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Morning Report - 16 August 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Admiral Group PLC 3,022.0 7.5%
Standard Chartered PLC 758.0 3.3%
Pershing Square Holdings LTD 3,646.0 3.2%
Intermediate Capital Group PLC 2,126.6 2.8%
Barclays PLC 227.7 2.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Rio Tinto PLC 4753.0 -2.1%
Hikma Pharmaceuticals PLC 2060.0 -1.3%
Airtel Africa PLC 111.0 -1.0%
Barratt Developments PLC 544.9 -0.8%
Bt Group PLC 145.6 -0.7%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,344 0.8% 13.1%
DOW JONES INDUS. AVG 40,458 1.1% 15.5%
DAX INDEX 18,179 1.6% 15.3%
NIKKEI 225 36,727 0.8% 15.6%
S&P/ASX 200 INDEX 7,866 0.2% 9.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.26 1.66%
Brent Crude (ICE) USD/bbl. 81.12 1.71%
Gold Spot USD/t oz. 2,456 0.4%
Copper (Comex) USd/lb. 418 2.6%
The UK 100 called to open +2 points at 8,349. 

1 Day; 7 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +2 points at 8,349.   The UK 100 looks set to open marginally higher this morning, having continued to gain momentum during a strong showing yesterday.  Retail sales volumes climbed as expected by 0.5% in July, following a 0.9% drop a month earlier, the Office for National Statistics reported on Friday.

Stocks rallied on Thursday as investors regained confidence in the economy following encouraging consumer and labour data that helped ease recession worries.  The Dow Jones gained 554 points, or 1.39%, to end the day at 40,563.06. The S&P closed 1.61% higher at 5,543.22, for its sixth straight gain. The broad market index has advanced roughly 8% from its intraday bottom on Aug. 5. The tech heavy Nasdaq jumped 2.34% to 17,594.50.

Almost all major stock benchmarks gained in Asia, with a regional gauge on track for its best weekly performance in more than a year. Japanese shares were among the top performers as a weak yen boosted exporters’ earnings.

 

Company News & Broker Comments:

Company News:

 

AstraZeneca says Imfinzi has been approved in the US for resectable lung cancer.

 

GSK have welcomed a court ruling in Florida state that found in the drug makers favour regarding its Zantac case.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Bank of Georgia Group*

Pershing Square Holdings*

Temple Bar Investment Trust*

 

 

US

 

None

 

Reporting Tomorrow:

UK

 

None

 

 

US

 

The Estee Lauder Companies

Palo Alto Networks

 

 

In Focus Today:

UK Retail Sales

Fed’s Goolsbee speech

US Building Permits

US Housing Starts

Michigan Consumer Sentiment Index

UoM 5-year Consumer Inflation Expectation

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 22nd August 2024:

 

Legal & General Group

Schroders

Land Securities Group

Mondi

Imperial Brands

ConvaTec Group

 

 

UK 250 companies going ex-dividend on 22nd August 2024:

 

Investec

International Distribution Services

XPS Pensions Group

Personal Assets Trust

Hammerson

Babcock International Group

St. James’s Place

Shaftesbury Capital

Tritax Big Box REIT

Ibstock

Just Group

Witan Investment Trust

Temple Bar Investment Trust

OSB Group

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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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