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Morning Report - 16 February 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Croda International PLC 5,062.0 4.1%
Kingfisher PLC 225.1 3.0%
Natwest Group PLC 215.1 2.9%
Coca-Cola Hbc AG 2,450.0 2.9%
Fresnillo PLC 479.1 2.7%
Yesterday’s UK 100 Laggards Price (p) % Chg
Imperial Brands PLC 1,835.5 -3.0%
BP PLC 467.9 -1.8%
Shell PLC 2,460.5 -1.5%
Marks And Spencer Group PLC 232.4 -1.1%
Pershing Square Holdings LTD 3,863.7 -0.8%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,598 0.4% -5.2%
DOW JONES INDUS. AVG 38,773 0.9% 15.1%
DAX INDEX 17,047 0.6% 9.7%
NIKKEI 225 38,487 0.9% 39.0%
S&P/ASX 200 INDEX 7,658 0.7% 3.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.03 0.00%
Brent Crude (ICE) USD/bbl. 82.68 -0.22%
Gold Spot USD/t oz. 2,006 0.1%
Copper (Comex) USd/lb. 378 0.6%
The UK 100 called to open +42 points at 7,639

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +42 points at 7,639.  The UK 100 looks set to open higher this morning as retail sales data this morning showed the largest monthly rise since April 2021.  Stateside yesterday saw the S&P close at a new record high, as all three major indexes ended Thursday’s trading session in positive territory, after clawing back the losses suffered earlier in the week. This marks the 11th record high that the 500-stock benchmark has seen so far this year.  The broad stock index climbed 0.58%, settling at 5,029.73, while the Nasdaq added 0.30% to close at 15,906.17. The Dow Jones traded 348.85 points higher, or 0.91%, to end at 38,773.12.

 

 

 

Company News & Broker Comments:

Company News:

NatWest have confirmed Paul Thwaite as their permanent CEO as they reported better-than-expected profit for 2023, as they gear up for a crunch sale of state-owned stock in the company to the public after a scandal-hit year. They reported a pretax profit of £6.2bn, up from the £5.1bn the prior year and ahead of the £5.95bn average of analyst forecasts complied by the bank. They have also confirmed a final dividend of 11.5p per share and a share buyback of £300m.

 

Ryanair says Milan court of appeal dismisses claims by Italian OTA pirates.

 

Segro posted a better-than-expected increase in its annual profit, supported by robust rental growth even as the value of its properties declined amid elevated interest rates. Their adjusted pretax profit rose 6% to £409m in the year ended Dec 31st, compared with analyst average expectations of £387.7m.

 

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Bank of Georgia*

Natwest Group

Segro

TBC Bank Group

 

US

 

None

 

Reporting Monday:

UK

 

Moneysupermarket.com

 

US

 

None

 

 

In Focus Today:

UK Retail Sales

US Building Permits

US Housing Starts

US Producer Price Index

US Michigan Consumer Sentiment Index

UoM 5-year Consumer Inflation Expectation

Fed Monetary Policy Report

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 22nd February 2024:

 

Endeavour Mining

AstraZeneca

Land Securities Group

GSK

Unilever

 

 

UK 250 companies going ex-dividend on 22nd February 2024:

 

 

BBGI Global Infrastructure S.A.

Tritax EuroBox GBP

BlackRock Throgmorton Trust

Virgin Money UK

easyJet

Redrow

Witan Investment Trust

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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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