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Morning Report - 2 August 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Weir Group PLC 1,874.0 2.1%
Rightmove PLC 580.2 1.7%
HSBC Holdings PLC 656.7 1.6%
Centrica PLC 139.1 0.8%
Diageo PLC 3,421.5 0.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Beazley PLC 524.4 -4.4%
Fresnillo PLC 592.2 -4.2%
Jd Sports Fashion PLC 152.9 -3.0%
Pearson PLC 841.2 -2.7%
St. James’s Place PLC 916.8 -2.5%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,670 -0.4% 3.6%
DOW JONES INDUS. AVG 35,565 0.0% 8.4%
DAX INDEX 16,297 -0.9% 20.9%
NIKKEI 225 33,477 0.9% 19.6%
S&P/ASX 200 INDEX 7,451 0.5% 6.6%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 81.07 -0.89%
Brent Crude (ICE) USD/bbl. 84.72 -0.83%
Gold Spot USD/t oz. 1,943 -1.1%
Copper (Comex) USd/lb. 393 -1.9%
The UK 100 called to open -60 point at 7,606

4 hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -60 point at 7,606. The UK 100 looks set to fall after Fitch downgraded the US credit rating in a decision branded “arbitrary” by the country’s Treasury Secretary.  This morning saw Asian markets fall with the Nikkei 225 in Tokyo down 2.2%, the Shanghai Composite in China down 0.9% and the Hang Seng in Hong Kong 2.1% worse off.  Stateside yesterday saw the S&P lost 0.27% to finish at 4,576.73, while the Nasdaq Composite dropped 0.43% to end at 14,283.91. The Dow Jones Industrial Average added 71.15 points, or 0.2%, to settle at 35,630.68. Earlier in the session, the Dow touched its highest level since February 2022.

 

 

Company News & Broker Comments:

Company News:

BAE Systems has reported a record order backlog, sending its half-year profit and dividend for shareholders up by over 10% each.

 

 

Haleon on Wednesday raised its full-year guidance as it reported a better-than-expected 10.4% organic revenue growth for the first half of 2023 on pricing and positive volume mix.  The consumer-healthcare business–which was spun out of GSK and is partly owned by Pfizer–reported revenue for the six months ended June 30 of £5.74 billion ($7.33 billion), up from £5.19 billion a year prior. This was ahead of estimates taken from a company-compiled consensus which had the figure at £5.69 billion and had seen organic growth of 8.2% for the half-year.

 

 

Ryanair flew 18.7 million passengers in July, The total was up 11% from July 2022 and marked the first time the Irish carrier has flown 18 million passengers in a month. Its flights remained 96% full.

 

 

Shell PLC has awarded Wood Group (John) PLC with a three-year contract to continue providing engineering and management expertise for its projects.

 

 

Taylor Wimpey said revenue fell 21% to £1.64 billion from £2.08 billion the year before while pre-tax profit slumped 29% to £237.7 million from £334.5 million before.  House completions slipped to 5,120 homes from 6,922 last year while the net private sales rates of 0.71 in the period compared to 0.90 last year.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

BAE Systems

Direct Line Insurance Group

Endeavor Mining

Ferrexpo

Haleon

IP Group

Smurfit Kappa Group

Taylor Wimpey

 

 

 

US

 

The Kraft Heinz Co

Etsy

Lemonade

Occidental Petroleum

PayPal Holdings

Qualcomm Inc

Shopify

Unity Software

Reporting Tomorrow:

UK

 

Helios Towers

Hikma Pharmaceuticals

London Stock Exchange Group

Morgan Sindall

Next

Serco Group

Shaftesbury Group

Smith & Nephew

Wizz Air Holdings

 

 

US

 

Alibaba Group

Ball Corp

Fiverr International

Moderna

Airbnb

Amazon.com

Amgen

Apple Inc

Block

Coinbase Global

Gilead Sciences

 

 

In Focus Today:

US ADP Employment Change

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 3rd August 2023:

 

BT Group

Unilever

Lloyds Banking Group

Reckitt Benckiser Group

RELX

Rentokil Initial

 

 

UK 250 companies going ex-dividend on 3rd August 2023:

 

Oxford Instruments

Schroder Oriental Income Fund

Moneysupermarket.com Group

Games Workshop Group

Tyman

Rathbones Group

Aberforth Smaller Companies Trust

Jupiter Fund Management

Inchcape

Vesuvius

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