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Morning Report - 13 November 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Convatec Group PLC 264.4 22.1%
Dcc PLC 5,670.0 14.2%
Rightmove PLC 607.6 2.6%
Smith & Nephew PLC 956.2 2.0%
Centrica PLC 118.0 1.1%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Vodafone Group PLC 67.0 -8.2%
Fresnillo PLC 623.0 -7.8%
Vistry Group PLC 713.5 -5.6%
Prudential PLC 608.0 -5.2%
Anglo American PLC 2220.0 -4.6%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,026 -1.2% 8.1%
DOW JONES INDUS. AVG 43,911 -0.9% 27.9%
DAX INDEX 19,034 -2.1% 24.0%
NIKKEI 225 38,743 -1.6% 19.5%
S&P/ASX 200 INDEX 8,193 -0.8% 17.9%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.30 0.26%
Brent Crude (ICE) USD/bbl. 72.11 0.31%
Gold Spot USD/t oz. 2,605 0.3%
Copper (Comex) USd/lb. 413 -0.1%
The UK 100 called to open +15 points at 8,040

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +15 points at 8,040.  The UK 100 looks set to open marginally higher this morning, this follows a tough day for the UK’s blue chip index.

 

On Wall Street yesterday shares took a step back as the major indices took a breather from their postelection run.  The Dow Jones pulled back 382.15 points, or 0.86%, to 43,910.98, while the S&P dropped 0.29% to close at 5,983.99. The Nasdaq ended the session marginally lower, falling 0.09% to 19,281.40. Both the tech-heavy Nasdaq and the S&P ended five-day win streaks.

 

Investors will be looking toward todays October’s CPI numbers. The forecast is that CPI will have increased 0.2% for the month, which would put the 12-month rate at 2.6%. The pace of price increases is also one of the key components to informing the Federal Reserve’s decision to cut or maintain interest rates.

Company News & Broker Comments:

Company News:

Babcock reported a sharp jump in half-year profits and held annual guidance as geopolitical tensions increased demands from governments for military hardware. posted pre-tax profit of £172m in the six months to September 30, up from £136m a year earlier.  Babcock said around 90% of full-year expected revenue was under contract at the start of October.

 

Experian posted revenues of £2.8bn for the six months to the end of September, while operating profit rose by 10% to £691m.  All regions contributed positively in H1. Organic revenue growth was 7% in North America, 7% in Latin America, 2% in the UK and Ireland, and 7% in EMEA and Asia Pacific.  The company also raised it’s full-year forecast after successful six months.

 

Smiths Group on Wednesday upgraded its annual organic revenue growth outlook after the engineering firm posted a 15.8% rise in first-quarter revenue.  The company now expects full-year organic revenue growth of 5%-7%, up from the original 4%-6% guidance.

 

SSE on Wednesday reported a 26.4% jump in half-year profit, buoyed by strength in its electricty networks and renewables businesses.  The company also said its CEO of more than 11 years, Alistair Phillips-Davies, will retire in 2025 and will remain in the role until a successor is appointed.

Broker Comments:

No New Broker Comments

 

Reporting Today:

UK

 

Babcock International Group

Experian

Intermediate Capital Group

SSE

Smiths Group

 

 

US

 

Cisco Systems

Reporting Tomorrow:

UK

 

Aviva

B&M European Value Retail

Burberry Group

FirstGroup

Great Portland Estates

Keller Group

Kier Group

Premier Foods

QinetiQ Group

Spirax Group

Syncona

United Utilities Group

WH Smith

 

 

US

 

JD.com

The Walt Disney Co

Applied Materials

 

 

In Focus Today:

EU Industrial Production

BoE Monetary Policy Report Hearings

US Consumer Price Index

US Monthly Budget Statement

Fed’s Musalem speech

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 14th November 2024:

 

Pershing Square Holdings

Bunzl

GSK

Shell

Sainsbury (J)

UK 250 companies going ex-dividend on 14th November 2024:

 

ICG Enterprise Trust

Fidelity Emerging Markets

Schroder Oriental Income Fund

Greencoat UK Wind

Baillie Gifford Japan Trust

C&C Group

Target Healthcare REIT

Lancashire Holdings

Murray Income Trust

Scottish American Investment Company

PRS REIT

NextEnergy Solar Fund

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