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Morning Report - 5 September 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Rolls-Royce Holdings PLC 480.7 1.8%
Imperial Brands PLC 2,229.0 1.6%
Vodafone Group PLC 76.8 1.5%
Compass Group PLC 2,435.0 1.3%
British American Tobacco PLC 2,901.0 1.2%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Airtel Africa PLC 110.0 -5.2%
Barratt Developments PLC 496.3 -4.6%
Burberry Group PLC 623.2 -4.5%
Ashtead Group PLC 5226.0 -3.4%
Persimmon PLC 1581.0 -3.3%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,270 -0.4% 11.0%
DOW JONES INDUS. AVG 40,975 0.1% 17.6%
DAX INDEX 18,592 -0.8% 17.5%
NIKKEI 225 37,048 -4.2% 12.1%
S&P/ASX 200 INDEX 7,950 -1.9% 8.7%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.86 -2.10%
Brent Crude (ICE) USD/bbl. 72.37 -1.87%
Gold Spot USD/t oz. 2,495 0.1%
Copper (Comex) USd/lb. 408 -0.3%

 

The UK 100 called to open -24 points at 8,247

1 Hours; 4 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -24 points at 8,247. The UK 100 looks set to dip this morning following a resilient showing yesterday for the UK’s blue chip index.

The S&P 500 and the Nasdaq Composite fell for a second straight session in a lackluster start to September.

The S&P 500 lost 0.16% to finish at 5,520.07, while the Nasdaq Composite slipped 0.3% to close at 17,084.30. The Dow Jones Industrial Average.

Asia-Pacific markets fell Thursday, extending their declines after a sell-off in the previous session, with Japan’s Nikkei leading losses in the region.

The Nikkei fell 1.15%, while the broad-based Topix was down 0.58%, after the release of Japan’s July wage data.

 

Company News & Broker Comments:

Company News:

 

AB FOODS (ABF) Primark revenue growth expected to be 4% in H2 with like for like sales -0.5% in H2 reflecting unfavourable weather. Grocery continues to perform well with sales growth expected to be c3%. Sugar performance mixed with operating profit of £200m – strongly ahead of last year, but lower than previously anticipated.

 

Ashmore reported a 12% drop in adjusted profit before tax for the year to 30 June 2024. The group reported an adjusted profit before tax of $105m (£80m), below expectations of $113m (£86m).

 

British electricals retailer Currys, a takeover target earlier this year, reported underlying sales rose 2% over the last four months, putting it on track to grow profit this year.

 

JET2 Year to date trading in line with group expectations. July & August strong late booking momentum with September currently showing a similar trend.  “Premature” to give FY25 profitability guidance due late booking profile, the remaining summer months of Sept & Oct not yet complete, plus the majority of Winter 2024/25 seat capacity still to sell.

 

Rolls Royce Japan Airlines inspections of A350-1000 Aircrafts continue – no defects found so far

 

Vistry this morning announced a share buy back worth £130 million ($171 million), after posting a 7% rise in half-year earnings, helped by resilient demand for its affordable homes.

 

 

Broker Comments:

No New broker comments

 

Reporting Today:

UK

 

Ashmore Group

Bakkavor Group

Currys

Genus

International Public Partnership

Safestore Holdings

Vistry Group

W.A.G Payment Solutions

 

 

US

 

DocuSign

UiPath

 

Reporting Tomorrow:

UK

 

Berkeley Group

Darktrace

Hilton Food Group

Playtech

 

 

US

 

None

 

 

In Focus Today:

German Factory Orders

EU Retail Sales

US Challenger Job Cuts

US ADP Employment Change

US Initial Jobless Claims

US Nonfarm Productivity

US Unit Labor Costs

US S&P Global Composite PMI

US ISM Services PMI

 

 

Today’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

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