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Morning Report - 1 December 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Smurfit Kappa Group PLC 3,008.0 4.7%
Smith (Ds) PLC 290.6 2.3%
Rolls-Royce Holdings PLC 268.8 2.1%
Bunzl PLC 3,002.0 2.0%
Standard Chartered PLC 653.2 2.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
Severn Trent PLC 2,601.0 -4.2%
United Utilities Group PLC 1,091.0 -3.0%
Beazley PLC 536.0 -2.6%
Airtel Africa PLC 109.5 -2.1%
Rentokil Initial PLC 428.7 -1.4%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,454 0.4% -1.4%
DOW JONES INDUS. AVG 35,951 1.5% 4.5%
DAX INDEX 16,215 0.3% 11.9%
NIKKEI 225 33,432 -0.2% 18.4%
S&P/ASX 200 INDEX 7,073 -0.2% -3.8%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 75.69 -0.36%
Brent Crude (ICE) USD/bbl. 80.54 -0.40%
Gold Spot USD/t oz. 2,040 0.2%
Copper (Comex) USd/lb. 385 -0.1%
The UK 100 called to open +34 points at 7,487.

4 hours; 2 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +34 points at 7,487.  The UK 100 is expected to make a positive start this morning after strong gains by US blue-chips yesterday and ahead of a raft of PMI readings in Europe, the UK and US through the day.  Wall Street ended mixed, with the Dow Jones Industrial Average up 1.5%, rising more than 500 points, the S&P was also up, by 0.4%, the Nasdaq however was down 0.2%. This came as equities received a boost on Thursday from cooling inflation figures in the US and Europe raising hopes that interest rates would be cut sooner than thought.  Energy stocks will be in focus after oil prices slipped despite OPEC+ agreeing a further production cut at yesterday’s meeting.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca have discontinued two Crystalize evidence phase 3 trials due to substantially increased enrolment timelines.

 

Fresnillo appoint Daniel Diez as their COO of Northern region effective immediately.

 

Broker Comments:

Deutsche Bank Downgrades ITV to Hold from Buy (5 Buys / 2 Holds / 1 Sell)

 

Deutsche Bank Downgrades Pearson to Hold from Buy (6 Buys / 2 Holds / 0 Sells)

 

Jefferies Downgrades Antofagasta to Hold (4 Buys / 9 Holds / 2 Sells)

 

JP Morgan Downgrades Tesco to Underweight from Neutral (6 Buys / 2 Holds / 0 Sells)

 

Keefe, Bruyette & Woods Downgrades Legal & General to Underperform (3 Buys / 7 Holds / 0 Sells)

 

Panmure Downgrades Trainline to Hold from Buy (8 Buys / 1 Hold / 0 Sells)

 

UBS Upgrades Anglo American to Buy from Neutral (8 Buys / 5 Holds / 0 Sells)

 

UBS Upgrades Antofagasta to Buy from Neutral (4 Buys / 9 Holds / 2 Sells)

Reporting Today:

UK

 

None

 

 

US

 

None

 

Reporting Tomorrow:

UK

 

SDCL Energy Efficiency Income Trust

 

 

US

 

None

 

 

In Focus Today:

Chinese Caixin Manufacturing PMI

German HCOB Manufacturing PMI

US ISM Manufacturing PMI

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 7th December 2023:

 

Next

JD Sports Fashion

 

 

UK 250 companies going ex-dividend on 7th December 2023:

 

 

Ninety One

Investec

SDCL Energy Efficiency Income Trust

Energean

JLEN Environmental Assets Group

Assura

LXi REIT

Intermediate Capital Group

Pets At Home Group

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