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Morning Report - 11 June 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
M&G PLC 202.7 2.2%
BP PLC 470.6 1.7%
Hargreaves Lansdown PLC 1,073.0 1.4%
Ashtead Group PLC 5,616.6 1.1%
Glencore PLC 474.6 1.0%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Rentokil Initial PLC 406.3 -3.6%
Diploma PLC 4104.0 -2.5%
Ocado Group PLC 353.2 -2.5%
Natwest Group PLC 309.0 -2.5%
Admiral Group PLC 2662.0 -2.5%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,228 -0.4% 8.7%
DOW JONES INDUS. AVG 38,698 -0.3% 14.3%
DAX INDEX 18,450 -0.6% 15.7%
NIKKEI 225 39,038 0.9% 21.0%
S&P/ASX 200 INDEX 7,860 0.5% 10.4%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 76.59 1.40%
Brent Crude (ICE) USD/bbl. 80.58 1.21%
Gold Spot USD/t oz. 2,305 0.5%
Copper (Comex) USd/lb. 452 0.7%
The UK 100 called to open +31 points at 8,259

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +31 points at 8,259.  The UK 100 looks set for a positive open this morning after political uncertainty in Europe weighed on the blue-chip index, however investors’ attention will likely now move to key economic data reads both at home and across the pond.  UK employment data out this morning showed Unemployment in the UK rose to 4.4% in the three months to April, in the latest sign that high interest rates are loosening the labour market.  It’s the highest unemployment rate since July 2021.  US stock markets reached new record high yesterday, but investors remained cautious ahead of key reports on consumer prices and the Federal Reserve’s policy announcement.

 

 

Company News & Broker Comments:

Company News:

FirstGroup reports a FY adjusted pretax profit of £136.8m as they state that their FY25 outlook remains in line with group’s expectations.

 

GSK and other drugmakers have asked a Delaware court for permission to appeal a ruling allowing more than 70,000 lawsuits claiming that heartburn drug Zantac causes cancer to go forward.

 

HSBC have boosted their headcount in China by more than 300 people as they completed the acquisition of Citigroup’s consumer wealth portfolio.

 

Senior wins a contracts worth $80m over 10 years with Collins Aerospace.

 

 

Broker Comments:

Morgan Stanley Downgrades Anglo American to Equal-Weight (3 Buys / 10 Holds / 0 Sells)

Reporting Today:

UK

 

FirstGroup

Oxford Instruments

 

 

US

 

GameStop

 

Reporting Tomorrow:

UK

 

Molten Ventures*

Safestore Holdings*

 

US

 

Broadcom

 

 

 

In Focus Today:

UK Average Earnings

UK Claimant Count

UK Employment Change

UK ILO Unemployment Rate

 

 

This 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

 

 

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