

 

 

JP Morgan Upgrades Rio Tinto to Neutral from Underweight (6 Buys / 9 Holds / 1 Sell)

Reporting Today:

UK

 

Foresight Solar Fund

IG Group Holdings

Renishaw

Spire Healthcare Group

Trainline

 

 

 

US

 

Adobe

Reporting Tomorrow:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

ECB Monetary Policy Decision Statement

ECB Rate On Deposit Facility

ECB Rate On Main Refinancing Operations

US Initial Jobless Claims

US Producer Price Index ex Food & Energy

US Retail Sales

US Retail Sales Control Group

ECB Press Conference

 

This Morning’s Ex-Dividends:

UK 100 companies going ex-dividend on 14th September 2023:

 

Unite Group

Intertek Group

Melrose Industries

 

 

UK 250 companies going ex-dividend on 14th September 2023:

 

Apax Global Alpha

International Public Partnerships

Bakkavor Group

Energean

SDCL Energy Efficiency Income Trust

LXi REIT

Balanced Commercial Property Trust

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