This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| Flutter Entertainment PLC | 13,140.0 | 2.7% |
| Admiral Group PLC | 2,621.0 | 1.5% |
| Tesco PLC | 300.8 | 1.3% |
| International Consolidated Airlines Group S.A. | 145.9 | 1.0% |
| Associated British Foods PLC | 2,288.0 | 1.0% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| Ocado Group PLC | 619.4 | -5.0% |
| Burberry Group PLC | 1,222.4 | -4.9% |
| B&M European Value Retail S.A. | 552.4 | -2.6% |
| St. James’s Place PLC | 623.0 | -2.3% |
| HSBC Holdings PLC | 597.0 | -2.2% |
| Major World Indices | Price | % Chg | 1 YEAR |
| UK 100 INDEX | 7,588 | -0.5% | -3.2% |
| DOW JONES INDUS. AVG | 37,593 | -0.3% | 9.6% |
| DAX INDEX | 16,634 | -0.4% | 10.3% |
| NIKKEI 225 | 35,902 | 0.9% | 39.0% |
| S&P/ASX 200 INDEX | 7,496 | 0.0% | 1.5% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 71.76 | -1.27% |
| Brent Crude (ICE) | USD/bbl. | 77.41 | -1.12% |
| Gold Spot | USD/t oz. | 2,053 | 0.2% |
| Copper (Comex) | USd/lb. | 378 | 1.1% |
Click graph to enlarge
The UK 100 called to open -28 points at 7,566. The UK 100 looks set to open lower despite slightly better-than-expected data on average earnings. The Office for National Statistic’s data showed annual growth in regular earnings (excluding bonuses) was 6.6% in September to November 2023, and annual growth in employees’ average total earnings (including bonuses) was 6.5% in September to November 2023. These compared to forecasts of 6.6% and 6.8% respectively. The unemployment rate was largely unchanged on the quarter to November at 4.2%. US markets were closed yesterday for Martin Luther King day. In Asia this morning, Hong Kong led declines in Asia-Pacific markets on Tuesday, with Japanese stocks also halting their record-breaking rally that has seen benchmark indexes hit multi-decade highs. Hong Kong’s Hang Seng index shed 2.01%, while mainland China’s CSI 300 index fell 0.48%. The Nikkei 225 dropped 0.79% to close at 35,619.18, snapping a six-day winning streak. The broad-based Topix fell 0.82% to 2,503.98. Japan’s December corporate goods price index came in flat year on year, compared with a 0.30% fall expected by economists in a Reuters poll. The CGPI climbed 0.30% month on month, compared with estimates of it remaining flat.
Experian posted a 9% rise in Q3 revenue, powered by strong demand for it new products and business wins, especially in the Latin America region. They now expect their annual organic revenue growth to be between 5-6%, compared to an earlier forecast of 4-6% growth.
Ocado Group state they will meet their forecast for a return to positive earnings for FY 2022/23 after reporting Q4 revenue growth of 10.9%. They also hit their highest ever level of sales over the peak Christmas trading period.
Qinetiq reports ”good performance” in Q3, with YTD orders at around £1.35bn.
Rio Tinto reported a 1% fall in its iron ore shipments in Q4, even as they ramped up production at their Guadi Darri mine in Western Australia.
Vodafone are to invest $1.5bn over 10 years in cloud and AI services with Microsoft.
Berenberg Downgrades Rolls-Royce to Sell from Hold (8 buys / 5 holds / 1 sell)
Berenberg Upgrades Direct Line to Buy from Hold (5 Buys / 5 Holds / 0 Sells)
CitiGroup Downgrades Drax Group to Sell from Buy (2 buys / 2 holds / 1 sell)
Goldman Sachs Downgrades ITV to Sell from Neutral (4 Buys / 3 Holds / 1 Sell)
Jefferies Downgrades Crest Nicholson Holdings to Hold from Buy (4 Buys / 3 Holds / 0 Sells)
Jefferies Upgrades Persimmon to Buy from Hold (3 Buys / 12 Holds / 1 Sell)
Peel Hunt Downgrades Taylor Wimpey to Hold from Add (8 Buys / 6 Holds / 0 Sells)
UK
Experian
IntegraFin Holdings
Ninety One
Ocado Group
Rio Tinto
US
Goldman Sachs
Morgan Stanley
UK
Antofagasta
Bankers Investment Trust
Diploma
Ibstock
Pearson
Rathbone Brothers
Safestore Holdings
Smiths Group
US
None
EU EcoFin Meeting
German Harmonized Index of Consumer Prices
UK Claimant Count Change
UK ILO Unemployment Rate
UK Employment Change
EU ZEW Survey – Economic Sentiment
German ZEW Survey – Economic Sentiment
German ZEW Survey – Current Situation
US NY Empire State Manufacturing Index
UK 100 companies going ex-dividend on 18th January 2023:
B&M European Value Retail S.A.
Compass Group
Diploma
UK 250 companies going ex-dividend on 18th January 2023:
NB Private Equity Partners
Games Workshop Group
Future
For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.
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.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.