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Morning Report - 3 July 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
3I Group PLC 3,054.0 2.3%
Croda International PLC 3,952.6 1.4%
Experian PLC 3,693.4 1.3%
National Grid PLC 896.2 1.2%
BP PLC 484.3 1.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
Beazley PLC 653.3 -4.8%
Sainsbury (J) PLC 246.7 -4.3%
Bt Group PLC 136.5 -3.4%
Standard Chartered PLC 715.8 -2.2%
Frasers Group PLC 857.0 -2.1%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,121 -0.6% 7.8%
DOW JONES INDUS. AVG 39,269 0.3% 13.7%
DAX INDEX 18,164 -0.7% 12.5%
NIKKEI 225 40,075 1.1% 18.7%
S&P/ASX 200 INDEX 7,718 -0.4% 6.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 82.94 -0.53%
Brent Crude (ICE) USD/bbl. 86.36 -0.28%
Gold Spot USD/t oz. 2,327 -0.2%
Copper (Comex) USd/lb. 443 0.2%
The UK 100 called to open +56 points at 8,177

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +56 points at 8,177.  The UK 100 looks set to open higher this morning, this comes after Jerome Powell last night said that the US is on a “disinflationary path”, comments which have strengthened hopes a more imminent interest cut in the US, but reiterated that the central bank was not quite ready to cut rates. On Wall Street, the S&P gained 0.62%, ending at 5,509.01 and marking its first close above the 5,500 threshold. The Nasdaq jumped 0.84% to settle at 18,028.76. Both indexes closed at record highs, buoyed by a 10% jump in Tesla. The Dow added 162.33 points, or 0.41%, closing at 39,331.85.

 

 

Company News & Broker Comments:

Company News:

GSK and CureVac restructure their collaboration started in 2020 in a new licensing agreement. GSK gets full rights to develop, make and commercialise MRNA flu and Covid vaccines. The new deal gives CureVac 400m euros upfront plus up to 1.05bn euros in milestone payments.

 

Johnson Matthey are to start a share buyback programme for up to £250m.

 

Vodafone, Virgin Media O2 announce a new long-term network sharing agreement. This will provide a stable basis for MergeCo’s (The merger of Vodafone UK and Three UK) enlarged network.

 

 

Broker Comments:

Barclays Downgrades JD Sports Fashion to Underweight (7 Buys / 4 Holds / 0 Sells)

 

CitiGroup Upgrades Diageo to Buy (6 Buys / 9 Holds / 3 Sells)

 

Morgan Stanley Downgrades 3i Group to Equal-weight (3 Buys / 2 Holds / 0 Sells)

Reporting Today:

UK

 

Baltic Classified Group PLC

TwentyFour Income Fund Ltd*

 

US

 

Constellation Brands

 

Reporting Tomorrow:

UK

 

3i Infastructure Ltd

Victrex PLC

 

US

 

None

 

 

 

In Focus Today:

Chinese Caixin Services PMI

German HCOB Composite PMI

German HCOB Services PMI

ECB’s De Guindos speech

EU HCOB Composite PMI

ECB’s Cipollone speech

EU Producer Price Index

ECB’s Lane speech

Fed’s Williams speech

US ADP Employment Change

US Initial Jobless Claims

US S&P Global Composite PMI

Fed’s Bostic speech

US ISM Services PMI

ECB’s President Lagarde speech

FOMC Minutes

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 4th July 2024:

 

Next

 

 

UK 250 companies going ex-dividend on 4th July 2024:

 

Murray International Trust

ICG Enterprise Trust

Bank of Georgia Group

Big Yellow Group

Paragon Banking Group

Workspace Group

Safestore Holdings

 

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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