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Morning Report - 24 August 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Endeavour Mining PLC 1,661.0 3.7%
Unite Group PLC 933.5 2.8%
Fresnillo PLC 551.8 2.6%
Ocado Group PLC 738.2 2.5%
Segro PLC 722.4 2.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
Jd Sports Fashion PLC 132.8 -5.7%
BP PLC 468.7 -1.9%
Frasers Group PLC 783.0 -1.5%
B&M European Value Retail S.A. 562.0 -1.2%
Centrica PLC 144.8 -1.1%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,308 0.5% -2.2%
DOW JONES INDUS. AVG 34,410 0.4% 4.6%
DAX INDEX 15,705 0.0% 19.0%
NIKKEI 225 32,010 0.5% 13.1%
S&P/ASX 200 INDEX 7,148 0.4% 2.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.46 -1.48%
Brent Crude (ICE) USD/bbl. 82.69 -1.59%
Gold Spot USD/t oz. 1,915 0.9%
Copper (Comex) USd/lb. 383 1.1%
The UK 100 called to open +41 points at 7,361.

4 hours; 6 Months

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Markets Overview:

The UK 100 called to open +41 points at 7,361.   The UK 100 looks to start the session on the front foot today as Asian shares rallied on Thursday after blockbuster results from tech blue chip Nvidia boosted Wall Street and a retreat in U.S. bond yields eased pressure on borrowing costs globally.  A round of soft surveys on manufacturing had also revived hopes central banks were done tightening, though that might change depending on what clues about interest rates Federal Reserve Chairman Jerome Powell gives at an annual central bank summit in Jackson Hole, Wyoming, on Friday.

 

 

Company News & Broker Comments:

Company News:

 

AstraZeneca’s Lynparza plus abiraterone has been approved in Japan for form of prostate cancer.

 

 

Harbour Energy have narrowed their annual production and capital expenditure outlook. They expect production to be between 185-195 kboepd for 2023, compared with an earlier forecast of 185-200 kboepd. Their total capital expenditure is expected to come in at $1bn, from $1.1bn announced previously.

 

 

Hays state that Dirk Hahn would succeed Alistair Cox as it next CEO from September after reporting an annual profit ahead of market expectations. They reported an operating profit of £197m, compared with average analyst expectations of £193.9m.

 

 

Hunting are to further restructure their operations by disposing of non-core exploration and production assets, as they seek to cut costs.

 

 

Intertek buys PlayerLync, SaaS-based platform.

 

Broker Comments:

 

Credit Suisse Upgrades Pennon Group to Outperform from Neutral (3 Buys / 6 Holds / 1 Sell)

Reporting Today:

UK

 

CRH

Harbour Energy

Hays

 

 

 

US

 

Intuit

Reporting Tomorrow:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

ECB Monetary Policy Meeting Accounts

US Durable Goods Orders

US Initial Jobless Claims

US Nondefense Capital Goods Orders ex Aircraft

Jackson Hole Symposium

UK GfK Consumer Confidence

Tokyo Consumer Price Index

 

This Morning’s Ex-Dividends:

UK 100 companies going ex-dividend on 24th August 2023:

 

Aviva

Legal & General Group

St. James’s Place

Mondi

Diageo

Land Securities Group

Auto Trader Group

Haleon

 

 

UK 250 companies going ex-dividend on 24th August 2023:

 

Plus500

Hammerson

OSB Group

Henderson Smaller Cos Inv Tst

Ibstock

HICL Infrastructure

Drax Group

RHI Magnesita N.V.

Shaftesbury Capital

Temple Bar Investment Trust

Just Group

Witan Investment Trust

Personal Assets Trust

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