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Morning Report - 31 May 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Auto Trader Group PLC 837.4 14.6%
Frasers Group PLC 877.5 6.4%
Ocado Group PLC 379.8 5.5%
JD Sports Fashion PLC 133.1 5.1%
St. James’s Place PLC 503.5 3.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Sage Group PLC 1023.0 -3.5%
Coca-Cola Hbc AG 2652.0 -3.0%
Antofagasta PLC 2205.0 -2.9%
Severn Trent PLC 2347.0 -1.5%
Intertek Group PLC 4758.9 -1.5%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,231 0.6% 9.4%
DOW JONES INDUS. AVG 38,127 -0.8% 15.3%
DAX INDEX 18,497 0.1% 16.3%
NIKKEI 225 38,054 -1.3% 23.2%
S&P/ASX 200 INDEX 7,628 -0.5% 7.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.18 -1.33%
Brent Crude (ICE) USD/bbl. 82.49 -1.33%
Gold Spot USD/t oz. 2,346 0.3%
Copper (Comex) USd/lb. 466 -2.7%

 

The UK 100 called to open +10 points at 8,243

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +10 points at 8,243. UK 100 is set to open slightly higher on Friday as traders await the release of a key US inflation gauge (Core Personal Consumption Expenditures Index) at 1:30pm, which is the Fed’s preferred inflation indicator. Wall Street ended lower with the Dow closing -0.9%, S&P -0.7% and Nasdaq -1.1%. In Asia Tokyo closed +1%, Shanghai +0.1% and Hong Kong +0.7%.

 

 

Company News & Broker Comments:

Company News:

Anglo American is starting a formal process to sell its coal assets and explore options for its nickel based operations after fending off a takeover threat from bigger rival BHP Group.

 

JD Sports Fashion kept their profit guidance for the 2024/25 year, though they said the market was “volatile” with underlying sales down 0.7% in Q1. They state they’re on track to deliver profit guidance for the FY.

 

Virgin Money: The UK CMA is to investigate whether the buy of Virgin Money by Nationwide could lessen competition.

 

 

Broker Comments:

RBC Upgrades Centrica to Outperform from Sector Perform (3 Buys / 6 Holds / 0 Sells)

Reporting Today:

UK

 

AVI Global Trust PLC*

 

 

US

 

None

 

Reporting Monday:

UK

 

Sirius Real Estate Ltd

 

US

 

None

 

 

 

In Focus Today:

Chinese NBS Manufacturing PMI

Chinese NBS Non-Manufacturing PMI

German Retail Sales

EU Core Harmonized Index of Consumer Prices

US Core Personal Consumption Expenditures – Price Index

US Personal Income

US Personal Spending

Chicago Purchasing Managers’ Index

Fed’s Bostic speech

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 6th June 2024:

 

Vodafone Group

National Grid

Sainsbury (J)

WPP

Informa

 

 

UK 250 companies going ex-dividend on 6th June 2024:

 

Marshalls

Computacenter

Assura

IntegraFin Holdings

Energean

Johnson Matthey

AJ Bell

Capital Gearing Trust

Edinburgh Investment Trust

JLEN Environmental Assets Group

Pets At Home Group

Balanced Commercial Property Trust

 

 

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.


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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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