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Morning Report - 5 September 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Entain PLC 1,184.5 2.7%
Glencore PLC 434.1 1.6%
Pearson PLC 852.6 1.5%
Barclays PLC 150.9 1.3%
International Consolidated Airlines Group S.A. 161.3 1.2%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Admiral Group PLC 2,371.0 -2.4%
Johnson Matthey PLC 1,753.0 -2.1%
Haleon PLC 314.4 -1.7%
Endeavour Mining PLC 1,593.0 -1.7%
Hiscox LTD 992.5 -1.6%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,453 -0.2% 2.8%
DOW JONES INDUS. AVG 34,838 0.3% 11.2%
DAX INDEX 15,814 -0.2% 21.6%
NIKKEI 225 32,939 0.7% 19.3%
S&P/ASX 200 INDEX 7,319 0.6% 7.2%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 85.86 0.36%
Brent Crude (ICE) USD/bbl. 88.88 0.37%
Gold Spot USD/t oz. 1,938 -0.1%
Copper (Comex) USd/lb. 383 -0.6%
The UK 100 called to open -35 points at 7,417

4 hours; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -35 points at 7,417.   The UK 100 looks set to open lower this morning having given up early gains yesterday, data from China this morning showed a slowdown in growth in the service sector with the Caixin PMI falling to 51.8 in August from 54.1 in July, while the Australian central bank left Australian interest rates unchanged at 4.10% earlier this morning.

 

 

Company News & Broker Comments:

Company News:

 

Ashtead have lowered their annual UK rental revenue growth forecast to 6-9% from a previous outlook range of 10-13% due to softening market conditions. They kept the rest of their outlook unchanged after reporting an 11% climb in adjusted pretax profit to $615m in Q1 ended July 31st.

 

 

DS Smith report that their trading has been in line with annual expectations, helped by a recovery in industrial package volumes as customer de-stocking eased.

 

 

London Stock Exchange is planning to launch a new blockchain-based digital markets business.

 

 

PZ Cussons makes offer for minority-held shares in PZ Cussons Nigeria PLC for £22.8m.

 

Broker Comments:

Investec Downgrades Informa to Hold from Buy (7 Buys / 4 Holds / 0 Sells)

 

 

Investec Upgrades Relx to Buy from Hold (4 Buys / 5 Holds / 0 Sells)

 

 

JP Morgan Downgrades B&M to Underweight from Overweight (7 Buys / 8 Holds / 2 Sells)

 

 

JP Morgan Downgrades Tesco to Neutral from Overweight (6 Buys / 2 Holds / 0 Sells)

 

 

Morgan Stanley Downgrades Hiscox to Equal-weight from Overweight (2 Buys / 9 Holds / 0 Sells)

Reporting Today:

UK

 

Ashtead Group

DS Smith

 

 

 

US

 

Asana

Zscaler

Reporting Tomorrow:

UK

 

Ashmore Group

Barratt Developments

Darktrace

WH Smith

 

 

US

 

ChargePoint Holdings

GameStop

 

 

In Focus Today:

Chinese Caixin Services PMI

German HCOB Composite PMI

German HCOB Services PMI

EU HCOB Composite PMI

EU Producer Price Index

US Factory Orders

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 7th September 2023:

 

Smith (DS)

Admiral Group

Prudential

 

 

UK 250 companies going ex-dividend on 7th September 2023:

 

Harbour Energy

TBC Bank Group

CLS Holdings

Derwent London

BlackRock World Mining Trust

Empiric Student Property

Serco Group

Baltic Classifieds Group

Greggs

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