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Morning Report - 17 December 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Rolls-Royce Holdings PLC 583.8 2.0%
3I Group PLC 3,697.0 1.4%
Halma PLC 2,771.0 1.4%
London Stock Exchange Group PLC 11,515.0 1.1%
International Consolidated Airlines Group S.A. 296.4 1.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
Entain PLC 763.8 -6.3%
Centrica PLC 126.4 -3.7%
Convatec Group PLC 227.6 -3.1%
Endeavour Mining PLC 1459.0 -3.1%
BP PLC 385.1 -2.7%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,262 -0.5% 9.1%
DOW JONES INDUS. AVG 43,717 -0.3% 17.2%
DAX INDEX 20,314 -0.5% 21.3%
NIKKEI 225 39,365 -0.2% 19.4%
S&P/ASX 200 INDEX 8,314 0.8% 11.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 70.82 0.16%
Brent Crude (ICE) USD/bbl. 74.08 0.23%
Gold Spot USD/t oz. 2,655 0.1%
Copper (Comex) USd/lb. 417 -0.4%

 

The UK 100 called to open -40 points at 8,222

1 Day; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -40 points at 8,222. The UK 100 looks set to open lower this morning, after this mornings ILO Unemployment read stayed unchanged at 4.3% in the three months to October, the reading matched the market estimate of 4.3% in the reported period.

Additional details of the report showed that the number of people claiming jobless benefits climbed by only 0.3K in November, compared with a decrease of 10.9K in October, beating the expected 28.2K figure.

In Asia this morning, markets in Tokyo, Shanghai, Sydney, Wellington and Taipei all rose, but Hong Kong, Singapore, Seoul, Manila and Jakarta ticked lower.

The Nasdaq rose to a record, aided by a rally in tech, as investors awaited tomorrow’s Federal Reserve’s policy meeting. The tech-heavy index gained 1.24% to 20,173.89, while the S&P added 0.38%, closing at 6,074.08. The Dow Jones underperformed, losing 110.58 points, or 0.25%, to end at 43,717.48. The 30-stock Dow fell for an eighth day, marking its longest run of losses since 2018.

 

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Company News & Broker Comments:

Company News:

Bunzl on Tuesday forecast a slight impact on its annual profit, driven by stickier-than-anticipated deflation, especially in its Continental Europe division.  However, the business supplies distributor still expects group adjusted operating profit in 2024 to be higher in comparison with 2023 at constant exchange rates.

 

Chemring this morning delivered full Year revenue of £510.4m beating estimates of £502.6m. Said they had delivered on expectations despite operational headwinds. Increased global uncertainty & competition have resulted in order book being at its highest level in history, £1.04bn at period end.

 

 

Broker Comments:

 

London Stock Exchange Upgraded Buy from Neutral by UBS (12 Buy/ 5 Hols/ 1 Sell)

 

 

Reporting Today:

UK

 

Bunzl

Chemring Group

Hollywood Bowl Group

Sthree*

 

 

US

 

None

Reporting Tomorrow:

UK

 

IntegraFin Holdings

 

US

 

Micron Technology

In Focus Today:

UK Average Earnings Excluding Bonus

UK Claimant Count Change

UK Employment Change

UK ILO Unemployment Rate

German IFO – Business Climate

German IFO – Current Assessment

German IFO – Expectations

German ZEW Survey – Current Situation

German ZEW Survey – Economic Sentiment

ECB’s Elderson speech

EU EW Survey – Economic Sentiment

US Retail Sales

US Retail Sales Control Group

US Industrial Production

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 19th December 2024:

 

British American Tobacco

Halma

UK 250 companies going ex-dividend on 19th December 2024:

 

MITIE Group

JPMorgan European Discovery Trust

Templeton Emerging Markets IT

Mercantile Investment Trust

Law Debenture Corporation

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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