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Morning Report - 7 July 2023

Yesterday’s UK 100 Leaders Price (p) % Chg
United Utilities Group PLC 947.8 1.6%
Sage Group PLC 909.2 0.1%
Severn Trent PLC 2,451.0 0.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
Glencore PLC 432.8 -5.5%
Next PLC 6,582.0 -5.4%
Antofagasta PLC 1,391.5 -5.3%
Flutter Entertainment PLC 14,520.0 -5.3%
Jd Sports Fashion PLC 138.0 -5.0%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,281 -2.2% 1.3%
DOW JONES INDUS. AVG 33,922 -1.1% 8.1%
DAX INDEX 15,529 -2.6% 20.9%
NIKKEI 225 32,388 -1.2% 22.3%
S&P/ASX 200 INDEX 7,042 -1.7% 5.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 72.12 0.45%
Brent Crude (ICE) USD/bbl. 76.85 0.43%
Gold Spot USD/t oz. 1,915 0.2%
Copper (Comex) USd/lb. 375 0.3%
The UK 100 called to open -7 points at 7273.

4 hours; 5 Months

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Markets Overview:

The UK 100 called to open -7 points at 7273. The UK 100 looks set to start the last trading day of the week broadly unchanged ahead of US non-farm payrolls figures later today.  Global markets ended lower after a strong ADP jobs report which showed US private sector employment grew by almost half a million jobs, The figures came on the back of ‘hawkish’ minutes from the latest FOMC meeting.  The Dow dropped 366 points, or 1.1%, after falling nearly 500 points earlier in the trading session. The S&P 500 fell 0.8% and the Nasdaq Composite slid 0.9%.

 

 

Company News & Broker Comments:

Company News:

Coca-Cola HBC says they are upgrading their 2023 earnings expectations after good performance in June. They now expect their 2023 organic EBIT growth of 9-12%, upped from 3% previously.

 

 

JD Sports intends to acquire the remaining 49.98% of shares in Iberian Sports Retail Group.

 

 

Shell expects Integrated Gas Q2 production of 950,000-990,000 boe/d. They expect for Q2 between $300m adjusted loss and $300m adjusted earnings.

 

 

Broker Comments:

HSBC Upgrades ConvaTec to Hold (9 Buys / 4 Holds / 1 Sell)

Reporting Today:

UK

 

None

 

 

US

 

None

Reporting Monday:

UK

 

Vistry Group Plc

 

 

US

 

None

 

 

 

In Focus Today:

EcoFin Meeting

 

Michigan Consumer Sentiment Index

 

UoM 5-year Consumer Inflation Expectation

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 13th July 2023:

 

British American Tobacco

 

Halma

 

 

UK 250 companies going ex-dividend on 13th July 2023:

 

Sirius Real Estate

 

CMC Markets

 

Firstgroup

 

Oxford Instruments

 

WH Smith

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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.


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