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Morning Report - 8 January 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
WPP PLC 770.2 3.8%
Centrica PLC 151.7 3.0%
Burberry Group PLC 1,378.0 1.4%
Experian PLC 3,092.0 1.3%
Convatec Group PLC 244.8 0.9%
Yesterday’s UK 100 Laggards Price (p) % Chg
Endeavour Mining PLC 1,577.0 -6.9%
IMI PLC 1,556.0 -3.5%
RS Group PLC 796.4 -3.3%
Ashtead Group PLC 5,098.0 -2.8%
Mondi PLC 1,499.5 -2.5%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,690 -0.4% -0.1%
DOW JONES INDUS. AVG 37,466 0.1% 11.4%
DAX INDEX 16,594 -0.1% 13.6%
NIKKEI 225 33,377 0.3% 28.5%
S&P/ASX 200 INDEX 7,452 -0.5% 4.8%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 72.80 -1.37%
Brent Crude (ICE) USD/bbl. 77.77 -1.26%
Gold Spot USD/t oz. 2,031 -0.7%
Copper (Comex) USd/lb. 381 0.1%
The UK 100 called to open -30 points at 7,659

4 hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -30 points at 7,659.  The UK 100 looks set to open lower this morning to kick off the week on the back foot, this comes after a mixed session on Wall Street Friday, the S&P ended modestly higher, but all three of the major averages snapped a nine-week winning streak following a stronger-than-expected jobs report.  The broader index rose 0.18% to end at 4,697.24, while the Nasdaq added 0.09% to finish at 14,524.07. The Dow Jones ticked higher by 25.77 points, or 0.07%, settling at 37,466.11.

 

 

Company News & Broker Comments:

Company News:

Airliners: The US aviation regulator has said 171 Boeing 737 Max 9 planes will remain grounded until it is satisfied the planes are safe after part of an Alaska Airlines plane fuselage fell off on Friday.

 

 

Plus500 says 2023 revenue and EBITDA is “significantly ahead” of market expectations.

 

 

Shell sees their quarterly integrated gas production being 800-920 kboe/d. Their quarterly integrated gas trading and optimisation is expected to be significantly higher than Q3 2023 due to seasonality and increased optimisation opportunities.

 

 

Broker Comments:

Barclays Downgrades Barratt Developments to Equal Weight from Overweight (5 Buys / 9 Holds / 0 Sells)

 

Barclays Downgrades Berkeley Group to Equal Weight from Overweight (5 Buys / 6 Holds / 2 Sells)

 

Barclays Upgrades Bellway to Overweight from Equal Weight (10 Buys / 4 Holds / 0 Sells)

 

Barclays Upgrades Crest Nicholson Holdings to Overweight from Equal Weight (4 Buys / 4 Holds / 0 Sells)

 

Berenberg Upgrades Legal & General to Buy from Hold (3 Buys / 6 Holds / 0 Sells)

Reporting Today:

UK

 

None

 

 

US

 

None

Reporting Tomorrow:

UK

 

B&M European Value Retail

Games Workshop Group

 

US

 

None

 

 

In Focus Today:

German Factory Orders

German Trade Balance

EU Sentix Investor Confidence

EU Retail Sales

EU Economic Sentiment Indicator

EU Consumer Confidence

EU Business Climate

EU Retail Sales

Tokyo Consumer Price Index

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 11th January 2023:

 

SSE

Sage Group

Ashtead Group

 

 

UK 250 companies going ex-dividend on 11th January 2023:

 

 

WH Smith

Foresight Group Holdings

AJ Bell

Balanced Commercial Property Trust

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