Getting latest data loading
Home / Morning Report / Morning Report – 28th November 2023

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 28 November 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Fresnillo PLC 556.0 5.2%
Rightmove PLC 533.0 4.7%
Endeavour Mining PLC 1,772.0 2.2%
Admiral Group PLC 2,716.0 2.0%
Howden Joinery Group PLC 716.8 1.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
St. James’s Place PLC 649.6 -1.8%
BAE Systems PLC 1,048.5 -1.8%
Astrazeneca PLC 10,008.0 -1.7%
Entain PLC 848.0 -1.3%
Burberry Group PLC 1,510.5 -1.2%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,468 -0.3% -0.2%
DOW JONES INDUS. AVG 35,337 -0.2% 2.9%
DAX INDEX 16,000 -0.2% 10.0%
NIKKEI 225 33,448 -0.5% 18.8%
S&P/ASX 200 INDEX 6,988 -0.8% -3.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 75.98 0.58%
Brent Crude (ICE) USD/bbl. 80.96 0.47%
Gold Spot USD/t oz. 2,010 0.5%
Copper (Comex) USd/lb. 380 -0.8%
The UK 100 called to open -12 points at 7,448

4 hours; 2 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -12 points at 7,448.  The UK 100 looks set to open lower this morning after falls in US markets.  Data this morning showed that UK shop price inflation fell for the sixth month in a row in November, hitting levels not seen since June 2022, should support the mood.  Annual inflation decelerated to 4.3% in November, down from 5.2% in October, according to BRC-Nielsen Shop Price Index data.  The Dow Jones lost 56.68 points, or 0.16%, to 35,333.47. The S&P shed 0.20% to 4,550.43. The Nasdaq edged lower 0.07% to 14,241.02.

 

 

Company News & Broker Comments:

Company News:

Digital 9 Infrastructure have agreed to sell their stake in Verne Global for $575m as they seek to cut debt and boost their finances.

 

 

EasyJet reported 2023 earnings in line with analyst expectations after a strong year of robust travel demand and forward bookings, but the outlook for the coming year was slightly impacted by geopolitical uncertainty in the Middle East. Earnings before interest and tax for the financial year were reported at £476m.

 

 

Pets at Home report that their like-for-like retail growth came in at nearly 4% in the early week of Q3, as customers gear up for the Christmas season and continue to spend on their pets. Their underlying profit before tax was down 19.3% to £47.8m as they ramped up investments and grappled with higher logistics costs.

 

 

Rolls-Royce have set a target to deliver up to £2.8bn of operating profit in the medium term by increasing the margin on its civil aerospace business from 2.5% last year to 15-17%.

 

Broker Comments:

Barclays Upgrades Smith & Nephew to Equal-Weight from Underweight (8 Buys / 4 Holds / 0 Sells)

 

CitiGroup Upgrades B&M European Value Retail SA to Buy from Neutral (8 Buys / 4 Holds / 1 Sell)

 

Jefferies Upgrades Ashmore Group to Buy from Hold (2 Buys / 6 Holds / 1 Sell)

 

Morgan Stanley Downgrades Man Group to Equal-Weight from Overweight (7 Buys / 3 Holds / 1 Sell)

 

Morgan Stanley Upgrades Lloyds to Overweight from Equal-Weight (9 Buys / 4 Holds / 1 Sell)

Reporting Today:

UK

 

Pets at Home Group

Safestore Holdings

easyJet

 

 

US

 

CrowdStrike

Intuit

 

Reporting Tomorrow:

UK

 

Pennon Group

 

 

US

 

Snowflake

Synopsys

 

 

In Focus Today:

German Gfk Consumer Confidence Survey

US Housing Price Index

US Consumer Confidence

BoE’s Haskel speech

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 30th November 2023:

 

Severn Trent

3i Group

 

UK 250 companies going ex-dividend on 30th November 2023:

 

Diversified Energy Company

Bellway

Fidelity Special Values

Telecom Plus

Johnson Matthey

LondonMetric Property

AVI Global Trust

Temple Bar Investment Trust

FirstGroup

Hill & Smith

Alliance Trust

Caledonia Investments

Oxford Instruments

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.


Back to Top

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.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.