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Morning Report - 28 March 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Smith (Ds) PLC 394.9 9.8%
Diploma PLC 3,756.0 9.6%
Sainsbury (J) PLC 271.4 3.4%
SSE PLC 1,659.1 2.9%
International Consolidated Airlines Group S.A. 170.6 2.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Flutter Entertainment PLC 15,585.0 -8.8%
St. James’s Place PLC 451.3 -2.6%
Spirax-Sarco Engineering PLC 10,045.0 -2.6%
Smiths Group PLC 1,649.0 -2.4%
Standard Chartered PLC 678.6 -2.4%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,932 0.0% 6.0%
DOW JONES INDUS. AVG 39,760 1.2% 22.7%
DAX INDEX 18,477 0.5% 22.0%
NIKKEI 225 40,168 -1.5% 46.0%
S&P/ASX 200 INDEX 7,897 1.0% 12.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 81.75 0.49%
Brent Crude (ICE) USD/bbl. 86.48 0.45%
Gold Spot USD/t oz. 2,194 0.0%
Copper (Comex) USd/lb. 401 0.2%
The UK 100 called to open +28 points at 7,959

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +28 points at 7,959.  The UK 100 looks set to open the last trading session before the Easter bank holiday break on the front foot, this comes on the back of a strong showing on Wall Street last night.  The S&P closed at a record as the index heads for its best first quarter since 2019.  The broader market index gained 0.86% to close at 5,248.49, while the Dow Jones advanced 477.75 points, or 1.22%, to end at 39,760.08. Both indexes snapped three-day losing streaks. The Nasdaq rose 0.51%, closing at 16,399.52.  In focus today will be US GDP data out at 12.30GMT.

 

 

Company News & Broker Comments:

Company News:

AO World expect their FY24 revenue to be around £1.04bn as they returned to revenue growth in Q4 as expected. They expect their FY24 adjusted pretax profit to be at the top of guidance of £28-33m.

 

JD Sports Fashion report that trading conditions remained challenging and have reported that Like-for-Like sales in Q4 rose 0.1%. They also state that trading in the new financial year-to-date is in line with expectations.

 

Smith & Nephew announce John Rogers a their new CFO effective from 1st April.

 

Spirent Communications agrees to a £1.16bn takeover from Keysight Technologies.

 

Broker Comments:

Exane BNP Downgrades Aviva to Underperform (6 Buys / 5 Holds / 0 Sells)

 

Exane BNP Downgrades Legal & General to Neutral from Outperform (4 Buys / 5 Holds / 0 Sells)

 

RPT/Jefferies Downgrades Diploma to Hold from Buy (7 Buys / 2 Holds / 0 Sells

Reporting Today:

UK

 

International Public Partnership

Capricorn Energy

 

US

 

None

 

Reporting Tomorrow:

UK

 

None

 

US

 

None

 

 

In Focus Today:

US Gross Domestic Product

US Initial Unemployment Claims

US Pending Home Sales

 

 

Today’s Ex-Dividends:

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

 

M&G

Taylor Wimpey

Smith & Nephew

Prudential

Melrose Industries

 

 

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

 

 

Ithaca Energy

Moneysupermarket.com Group

Primary Health Properties

Fidelity European Trust

Travis Perkins

Volution Group

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