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Morning Report - 10 September 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Entain PLC 673.2 5.3%
Melrose Industries PLC 472.1 4.2%
Diploma PLC 4,424.0 2.9%
Rolls-Royce Holdings PLC 475.6 2.8%
Croda International PLC 3,972.0 2.7%
Yesterday’s UK 100 Laggards Price (p) % Chg
Burberry Group PLC 575.0 -4.9%
Berkeley Group Holdings (The) PLC 4951.0 -3.7%
Pearson PLC 1058.5 -1.4%
Reckitt Benckiser Group PLC 4486.0 -1.2%
Associated British Foods PLC 2180.0 -1.1%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,271 1.1% 10.6%
DOW JONES INDUS. AVG 40,830 1.2% 18.1%
DAX INDEX 18,444 0.8% 17.1%
NIKKEI 225 36,216 -0.5% 11.1%
S&P/ASX 200 INDEX 7,988 -0.3% 11.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.80 1.67%
Brent Crude (ICE) USD/bbl. 71.94 1.24%
Gold Spot USD/t oz. 2,506 0.4%
Copper (Comex) USd/lb. 414 1.7%
The UK 100 called to open -43 points at 8,227. 

1 Hours; 4 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -43 points at 8,227.  The UK 100 looks set to open lower this morning returning some of yesterday’s gains after global markets rebounded yesterday from Fridays fall.

Data out this morning shows that the unemployment rate fell to 4.1% in July from 4.2% in June, coming in, inline with market expectations.

In employment change terms, 265,000 new jobs were added in July, far exceeding the 115,000 new jobs forecast.

The Dow Jones surged 484.18 points, or 1.2%, to close at 40,829.59. The rebound comes after the 30-stock index lost more than 1,200 points last week. The S&P gained 1.16%, ending at 5,471.05, after posting its worst week since March 2023. The benchmark also broke a four-day losing streak.  The Nasdaq jumped 1.16% to end at 16,884.60, following its worst week in more than two years.

Markets were mixed in Asia this morning as traders awaited US inflation data due this week for clues on the size of the Federal Reserve’s coming interest-rate cut.

 

Company News & Broker Comments:

Company News:

 

AngloGold Ashanti and Centamin have announced that they have agreed the terms of a recommended acquisition of Centamin.

 

Serica Energy, reported a decline in profit for the first half of 2024 due to a $106 million tax charge. The company’s profit after tax dropped to $82.5 million for the six-month period ending June 30, compared to $98.5 million the previous year.

 

Broker Comments:

No New broker comments

 

Reporting Today:

UK

 

IQE*

Serica Energy

 

 

US

 

GameStop

 

Reporting Tomorrow:

UK

 

Dunelm Group

Energean

Trustpilot Group

WH Smith

 

 

US

 

None

 

 

In Focus Today:

Chinese Exports

Chinese Imports

Chinese Trade Balance

German Harmonized Index of Consumer Prices

UK Average Earnings

UK Claimant Count Change

UK Employment Change

UK ILO Unemployment Rate

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 12th September 2024:

 

Endeavour Mining

Intertek Group

M&G

 

 

UK 250 companies going ex-dividend on 12th September 2024:

 

Baltic Classifieds Group

Goodwin

Grafton Group

Direct Line Insurance Group

Alpha Group International

International Public Partnerships

Apax Global Alpha

Bakkavor Group

SDCL Energy Efficiency Income Trust

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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