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Morning Report - 17 October 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
St. James’s Place PLC 672.2 5.0%
Next PLC 7,090.0 3.4%
Hargreaves Lansdown PLC 761.8 3.0%
Rio Tinto PLC 5,217.0 2.8%
Severn Trent PLC 2,516.0 2.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Ocado Group PLC 500.0 -5.8%
Intertek Group PLC 4,135.0 -1.6%
Airtel Africa PLC 116.5 -1.4%
Gsk PLC 1,493.2 -1.1%
Experian PLC 2,751.0 -0.9%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,631 0.4% 10.3%
DOW JONES INDUS. AVG 33,985 0.9% 12.6%
DAX INDEX 15,238 0.3% 20.5%
NIKKEI 225 32,040 1.2% 19.7%
S&P/ASX 200 INDEX 7,056 0.4% 5.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 86.62 -0.05%
Brent Crude (ICE) USD/bbl. 89.78 0.14%
Gold Spot USD/t oz. 1,917 -0.1%
Copper (Comex) USd/lb. 355 -1.0%
The UK 100 called to open -2 points at 7,628.

4 hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -2 points at 7,628. The UK 100 is expected to make a subdued open as investors await UK wage inflation figures. Hopes that a diplomatic push in the Middle East would stop the crisis in the Middle East spreading boosted US markets with the Dow Jones Industrial Average up 0.9%, the S&P 500 up 1.1% and the Nasdaq Composite 1.2%.  Asian markets followed suit with the Nikkei 225 in Tokyo up 1.0%. In China, the Shanghai Composite was marginally higher, while the Hang Seng index in Hong Kong was up 0.5%.

 

 

Company News & Broker Comments:

Company News:

Aviva expects their UK wealth market to nearly triple to £3.4 trillion.

 

Bellway has warned of persistent challenges in the housing sector, weighed down by weak demand in the wake of high mortgage rates after they reported an 18% fall in their annual profit. Their underlying pretax profit for the year ended July 31st came in at £532.6m, slightly below average analyst expectations of £533.4m.

 

Melrose Industries sees their FY margin to be around 24% as they have “full confidence” in achieving their 2025 targets, in part due to current trading.

 

Rio Tinto reported a strong quarterly output after they reported a rise in their Q3 iron ore shipments, as they ramped up production at their Guadi-Darri mine. Iron ore shipments were 83.9 tonnes, up 1.2% YoY, Aluminium production rose 9.1% YoY and Pilbara iron ore production fell 0.9% YoY.

 

Rolls-Royce confirms reports that they will axe 2,000-2,500 jobs worldwide.

 

Serco wins a contract for DWP functional assessment services, worth £350m.

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Bellway

IntegraFin Holdings

Moneysupermarket.com

Ninety One

Rio Tinto

 

 

 

US

 

Bank of America Corp

Goldman Sachs

Johnson & Johnson

Reporting Tomorrow:

UK

 

Antofagasta

Liontrust Asset Management

Quilter

Segro

Whitbread

 

 

US

 

Morgan Stanley

Procter & Gamble

Netflix

Tesla

 

 

In Focus Today:

UK Claimant Count Change

UK Employment Change

UK ILO Unemployment Rate

EcoFin Meeting

EU ZEW Survey – Economic Sentiment

German ZEW Survey – Current Situation

German ZEW Survey – Economic Sentiment

NY Empire State Manufacturing Index

US Retail Sales

US Retail Sales Control Group

US Industrial Production

 

This 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

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.


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