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Morning Report - 20 March 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Unilever PLC 3,927.0 3.0%
Rolls-Royce Holdings PLC 399.0 2.3%
International Consolidated Airlines Group S.A. 159.6 2.0%
Bae Systems PLC 1,328.0 1.8%
Ashtead Group PLC 5,290.0 1.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Reckitt Benckiser Group PLC 4,397.0 -3.9%
Fresnillo PLC 443.4 -3.9%
Airtel Africa PLC 91.4 -3.2%
Burberry Group PLC 1,230.0 -2.1%
Persimmon PLC 1,267.3 -1.7%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,738 0.2% 5.5%
DOW JONES INDUS. AVG 39,111 0.8% 22.8%
DAX INDEX 17,987 0.3% 21.8%
NIKKEI 225 40,004 0.7% 48.5%
S&P/ASX 200 INDEX 7,703 0.4% 11.7%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 83.47 0.91%
Brent Crude (ICE) USD/bbl. 87.25 0.41%
Gold Spot USD/t oz. 2,158 -0.1%
Copper (Comex) USd/lb. 407 -1.3%
The UK 100 called to open +2 points at 7,740

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +2 points at 7,740. UK 100 is set to open higher on Wednesday as UK inflation data (CPI) fell to 3.4% in February to its lowest level for two and a half years. Traders are now focusing on the latest US Federal Reserve interest rate decision which is due at 6pm this evening, where rates are expected to be held at 5.5%. Wall Street ended higher on Tuesday with the Dow closing +0.8, S&P +0.6% and Nasdaq +0.4%. In Asia the Shanghai closed +0.4% and Hong Kong +0.3%. This was as China’s central bank left key interest rate unchanged at its March meeting, as expected.

 

 

Company News & Broker Comments:

Company News:

Computacenter expects their FY pretax profit to be £272.1m as they expect growth in 2024 to be weighted to H2.

 

Investec expects their FY24 adjusted operating pretax profit to be between £866.9-909.6m. They state that their revenue growth is due to balance sheet growth and incremental growth strategies.

 

Johnson & Matthey will sell their medical device components business to Montagu Private Equity for $700m in cash.

 

Prudential reported an 8% rise in its annual operating profit, as upbeat policy sales across its key markets in Asia and Africa propelled the insurer’s revenue growth. They posted an annual adjusted operating profit of $2.89bn, up from $2.72bn last year. It was slightly ahead of LSEG estimate of $2.85bn.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Computacenter

FDM Group Holdings

Prudential

 

US

 

Micron Technology

 

Reporting Tomorrow:

UK

 

Centamin

Direct Line Insurance Group

Dowlais Group

Energean

Ithaca Energy

M&G

Next

 

US

 

Accenture

Signet Jewelers

FedEx

Nike

 

 

In Focus Today:

PBoC Interest Rate Decision

German Producer Price Index

UK PPI Core Output

UK Consumer Price Index

UK Producer Price Index

UK Consumer Price Index

UK Retail Price Index

EU Consumer Confidence

US Fed Monetary Policy Statement

FOMC Economic Projections

US Interest Rate Projections

Fed Interest Rate Decision

FOMC Press Conference

Japanese Merchandise Trade Balance Total

Japanese Imports

Japanese Exports

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 21st March 2024:

 

Schroders

British American Tobacco

Beazley

Hikma Pharmaceuticals

Pearson

 

 

UK 250 companies going ex-dividend on 21st March 2024:

 

 

Crest Nicholson Holdings

BlackRock World Mining Trust

Chemring Group

HgCapital Trust

abrdn Private Equity Opportunities Trust

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