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Morning Report - 23 January 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Entain PLC 953.3 4.0%
Persimmon PLC 1,492.1 3.8%
Jd Sports Fashion PLC 114.9 3.2%
Barclays PLC 145.4 3.1%
Barratt Developments PLC 538.8 2.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Glencore PLC 399.3 -3.2%
Endeavour Mining PLC 1,343.0 -2.9%
Rio Tinto PLC 5,274.9 -1.9%
Anglo American PLC 1,749.0 -1.4%
Smurfit Kappa Group PLC 2,882.0 -1.3%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,500 0.5% -3.9%
DOW JONES INDUS. AVG 38,034 0.5% 14.0%
DAX INDEX 16,674 0.7% 10.5%
NIKKEI 225 36,547 1.6% 35.8%
S&P/ASX 200 INDEX 7,477 0.8% 0.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 74.54 1.54%
Brent Crude (ICE) USD/bbl. 79.68 1.43%
Gold Spot USD/t oz. 2,023 -0.3%
Copper (Comex) USd/lb. 376 -0.8%
The UK 100 called to open +30 points at 7,517

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +30 points at 7,517.  The UK 100 is expected to push higher on today after US stocks hit fresh highs on Monday.  Stocks rose On Wall Street yesterday as investors built on the previous session’s historic move to record highs.  The Dow Jones climbed 138.01 points, or 0.36%, to finish at 38,001.81. Monday’s gains pushed the blue-chip average to a new record and above the 38,000 level for the first time. The S&P added 0.22% to 4,850.43, also reaching a fresh all-time high. The Nasdaq advanced 0.32% to 15,360.29.  In Asia on Tuesday, the Nikkei 225 index in Tokyo closed down 0.1% after The Bank of Japan maintained its monetary easing measures, as speculation grows of a shift away from its ultra-loose stance.

 

 

Company News & Broker Comments:

Company News:

Associated British Foods reported a 2.1% rise in underlying sales at its Primark clothing business in the Christmas quarter, a slowdown from growth of 8% in the previous quarter. They have kept their forecast for this year of “meaningful progress” in both profitability and cash generation.

 

Boohoo appoints Stephen Morana as their new CFO with effect from Feb 19th, who will replace Shaun McCabe. They also state that their trading is in line with market expectations.

 

Crest Nicholson reiterated their forecast of an encouraging calendar year due to an increase in customer enquires despite a bigger-than-expected fall in its 2023 profit. Their adjusted pretax profit for the year ended Dec 31st came in at £41.4m, compared with £137.8m a year earlier. Average analyst estimates were expecting a profit of £44m.

 

Premier Foods reported a 14.4% jump in Q3 sales, citing strong festive demand for its products.

 

Vistry have been picked by Greater London Authority and Mayor to build 739 new homes in Barnet, which is part of a £276m gross development value scheme.

 

 

Broker Comments:

Berenberg Downgrades Victrex to Hold from Buy (2 Buys / 5 Holds / 1 Sell)

 

RPT/HSBC Downgrades Compass Group to Hold from Buy (10 Buys / 7 Holds / 0 Sells)

 

RPT/HSBC Downgrades FirstGroup to Hold from Buy (4 Buys / 1 Hold / 0 Sells

Reporting Today:

UK

 

Associated British Foods

Crest Nicholson Holdings

Premier Foods

 

US

 

3M Co

General Electric

Johnson & Johnson

Procter & Gamble

Verizon Communications

Intuitive Surgical

Netflix

Visa Inc Class A

Reporting Tomorrow:

UK

 

Computacenter

Fresnillo

Hochschild Mining

Quilter

TI Fluid Systems

Wetherspoon (JD)

Paypoint Group

easyJet

 

US

 

AT&T

International Business Machines

ServiceNow Inc

Tesla

 

 

In Focus Today:

BoJ Outlook Report

BoJ Monetary Policy Statement

BoJ Interest Rate Decision

BoJ Press Conference

ECB Bank Lending Survey

EU Consumer Confidence

Japanese Imports

Japanese Merchandise Trade Balance Total

Japanese Exports

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 25th January 2023:

 

None

 

 

UK 250 companies going ex-dividend on 25th January 2023:

 

 

Ferrexpo

Victrex

Sequoia Economic Infrastructure Inc Fnd

Pennon Group

Foresight Solar Fund

City of London Investment Trust

Bankers Investment Trust

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