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Morning Report - 7 June 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Antofagasta PLC 2,214.0 2.9%
Sage Group PLC 1,063.5 2.4%
Diageo PLC 2,712.5 2.1%
Natwest Group PLC 318.8 2.1%
St. James’s Place PLC 530.0 1.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Vodafone Group PLC 72.2 -5.8%
National Grid PLC 865.6 -4.0%
WPP PLC 778.8 -3.5%
Easyjet PLC 473.2 -2.9%
Sainsbury (J) PLC 267.6 -2.3%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,285 0.5% 8.6%
DOW JONES INDUS. AVG 38,830 0.1% 15.6%
DAX INDEX 18,653 0.4% 16.6%
NIKKEI 225 38,704 0.6% 21.3%
S&P/ASX 200 INDEX 7,822 0.7% 9.9%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 75.46 1.88%
Brent Crude (ICE) USD/bbl. 79.84 1.82%
Gold Spot USD/t oz. 2,373 0.8%
Copper (Comex) USd/lb. 468 1.6%

 

The UK 100 called to open +13 points at 8,298

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +13 points at 8,298.  The UK 100 looks set to open higher this morning.  The recent uptrend in US stock and bond markets halted on Thursday as investors awaited economic health data.  Asian stocks however fared better this morning following yesterday’s European Central Bank’s interest rate cut and a tick up in oil prices after comments from OPEC+ members Saudi Arabia and Russia indicating a potential pause or reversal in output agreements.  Focus today will turn in the afternoon to the US non-farm payrolls report for May. The forecast predicts an addition of 185,000 jobs, just above April’s figure of 175,000. The annual wage growth rate is expected to hold steady at 3.9%.

 

 

Company News & Broker Comments:

Company News:

Bellway have raised their annual average selling price forecast and pointed to strong trading in the Spring selling season as improved affordability lifted customer confidence. Their private reservation rate rose 6.9% YoY to 0.62 units during the Feb 1st – June 2nd period.

 

Diversified Energy Company acquires interest in assets from Oaktree Capital for $337m net price as they increase their credit facility by 26% adding $80m.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Worldwide Healthcare Trust

 

 

US

 

None

 

Reporting Monday:

UK

 

None

 

US

 

None

 

 

 

In Focus Today:

European Parliament Election

Chinese Exports

Chinese Imports

Chinese Trade Balance

German Industrial Production

German Trade Balance

EU Employment Change

EU Gross Domestic Product

US Nonfarm Payrolls

US Unemplyment Rate

US Average Earnings

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 13th June 2024:

 

Intermediate Capital Group

RS Group

Land Securities Group

Compass Group

JD Sports Fashion

Scottish Mortgage Investment Trust

 

 

UK 250 companies going ex-dividend on 13th June 2024:

 

TBC Bank Group

3i Infrastructure

Empiric Student Property

Hollywood Bowl Group

LondonMetric Property

Worldwide Healthcare Trust

SDCL Energy Efficiency Income 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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