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Morning Report - 9 April 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Entain PLC 820.2 4.6%
Rio Tinto PLC 5,184.0 4.2%
Easyjet PLC 582.0 4.1%
Anglo American PLC 2,148.5 2.9%
Scottish Mortgage Investment Trust PLC 881.4 2.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Sage Group PLC 1,214.5 -2.6%
Flutter Entertainment PLC 15,500.0 -2.5%
Severn Trent PLC 2,381.0 -1.9%
Marks And Spencer Group PLC 256.9 -1.6%
Rightmove PLC 536.2 -1.6%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,943 0.4% 2.6%
DOW JONES INDUS. AVG 38,893 0.0% 16.2%
DAX INDEX 18,319 0.8% 17.5%
NIKKEI 225 39,347 0.9% 43.0%
S&P/ASX 200 INDEX 7,789 0.2% 7.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 86.57 -0.39%
Brent Crude (ICE) USD/bbl. 90.54 -0.69%
Gold Spot USD/t oz. 2,339 0.4%
Copper (Comex) USd/lb. 429 1.4%
The UK 100 called to open -6 points at 7,939.

4 Hours; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -6 points at 7,939.  UK 100 is set to open slightly lower on Tuesday, as investors tentatively await tomorrow’s US inflation print (CPI). In the US on Monday stocks stood still as investors awaited inflation figures on Wednesday that will likely dictate whether rate cuts in H1 2024 are feasible or not. The Dow and S&P closed down slightly, while the Nasdaq closed up slightly. In Asia overnight the Nikkei closed +0.9%, Shanghai -0.3% and Hong Kong +0.6%.

 

 

Company News & Broker Comments:

Company News:

Aviva’s acquisition of AIG’s UK protection business has been completed for £453m.

 

BP expects their Q1 upstream production to be higher QoQ, especially for oil production. They expect a “strong” Q1 gas marketing and trading result after “strong” Q4 2023.

 

HSBC agrees to sell its business in Argentina for $550m.

 

Imperial Brands expects their H1 profit to be higher on the back of strong tobacco pricing. They expect to meet their FY expectations of growing net revenue and delivering a step-up in adjusted operating profit growth.

 

Unite Group says 86% of their beds have been sold for the 2024/25 academic year in Q1, as they are confident on delivering rental growth of 6% for 2024/25 academic year. They are currently planning approvals for 1,450 new beds in London and Bristol.

 

Broker Comments:

Barclays Upgrades Halma to Overweight from Equal weight (2 Buys / 11 Holds / 1 Sell)

Reporting Today:

UK

 

Imperial Brands

JTC

 

US

 

None

 

Reporting Tomorrow:

UK

 

Marshalls*

Tesco

 

US

 

Delta Air Lines

 

 

In Focus Today:

ECB Bank Lending Survey

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 11th April 2024:

 

Phoenix Group Holdings

Aviva

Lloyds Banking Group

Smurfit Kappa Group

Reckitt Benckiser Group

Howden Joinery Group

Barratt Developments

F&C Investment Trust

 

 

UK 250 companies going ex-dividend on 11th April 2024:

 

 

TP ICAP Group

ITV

Harbour Energy

International Public Partnerships

Man Group

Grafton Group

Supermarket Income REIT

Savills

Mercantile Investment Trust

Just Group

Hunting

Balanced Commercial Property Trust

Softcat

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