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Morning Report - 18 October 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Rentokil Initial PLC 371.0 8.8%
Melrose Industries PLC 448.8 4.0%
Informa PLC 841.0 3.9%
Anglo American PLC 2,337.5 3.4%
Barclays PLC 245.1 3.4%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Mondi PLC 1286.5 -7.5%
United Utilities Group PLC 1085.5 -1.9%
Rio Tinto PLC 4946.0 -1.9%
Persimmon PLC 1688.5 -1.8%
Smiths Group PLC 1626.0 -1.8%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,385 0.7% 10.5%
DOW JONES INDUS. AVG 43,239 0.4% 28.4%
DAX INDEX 19,583 0.8% 29.7%
NIKKEI 225 38,992 0.2% 21.7%
S&P/ASX 200 INDEX 8,283 -0.9% 17.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.04 0.52%
Brent Crude (ICE) USD/bbl. 74.75 0.40%
Gold Spot USD/t oz. 2,708 0.6%
Copper (Comex) USd/lb. 439 1.6%

 

The UK 100 called to open -40 points at 8,345

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -40 points at 8,345.  The UK 100 looks set to open lower this morning following a strong showing yesterday for the blue-chip index, the expected pull back comes despite retail figures out this morning showing a robust end to the summer after official figures recorded sales volumes growth of 0.3% in September.  This compares with expectations for a fall of 0.3%, having jumped by 1% the previous month.  The year-on-year growth figure for September came in at 3.9%, up from 2.3% reported the previous month.

On Wall Street yesterday, The Dow Jones rose 161 points, or 0.37%, to 43,239.05, The Nasdaq inched higher on Thursday after getting a boost from semiconductor names, and ultimately added 0.04% to 18,373.61. The S&P closed down 0.02% to 5,841.47.

Asian markets saw a mixed performance overnight on news Chinese economic growth slowed to 4.6% over the third quarter.  Though this was slightly better than analysts had been forecasting, it marked the slowest rate seen since early 2023

 

Company News & Broker Comments:

Company News:

 

Boohoo said its CEO John Lyttle would step down as the group announced a review of strategic options for its various divisions to maximise shareholder value.  The group also said on Friday it has agreed a new 222 million pounds ($290 million) debt facility and reported a 7% fall in first half sales by gross merchandise value.

 

Evoke said its turnaround strategy was working today as it posted its first quarter of revenue growth since the start of 2022.  In a trading update on its third quarter, the gambling firm said it had notched revenue of £417m over the period despite a 13 per cent slide in its gambling unit, as customer friendly results in UK football dented revenues by around £10m.

 

Broker Comments:

Compass Group downgraded by Deutsche Bank to Hold from Buy (11 Buy / 8 Hold / 1 Sell)

 

Reporting Today:

UK

 

None

 

 

US

 

American Express

Procter & Gamble

SLB

 

Reporting Tomorrow:

UK

 

None

 

 

 

US

 

None

 

 

In Focus Today:

EU leaders summit

Chinese Gross Domestic Product

Chinese Industrial Production

Chinese Retail Sales

UK Retail Sales

US Building Permits

US Housing Starts

Fed’s Bostic speech

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 24th October 2024:

 

BAE Systems

 

UK 250 companies going ex-dividend on 24th October 2024:

 

Morgan Advanced Materials

Marshalls

Foresight Solar Fund

City of London Investment Trust

Kier Group

Pacific Horizon Investment Trust

Bankers Investment Trust

Wetherspoon (JD)

Brunner Investment Trust

Games Workshop Group

Sequoia Economic Infrastructure Inc Fund

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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