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Morning Report - 2 October 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
JD Sports Fashion PLC 149.7 4.8%
Severn Trent PLC 2,365.0 4.4%
Croda International PLC 4,915.0 4.3%
United Utilities Group PLC 948.2 4.1%
Ocado Group PLC 600.4 3.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
Hargreaves Lansdown PLC 773.2 -2.1%
Shell PLC 2,606.0 -2.1%
BAE Systems PLC 997.8 -2.0%
BP PLC 531.4 -1.8%
Flutter Entertainment PLC 13,390.0 -1.2%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,608 0.1% 10.4%
DOW JONES INDUS. AVG 33,508 -0.5% 16.7%
DAX INDEX 15,387 0.4% 27.0%
NIKKEI 225 31,858 -0.1% 22.8%
S&P/ASX 200 INDEX 7,049 0.3% 8.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 90.79 -1.00%
Brent Crude (ICE) USD/bbl. 92.20 -0.97%
Gold Spot USD/t oz. 1,849 -0.9%
Copper (Comex) USd/lb. 374 0.8%
The UK 100 called to open +5 points at 7,613.

4 hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +5 points at 7,613.   The UK 100 looks set to open the week higher, following welcome news that a US government shutdown was averted over the weekend.  In China, business activity rose marginally in September, according to the latest survey data from Caixin. The composite purchasing managers’ index, which measures the manufacturing and services sectors, eased to 50.9 points in September from 51.7 the month before. The services PMI fell to 50.2 from 51.8, while manufacturing fell to 50.6 from 51.0.  The Dow Jones lost 158.84 points, or 0.47% to finish at 33,507.50, led down by Travelers Companies. The S&P 500 dropped 0.27% to 4,288.05. The Nasdaq traded up 0.14% to 13,219.32, however, Futures tied to the Dow Jones Industrial Average have risen 144 points, or 0.42%. S&P 500 futures have gained 0.45%, while Nasdaq futures have added 0.65% this morning.

 

 

Company News & Broker Comments:

Company News:

 

Entain, the global sports betting, gaming and interactive entertainment group, this morning announced the completion of its acquisition of Angstrom Sports, a specialist provider of next generation sports modelling, forecasting and data analytics.

 

 

Melrose this morning confirmed the commencement of £500 share buyback programme, as part of its 2023 interim results announcement on 7 September 2023, the Company announced it was commencing early its share buyback programme at the beginning of October 2023, starting with a £500 million on-market buyback, to be conducted over 12 months

 

 

Pennon Group PLC reported trading is in line with expectations as it unveiled a £2.8 billion investment package between 2025-20230 at South West Water.  Updating investors on trading for the six months ended September 30, Pennon said it was on track to deliver significant environmental investment plan with capex of over £400 million for 2023/24 and well positioned to continue to deliver a cumulative doubling of return on regulated equity base returns to 2023/24.

 

 

Peel Hunt, a leading UK investment bank, today issues a trading update in respect of the six-month period ended 30 September 2023.  Saying, “Throughout the first half we have continued to support our clients in navigating the prolonged period of adverse market conditions that has persisted since the end of 2021. In line with market expectations, Group revenue for the period is expected to be approximately £42.4m, an increase of approximately 3.2% year on year.”

 

 

United Utilities this morning said trading is in line with the group’s expectations for the year ending 31 March 2024, and we reiterate technical guidance for underlying performance provided at our full year results on 25 May 2023.

 

 

Yellow Cake, a specialist company operating in the uranium sector holding physical uranium for the long term, has announced that, on 30 September 2023, it took delivery of 1,350,000 lb of U3O8 from Kazatomprom at the Cameco storage facility in Canada.

 

Broker Comments:

 No New broker comments

Reporting Today:

UK

 

Pennon Group

 

 

 

US

 

None

Reporting Tomorrow:

UK

 

Greggs

 

 

US

 

None

 

 

In Focus Today:

Chinese Caixin Manufacturing PMI

Chinese Caixin Services PMI

Japanese Tankan Large Manufacturing Index

German HCOB Manufacturing PMI

EU Unemployment Rate

US ISM Manufacturing PMI

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 5th October 2023:

 

Smith & Nephew

Weir Group

Centrica

F&C Investment Trust

 

 

UK 250 companies going ex-dividend on 5th October 2023:

 

Hays

Bank of Georgia Group

Morgan Sindall Group

Travis Perkins

Merchants Trust

Hunting

Finsbury Growth & Income Trust

Bodycote

JPMorgan Emerging Markets Invest Trust

Murray International Trust

RIT Capital Partners

Spectris

Barr (A.G.)

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