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Morning Report - 9 October 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Imperial Brands PLC 2,242.0 4.4%
Ashtead Group PLC 5,736.0 1.6%
International Consolidated Airlines Group S.A. 194.5 1.3%
Reckitt Benckiser Group PLC 4,594.0 0.9%
Hikma Pharmaceuticals PLC 1,894.0 0.8%
Yesterday’s UK 100 Laggards Price (p) % Chg
Vistry Group PLC 981.0 -22.9%
Anglo American PLC 2288.0 -6.4%
Antofagasta PLC 1885.0 -5.3%
Rio Tinto PLC 5060.3 -4.5%
Glencore PLC 418.1 -4.4%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,189 -1.4% 9.7%
DOW JONES INDUS. AVG 42,020 0.2% 25.5%
DAX INDEX 19,064 -0.2% 25.2%
NIKKEI 225 38,938 -1.0% 25.6%
S&P/ASX 200 INDEX 8,177 -0.4% 17.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 73.25 -5.04%
Brent Crude (ICE) USD/bbl. 76.99 -4.87%
Gold Spot USD/t oz. 2,607 -1.4%
Copper (Comex) USd/lb. 445 -2.6%

 

The UK 100 called to open +25 points at 8,214

4 Hours; 7 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +25 points at 8,214. The UK 100 looks set to open moderately higher this morning, following a difficult session yesterday for traders and shares in China came off lows despite apparent disappointment with the stimulus package.

 

In China the Shanghai Composite was down 3.6%, the index had been 2% lower earlier in trading.  The Hang Seng in Hong Kong moved from negative to positive, adding 1% at time of writing.

 

Stocks rebounded on Tuesday following a losing session on Wall Street, as oil prices eased and investors assessed ongoing tensions in the Middle East.  The S&P gained 0.97% to settle at 5,751.13, and the Nasdaq rose 1.45% to finish at 18,182.92. The Dow Jones added 126.13 points, or 0.3%, to end at 42,080.37.

 

Company News & Broker Comments:

Company News:

 

Hammerson this morning said they had completed refinancing transaction to underpin its growth strategy.

 

Mondi today announces that it has entered into an agreement to acquire the German, Benelux and UK corrugated converting and solid board operations of Schumacher Packaging.  This Acquisition will expand Mondi’s corrugated footprint in Western Europe and add complementary fibre-based products, focused on eCommerce and FMCG, to enhance its existing customer offering.

 

Rio Tinto and Arcadium Lithium plc today announced a definitive agreement under which Rio Tinto will acquire Arcadium in an all-cash transaction for US$5.85 per share.

 

 

Broker Comments:

United Utilities upgraded by RBC to Outperform from Sector Perform (7 Buy/ 6 Hold/ 1 Sell)

 

Reporting Today:

UK

 

Mercantile Investment Trust*

Marstons

 

 

US

 

None

 

Reporting Tomorrow:

UK

 

Volution Group

 

 

US

 

Delta Air Lines

 

 

In Focus Today:

German Trade Balance s.a.

Fed’s Jefferson speech

FOMC Minutes

Fed’s Daly speech

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 10th October 2024:

 

Taylor Wimpey

WPP

Kingfisher

Tesco

 

UK 250 companies going ex-dividend on 10th October 2024:

 

JPMorgan Emerging Markets Invest Trust

Merchants Trust

Bluefield Solar Income Fund

Supermarket Income REIT

Primary Health Properties

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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