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Morning Report - 6 October 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
Imperial Brands PLC 1,642.5 4.0%
Tesco PLC 280.4 3.6%
International Consolidated Airlines Group S.A. 154.7 2.3%
Admiral Group PLC 2,373.0 2.2%
British American Tobacco PLC 2,515.0 2.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
Jd Sports Fashion PLC 140.4 -2.7%
Anglo American PLC 2,113.5 -1.3%
Weir Group PLC 1,829.0 -0.8%
Smith & Nephew PLC 966.2 -0.7%
Airtel Africa PLC 119.6 -0.6%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,466 0.7% 5.7%
DOW JONES INDUS. AVG 32,998 -0.4% 9.1%
DAX INDEX 15,086 -0.1% 20.6%
NIKKEI 225 31,075 1.8% 13.8%
S&P/ASX 200 INDEX 6,925 0.5% 1.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 83.91 -0.37%
Brent Crude (ICE) USD/bbl. 85.33 -0.56%
Gold Spot USD/t oz. 1,818 -0.2%
Copper (Comex) USd/lb. 358 -0.3%
The UK 100 called to open +26 points at 7,477.

4 hours; 3 Months

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Markets Overview:

The UK 100 called to open +26 points at 7,477. The UK 100 is expected make a firm start to proceedings on Friday ahead of the US non-farm payrolls figures later in the session.  The US economy is expected to have added 170,000 jobs in September, down from last month’s figure of 187,000.  Stocks ticked lower Thursday as investors looked toward key jobs data on Friday that could determine the next move for interest rates.  The Dow Jones Industrial Average lost 9.98 points, or 0.03%, to close at 33,119.57. The S&P 500 dipped 0.13% at 4,258.19, and the Nasdaq Composite traded down 0.12% to end at 13,219.83.

 

 

Company News & Broker Comments:

Company News:

De La Rue plc today announced a trading update for the financial year ending 30 March 2024.  For H1 FY24, the Company expects adjusted operating profit to be marginally ahead of previous guidance.  Net debt is expected to be improved versus previous guidance, in the low £80m range.  For the full year FY24, the Board’s expectations for adjusted operating profit remain unchanged, reinforced by the half year position. Net debt for full year FY24 is now expected to be marginally better than previous guidance, in the mid £90m range.

 

 

GSK plc today announced that, further to its announcement on 5 October 2023, GSK has agreed to sell 270m ordinary shares in Haleon plc at a price of 328 pence per share, raising gross proceeds of approximately £885.6m.  Following settlement of the Placing, GSK will hold 685m ordinary shares in Haleon, representing approximately 7.4% of the issued share capital of Haleon.

 

 

Imperial Brands PLC has announced the appointment of Morgan Stanley (NYSE:MS) to source some £550 million worth of shares in the first tranche of its buyback scheme.

 

 

JD Wetherspoon The pub chain said in the 52 weeks to ended July revenue rose 10.6% to £1,925.0 million from £1,740.5 million the year before.  Like-for-like sales increased by 12.7% year-on-year.  Like-for-like bar sales increased by 9.0%, food sales by 17.7%, slot/fruit machine sales by 26.4% and hotel rooms by 11.8%.  The increase in sales helped the firm post a pre-tax profit of £42.6 million compared to a pre-tax loss of £30.4 million.

 

Broker Comments:

 No new Broker Comments

Reporting Today:

UK

 

Wetherspoon

 

 

 

US

 

None

Reporting Monday:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

EU leaders summit

German Factory Orders s.a.

US Nonfarm Payrolls

US Unemployment Rate

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 12th October 2023:

 

Howden Joinery Group

Taylor Wimpey

WPP

Spirax-Sarco Engineering

Kingfisher

Tesco

 

 

UK 250 companies going ex-dividend on 12th October 2023:

 

Senior

Persimmon

Breedon Group

Ruffer Investment Company

Balanced Commercial Property Trust

Primary Health Properties

Supermarket Income REIT

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