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Morning Report - 14 August 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Admiral Group PLC 2,757.0 2.2%
Persimmon PLC 1,610.0 2.1%
Sainsbury (J) PLC 274.2 1.7%
Severn Trent PLC 2,556.0 1.7%
United Utilities Group PLC 1,005.0 1.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Antofagasta PLC 1838.5 -2.2%
Marks And Spencer Group PLC 317.5 -1.8%
Glencore PLC 405.4 -1.2%
Pershing Square Holdings LTD 3500.0 -1.0%
Vodafone Group PLC 73.7 -0.9%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,235 0.3% 9.7%
DOW JONES INDUS. AVG 39,766 1.0% 12.6%
DAX INDEX 17,812 0.5% 12.0%
NIKKEI 225 36,442 0.6% 13.7%
S&P/ASX 200 INDEX 7,851 0.3% 7.9%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.88 0.68%
Brent Crude (ICE) USD/bbl. 81.19 0.62%
Gold Spot USD/t oz. 2,465 0.0%
Copper (Comex) USd/lb. 408 -0.1%
The UK 100 called to open +50 points at 8,285.

1 Day; 7 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +50 points at 8,285.  The UK 100 looks set to open higher this morning, despite inflation rising for the first time since December, and in doing so rise above the 2% target, the rise fell short of analysts expected 0.3% increase, rather increasing by just 0.2%, the office for national statistics (ONS) said that “the impact of falling energy prices fading” being th main reason for the rise.

Stocks rallied Tuesday, moving closer to last month’s record levels following the first of two key U.S. inflation reports this week.  The Dow Jones ended the day up 408 points, or 1.04%, at 39,765.64. The Nasdaq jumped 2.43% to close at 17,187.61, while the S&P 500 added 1.68% to 5,434.43. The broad market index is now roughly less than 5% from its record high from July.  The producer price index — a measure of wholesale prices — increased 0.1% last month in the US. Economists expected the reading to show a monthly gain of 0.2% in July, in line with the previous month’s reading, according to Dow Jones consensus estimates.

In Asia this morning the MSCI Asia Pacific Index climbed for a fourth session, with shares in New Zealand and Taiwan jumping around 1%. Japanese stocks fluctuated as the yen strengthened.

 

Company News & Broker Comments:

Company News:

 

AstraZeneca says Lynparza and Imfinzi combination has been approved in the EU for form of cancer.

 

Aviva posted a better than expected 14% rise in H1 operating profit to £875m, helped by a rise in general insurance premiums in Britain and Ireland. This was ahead of average analyst estimates of £830m. They raised their H1 2024 interim dividend by 7% to 11.9p per share.

 

Balfour Beatty report a H1 pretax profit of £112m, up from £82m YoY. They also raised their interim dividend by 9% to 3.8p per share.

 

Flutter raised their FY guidance after a much better than expected Q2 and said they have no plans “at this stage” to follow rival Draftkings in adding a surcharge to customers’ winnings in high-tax US states.

 

 

Broker Comments:

Investec Upgrades Domino’s Pizza to Buy from Hold (5 Buys / 2 Holds / 1 Sell)

Reporting Today:

UK

 

Aviva

Balfour Beatty

 

 

US

 

Cisco Systems

 

Reporting Tomorrow:

UK

 

Admiral Group

Diversified Energy Company

Empiric Student Property

OSB Group

 

 

US

 

Deere & Co

JD.com

Walmart

Applied Materials

 

 

In Focus Today:

UK Consumer Price Index

UK Producer Price Index

UK Retail Price Index

EU Employment Change

EU Gross Domestic Product

EU Industrial Production

US Consumer Price Index

Japanese Gross Domestic Product

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 15th August 2024:

 

Rio Tinto

Entain

Anglo American

Hikma Pharmaceuticals

Barclays

HSBC Holdings

GSK

Shell

Haleon

London Stock Exchange Group

Pershing Square Holdings

 

 

UK 250 companies going ex-dividend on 15th August 2024:

 

Chemring Group

ICG Enterprise Trust

Greencoat UK Wind

Murray Income Trust

Elementis

abrdn

Rotork

Target Healthcare REIT

Keller Group

Domino’s Pizza Group

Renewables Infrastructure Group

Hiscox

4imprint Group

Impax Environmental Markets

Balanced Commercial Property Trust

Lancashire Holdings

Tritax EuroBox GBP

NextEnergy Solar Fund

Harbour Energy

TI Fluid Systems

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