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Morning Report - 18 September 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Endeavour Mining PLC 1,629.0 3.0%
Burberry Group PLC 2,166.0 2.6%
Fresnillo PLC 595.4 2.5%
Flutter Entertainment PLC 14,955.0 2.4%
Barratt Developments PLC 460.8 2.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
Bt Group PLC 117.0 -1.5%
Imperial Brands PLC 1,754.0 -0.9%
Land Securities Group PLC 595.6 -0.8%
JD Sports Fashion PLC 139.8 -0.6%
Scottish Mortgage Investment Trust PLC 697.6 -0.6%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,725 0.7% 6.2%
DOW JONES INDUS. AVG 34,700 -0.6% 12.6%
DAX INDEX 15,882 0.5% 23.1%
NIKKEI 225 33,533 1.1% 21.6%
S&P/ASX 200 INDEX 7,279 1.3% 6.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 90.60 0.49%
Brent Crude (ICE) USD/bbl. 93.72 0.02%
Gold Spot USD/t oz. 1,928 0.9%
Copper (Comex) USd/lb. 379 -0.8%
The UK 100 called to open -11 points at 7,700

4 hours; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -11 points at 7,700.   The UK 100 looks set to open marginally lower this morning, ahead of a key week of interest rates decisions from the Federal Reserve, the Bank of England and the bank of Japan. On Friday the Dow Jones Industrial Average slid 288.87 points, or by 0.83%, to end the day and week at 34,618.24. The S&P 500 was lower by 1.22% to 4,450.32, while the Nasdaq dropped 1.56% to 13,708.33.

 

Company News & Broker Comments:

Company News:

Diversified Energy CFO Eric Williams resigns effective immediately.

 

 

Mondi agrees to sell Syktyvkar mill in Russia to Sezar Invest for around 775m euros.

 

 

Phoenix Group Holdings report that they expect their 2023 cash generation to come in at the top-end of its forecast range after new business long-term cash more than doubled in H1. They had forecast that 2023 cash generation would be between £1.3-1.4bn.

 

 

S4 Capital have cut their annual forecast again, saying L-f-L net revenue was now expected to fall YoY and its operational core earnings margin would be 12-13.5% down from 14.5-15.5%.

 

Broker Comments:

RBC Upgrades Fevertree Drinks to ‘Sector Perform’ from Underperform (4 Buys / 10 Holds / 2 Sells)

Reporting Today:

UK

 

HgCapital Trust

Phoenix Group Holdings

 

 

 

US

 

None

Reporting Tomorrow:

UK

 

Hargreaves Lansdown

Kingfisher

Ocado Group

Sthree

 

 

US

 

None

 

 

In Focus Today:

German Buba Monthly Report

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 21st September 2023:

 

None

 

 

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

 

Rathbones Group

 

UK 250 companies going ex-dividend on 21st September 2023:

 

Crest Nicholson Holdings

IG Group Holdings

FDM Group (Holdings)

Fidelity European Trust

Essentra

Grafton Group

JTC

Dowlais Group

Redrow

abrdn Private Equity Opportunities Trust

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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.


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