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Morning Report - 17 January 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Experian PLC 3,200.0 2.4%
Hikma Pharmaceuticals PLC 1,975.5 2.2%
Ocado Group PLC 632.2 2.1%
Burberry Group PLC 1,229.5 1.4%
Compass Group PLC 2,221.0 1.4%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
JD Sports Fashion PLC 108.4 -4.4%
Rightmove PLC 540.2 -4.4%
Fresnillo PLC 508.5 -3.6%
Standard Chartered PLC 592.4 -2.1%
Barclays PLC 142.0 -2.0%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,570 -0.3% -3.7%
DOW JONES INDUS. AVG 37,386 -0.6% 8.9%
DAX INDEX 16,577 -0.3% 9.4%
NIKKEI 225 35,619 -0.8% 36.3%
S&P/ASX 200 INDEX 7,415 -1.1% 0.4%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.89 -1.09%
Brent Crude (ICE) USD/bbl. 77.80 -0.45%
Gold Spot USD/t oz. 2,034 -1.1%
Copper (Comex) USd/lb. 376 0.6%
The UK 100 called to open -100 points at 7,458.

4 Hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -100 points at 7,458.  The UK 100 is expected to open sharply lower after stronger-than-expected UK inflation figures and disappointing data from China.  This follows on from a disappointing session as markets reopened yesterday on Wall Street, The Dow declined 231.86 points, or 0.62%, to close at 37,361.12. The S&P slipped 0.37% to end at 4,765.98, and the Nasdaq dropped 0.19% to 14,944.35.  In Asia this morning, Chinese equities on the mainland and in Hong Kong opened down following the release of official housing data for December, highlighting weak sentiment due to an ongoing property downturn.

 

 

Company News & Broker Comments:

Company News:

Antofagasta reported a 2% rise in 2023 copper production, on higher output at its flagship project Los Pelambres due to improved water availability.

 

BP says interim CEO Murray Auchincloss has been appointed as permanent CEO.

 

Ibstock sees their FY adjusted EBITDA to be in line with previous expectations.

 

Pearson have met their guidance for 2023, with underlying sales growing 5% and adjusted operating profit rising 30% to around £570-576m.

 

Spirax-Sarco says Phil Scott has taken up position as interim CFO.

 

Wizz Air Holdings are deemed customer compliant by aviation authority after 2022 disruptions.

 

 

Broker Comments:

Goldman Sachs Upgrades IAG to Buy from Neutral (9 Buys / 4 Holds / 0 Sells)

 

Goldman Sachs Upgrades IMI Plc to Buy from Neutral (6 Buys / 8 Holds / 0 Sells)

 

RPT/UBS Downgrades Shell to Neutral from Buy (8 Buys / 4 Holds / 0 Sells)

 

UBS Downgrades Admiral Group to Neutral from Buy (2 Buys / 4 Holds / 2 Sells)

 

UBS Downgrades M&G to Neutral from Buy (4 Buys / 5 Holds / 0 Sells)

Reporting Today:

UK

 

Antofagasta

Bankers Investment Trust

Diploma

Ibstock

Pearson

Rathbone Brothers

Safestore Holdings

Smiths Group

 

 

US

 

None

Reporting Tomorrow:

UK

 

AJ Bell

Bakkavor Group

Centamin

Currys

Dr. Martens

Energean

Flutter Entertainment

Hays

Marshalls

Sage Group

W.A.G Payment Solutions

 

US

 

Taiwan Semiconductor Manufacturing

 

 

In Focus Today:

Chinese Gross Domestic Product

Chinese Industrial Production

Chinese Retail Sales

Chinese Gross Domestic Product

UK Core Consumer Price Index

UK Producer Price Index – Output

UK Retail Price Index

EU Harmonized Index of Consumer Prices

US Retail Sales

US Industrial Production

Fed’s Beige Book

 

Tomorrow’s Ex-Dividends:

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

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