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Morning Report - 25 September 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Antofagasta PLC 1,952.5 7.0%
Anglo American PLC 2,261.0 6.5%
Prudential PLC 668.8 4.7%
Rio Tinto PLC 5,057.0 4.7%
Glencore PLC 400.0 3.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Smiths Group PLC 1725.0 -5.2%
Vistry Group PLC 1329.0 -1.7%
Coca-Cola Hbc AG 2688.0 -1.5%
Howden Joinery Group PLC 933.5 -1.4%
Segro PLC 871.0 -1.3%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,283 0.3% 7.8%
DOW JONES INDUS. AVG 42,143 0.0% 24.0%
DAX INDEX 18,997 0.8% 22.1%
NIKKEI 225 37,941 0.6% 16.1%
S&P/ASX 200 INDEX 8,142 -0.1% 15.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.28 1.29%
Brent Crude (ICE) USD/bbl. 74.91 1.37%
Gold Spot USD/t oz. 2,648 0.7%
Copper (Comex) USd/lb. 448 3.2%
The UK 100 called to open -47 points at 8,235

4 Hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -47 points at 8,235.  The UK 100 looks set to open lower this morning, this follows on from a mixed session in Asia overnight after the fireworks of the previous session.

On Wall Street yesterday the S&P advanced 0.25% to 5,732.93. The Dow Jones gained 83.57 points, or 0.20%, to close at 42,208.22. Both indexes hit intraday all-time highs and closed at records. The Nasdaq added 0.56% and ended at 18,074.52.

 

Company News & Broker Comments:

Company News:

 

Rentokil Initial today announced the appointment of Brian Baldwin to its Board as a Non-Executive Director with effect from 1 October 2024. He will also become a member of the Nomination Committee and Remuneration Committee from this date.

 

Rightmove said they had received a third unsolicited, non-binding and highly conditional proposal from REA Group Ltd regarding a possible cash and share offer to acquire the entire issued and to be issued ordinary share capital of Rightmove on 22 September 2024.  The Increased Proposal was 341 pence in cash and 0.0422 new REA shares for each Rightmove ordinary share. Based on the closing price of REA on 24 September 2024, this revised proposal implied an offer value of 759 pence. From 30 August 2024.  The Board considered the Increased Proposal, together with its financial advisers, and concluded that the Increased Proposal continues to be unattractive and materially undervalues the Company and its future prospects. Accordingly, the Board unanimously rejected the Increased Proposal on 24 September 2024.

 

 

Broker Comments:

JP Morgan places EasyJet on Positive Catalyst watchlist “Top Pick” (14 Buy / 5 Hold / 0 Sell)

Reporting Today:

UK

 

None

 

 

US

 

Micron Technology

 

Reporting Tomorrow:

UK

 

Halma

CVS Group

 

 

US

 

Accenture

Costco Wholesale

 

 

In Focus Today:

BoE’s Greene speech

US New Home Sales Change

BoJ Monetary Policy Meeting Minutes

 

 

Tomorrow’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

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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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