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Morning Report - 10 April 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Fresnillo PLC 578.0 4.0%
St. James’s Place PLC 441.0 3.0%
Antofagasta PLC 2,269.0 2.4%
Croda International PLC 4,700.0 2.2%
Halma PLC 2,294.0 2.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
Bae Systems PLC 1,277.0 -4.5%
Rolls-Royce Holdings PLC 412.2 -3.9%
Standard Chartered PLC 672.8 -3.8%
Melrose Industries PLC 649.4 -3.2%
Beazley PLC 654.5 -3.1%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,935 -0.1% 2.5%
DOW JONES INDUS. AVG 38,884 0.0% 16.1%
DAX INDEX 18,077 -1.3% 15.9%
NIKKEI 225 39,773 1.1% 43.9%
S&P/ASX 200 INDEX 7,824 0.5% 8.4%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 85.23 -1.39%
Brent Crude (ICE) USD/bbl. 89.58 -0.89%
Gold Spot USD/t oz. 2,353 0.6%
Copper (Comex) USd/lb. 429 0.2%
The UK 100 called to open +48 points at 7,980.

4 Hours; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +48 points at 7,980. UK 100 is set to open higher on Wednesday, ahead of the important inflation reading (CPI) from the US this afternoon at 1:30pm. US inflation is expected to show that the rate of YoY consumer price growth picked up to 3.4% last month, from 3.2% in February. Wall Street ended mixed as the Dow closed down slightly, S&P +0.1% and Nasdaq +0.3%. In Asia the Nikkei closed -0.3%, Shanghai -0.6% and Hong Kong +2%.

 

 

Company News & Broker Comments:

Company News:

Capita extends their contract with European Telecoms provider for two years, worth over £95m.

 

Direct Line Insurance Group appoints Jane Poole as their new CFO, replacing Neil Manser.

 

Johnson Matthey and BP technology have been chosen for Fischer Tropsch SAF production plant worth $4bn.

 

Tesco have forecast a further increase in profit in their new financial year as they reported an 11% rise for 2023/24 that reflected market share gains. They have forecast an adjusted retail operating profit of “at least” £2.8bn for its 2024/25 year. They have made £2.76bn in the year to Feb 24th 2024, slightly ahead of guidance of £2.75bn and up from £2.49bn made in the previous year.

 

Vistry Group are to deliver 1,000 homes in England following government agreement.

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Marshalls*

Tesco

 

US

 

Delta Air Lines

 

Reporting Tomorrow:

UK

 

EnQuest*

 

US

 

None

 

 

In Focus Today:

US Consumer Price Index

Fed’s Goolsbee speech

FOMC Minutes

US Monthly Budget Statement

 

 

Tomorrow’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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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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