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Morning Report - 20 September 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Rolls-Royce Holdings PLC 525.0 5.9%
Fresnillo PLC 588.5 4.5%
Antofagasta PLC 1,858.0 4.5%
Ashtead Group PLC 5,780.0 4.3%
Jd Sports Fashion PLC 156.5 4.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
SSE PLC 1942.0 -2.7%
National Grid PLC 1023.0 -2.6%
Vodafone Group PLC 76.2 -2.5%
Reckitt Benckiser Group PLC 4576.0 -2.0%
GSK PLC 1574.5 -1.8%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,329 0.9% 8.7%
DOW JONES INDUS. AVG 42,025 1.3% 21.8%
DAX INDEX 19,002 1.6% 21.3%
NIKKEI 225 37,155 2.1% 12.5%
S&P/ASX 200 INDEX 8,192 0.6% 14.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.95 1.47%
Brent Crude (ICE) USD/bbl. 74.93 1.74%
Gold Spot USD/t oz. 2,587 1.1%
Copper (Comex) USd/lb. 435 1.1%

 

The UK 100 called to open -48 points at 8,280

4 Hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -48 points at 8,280. The UK 100 looks set to open lower this morning, this comes after GFK Consumer confidence data out this morning showed a fall in the run-up to next month’s Budget.

Retail Sales data however showed a strong August after figures published by the Office for National Statistics today showed sales volumes rose by a forecast beating 1%.The performance, which followed a rise of 0.7% in July, left the year-on-year figure up by 2.5%. That’s much bigger than the City consensus of 1.4%.

On Wall Street yesterday stocks rallied as jobs data out provided validation and hope for a soft landing for the worlds largest economy, after Fed officials made the decision to cut interest rates by half a percent on Wednesday, The Dow Jones advanced 522.09 points, or 1.26%, ending at 42,025.19, marking its first close above the 42,000 level. The S&P rose 1.7% to close at 5,713.64, topping 5,700 for the first time. The Nasdaq surged 2.51% to end at 18,013.98.

 

Company News & Broker Comments:

Company News:

 

Doc Martens biggest shareholder, Ingregrsy are selling 70 million shares via placing at 57.85p

 

Investec this morning delivered results, they said revenue momentum had continued, adjusted operating profit for the year to be between £520m-£550m and they continue to trade in-line with Full Year 25 guidance.

 

 

Broker Comments:

Jefferies downgraded Burberry to Underperform from Hold (1 Buy / 14 Hold/ 4 Sell)

 

Reporting Today:

UK

 

None

 

 

US

 

None

 

Reporting Monday:

UK

 

None

 

 

US

 

None

 

 

In Focus Today:

PBoC Interest Rate Decision

BoJ Interest Rate Decision

BoJ Monetary Policy Statement

German Producer Price Index

BoJ Press Conference

UK Retail Sales

BoE’s Mann speech

EU Consumer Confidence

Fed’s Harker speech

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 26th September 2024:

 

British American Tobacco

Rightmove

Barratt Developments

 

UK 250 companies going ex-dividend on 26th September 2024:

 

Breedon Group

Bank of Georgia Group

Alfa Financial Software Holdings

Computacenter

HgCapital Trust

JTC

Petershill Partners

Mercantile Investment Trust

Ruffer Investment Company

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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