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Morning Report - 30 August 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Spirax Group PLC 7,700.0 3.9%
Whitbread PLC 2,937.0 3.7%
Bunzl PLC 3,556.0 2.7%
Pershing Square Holdings LTD 3,748.0 2.6%
Convatec Group PLC 238.4 2.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Londonmetric Property PLC 198.9 -3.5%
Segro PLC 860.2 -1.9%
Unite Group PLC 945.0 -1.9%
Land Securities Group PLC 617.0 -1.4%
Reckitt Benckiser Group PLC 4339.0 -1.4%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,380 0.4% 12.1%
DOW JONES INDUS. AVG 41,335 0.6% 18.5%
DAX INDEX 18,913 0.7% 19.0%
NIKKEI 225 38,648 0.7% 19.5%
S&P/ASX 200 INDEX 8,092 0.6% 10.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 76.17 0.34%
Brent Crude (ICE) USD/bbl. 80.32 0.48%
Gold Spot USD/t oz. 2,522 0.0%
Copper (Comex) USd/lb. 424 0.4%
The UK 100 called to open +32 points at 8,411.

2 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +32 points at 8,411. The UK 100 looks set to open above 8400 today following on from yesterdays gains.

The Dow Jones climbed to a record Thursday, as Wall Street tried to resume its comeback from a steep sell-off earlier this month. The 30-stock index rose 243.63 points, or 0.59%, for a fresh record close of 41,335.05. Gains in Goldman Sachs, Intel and Visa helped lift the blue-chip average to a new high. The S&P ended the session just below the flatline at 5,591.96. The Nasdaq slid 0.23% to end at 17,516.43.

Asian markets mostly rose this morning, buoyed by positive economic data and optimism about tech companies. Japan’s Nikkei 225 and Hong Kong’s Hang Seng led gains.

 

Company News & Broker Comments:

Company News:

 

Barclays PLC announced that it has purchased for cancellation of 5,822,240 of its ordinary shares at an average price of 226.7169 pence each on the London Stock Exchange from Citigroup Global Markets Limited as part of its buy-back announced on 5 August 2024.

 

 

Broker Comments:

Royal Bank of Canada raises Bunzl to sector perform from underperform (5 Buy, 6 Hold, 6 Sell)

 

JPMorgan cuts Reckitt Benckiser to neutral from overweight (10 Buy, 6 Hold, 0 Sell)

 

Bernstein raises Whitbread to outperform from market-perform (14 Buy, 3 Hold, 1 Sell)

 

Jefferies raises Centrica to buy from hold (11 Buy, 4 Hold, 0 Sell)

 

Royal Bank of Canada raises Close Brothers to outperform from sector perform (4 Buy, 5 Hold, 0 Sell)

Reporting Today:

UK

 

None

 

 

US

 

None

 

Reporting Monday:

UK

 

Kainos Group

 

 

US

 

None

 

 

In Focus Today:

German Retail Sales

Eurogroup Meeting

German Unemployment

EU Core Harmonized Index of Consumer Prices

EU Unemployment Rate

US Personal Consumption Expenditures

US Personal Income

US Personal Spending

Michigan Consumer Sentiment Index

UoM 5-year Consumer Inflation Expectation

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 5th September 2024:

 

Smith (DS)

Croda International

International Cons Airlines Group

Aviva

Admiral Group

Antofagasta

Prudential

 

 

UK 250 companies going ex-dividend on5th September 2024:

 

Greggs

Rathbones Group

International Workplace Group

Derwent London

JLEN Environmental Assets Group

Empiric Student Property

Ithaca Energy

BlackRock World Mining Trust

BBGI Global Infrastructure S.A.

Assura

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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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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