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Morning Report - 6 November 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Melrose Industries PLC 498.8 5.2%
3I Group PLC 3,340.0 4.3%
BT Group PLC 147.4 3.7%
Associated British Foods PLC 2,362.0 3.2%
United Utilities Group PLC 1,059.5 3.2%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Schroders PLC 313.8 -13.7%
Astrazeneca PLC 10114.0 -8.4%
Hikma Pharmaceuticals PLC 1820.0 -1.9%
GSK PLC 1391.5 -1.6%
Land Securities Group PLC 595.0 -1.4%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,172 -0.1% 10.2%
DOW JONES INDUS. AVG 42,222 1.0% 23.8%
DAX INDEX 19,256 0.6% 27.2%
NIKKEI 225 39,240 2.0% 20.3%
S&P/ASX 200 INDEX 8,200 0.8% 17.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.05 -1.31%
Brent Crude (ICE) USD/bbl. 74.49 -1.38%
Gold Spot USD/t oz. 2,738 -0.2%
Copper (Comex) USd/lb. 437 -2.3%

 

The UK 100 called to open +81 points at 8,252

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +81 points at 8,252. The UK 100 looks set to open higher this morning, as traders await not only the official outcome of the US election (Fox news are projecting that Republican candidate Donald Trump will win the election) but also look ahead to tomorrows Bank of England and Federal Reserve interest rate decisions.

 

Stocks on Wall Street rallied on Tuesday, as traders awaited the results from a high-stakes U.S. presidential election.  The S&P gained 1.23% to close at 5,782.76. The Nasdaq rose by 1.43% to end the session at 18,439.17, while the Dow Jones added 427.28 points, or 1.02%, and settled at 42,221.88.

US stock futures also gained traction overnight and into the morning, The 30 stock Dow was up 470 points, the tech heavy Nasdaq 177 points higher & the broad market S&P had added 56 points.

Company News & Broker Comments:

Company News:

Domino’s Pizza Group said they have seen an increase in delivery orders, leading to a 3% rise in total system sales for Q3 2024 compared to the same period last year. The company is continuing to expand its store network, aiming to open 50 to 60 new locations by the end of the fiscal year. With strong customer service and innovative menu offerings, Domino’s is well-positioned for sustained growth in the UK market.

 

Marks & Spencer reported a better-than-expected 17.2% rise in first-half profit, helped by market share gains, and forecast “further progress” for the full year, adding to evidence its latest turnaround plan is working.

 

Persimmon this morning has reported strong trading momentum, with a 37% increase in net private sales rate and a robust forward order book up by 17% compared to the previous year. The company remains on track to complete approximately 10,500 homes this year, supported by stable market conditions and improved affordability for first-time buyers. Despite some signs of build cost inflation, Persimmon is well-positioned for growth with a solid land portfolio and ongoing strategic efforts to mitigate cost impacts.

Broker Comments:

AstraZeneca Upgraded to Hold from Sell by Deutsche Bank (14 Buys / 3 Holds / 2 Sell)

 

Smith & Nephew Downgraded to Hold from Buy by Berenberg (12 Buys / 7 Holds / 0 Sell)

 

 

Reporting Today:

UK

 

Beazley

Domino Pizza Group

Marks & Spencer

Morgan Sindall

OSB Group

Persimmon

Scottish Mortgage Investment Trust*

TBC Bank Group

Wetherspoon (JD)*

 

 

US

 

Markel Group

Novo Nordisk

Airbnb

ARM Holdings

Jackson Financial

MercadoLibre

Qualcomm Inc

Take-Two Interactive Software

Reporting Tomorrow:

UK

 

Autotrader Group

BT Group

Derwent London

Endeavor Mining

Helios Towers

Hikma Pharmaceuticals

Howden Joinary Group

IMI

ITV

National Grid

RS Group

Rolls-Royce Group

Sainsbury (J)*

Tate & Lyle

Taylor Wimpey

Trainline

Wizz Air Holding

Wood Group (John)

 

US

 

Barrick Gold

Viatris

Arista Networks

Cloudflare

Gilead Sciences

Lucid Group

Pinterest

Rivian Automotive

The Trade Desk

Unity Software

Upstart Holdings

Moderna*

Block*

 

 

In Focus Today:

German Factory Orders

German HCOB Composite PMI

German HCOB Services PMI

EU HCOB Composite PMI

EU Producer Price Index

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 7th November 2024:

 

Unilever

Airtel Africa

JD Sports Fashion

HSBC Holdings

BP

UK 250 companies going ex-dividend on 7th November 2024:

 

ME Group International

SThree

Genus

Ashmore Group

European Opportunities Trust

Bytes Technology Group

Softcat

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