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Morning Report - 10 December 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Vistry Group PLC 710.0 6.1%
Antofagasta PLC 1,815.0 4.9%
Fresnillo PLC 686.0 4.7%
Glencore PLC 394.9 4.5%
BP PLC 393.9 4.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Whitbread PLC 2911.0 -2.6%
BAE Systems PLC 1199.0 -2.5%
Intercontinental Hotels Group PLC 9900.0 -2.4%
Auto Trader Group PLC 826.8 -2.2%
Next PLC 9796.0 -2.0%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,352 0.5% 10.6%
DOW JONES INDUS. AVG 44,402 -0.5% 22.5%
DAX INDEX 20,346 -0.2% 21.4%
NIKKEI 225 39,368 0.5% 21.9%
S&P/ASX 200 INDEX 8,393 -0.4% 16.7%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 67.98 -0.57%
Brent Crude (ICE) USD/bbl. 71.79 -0.49%
Gold Spot USD/t oz. 2,666 0.2%
Copper (Comex) USd/lb. 424 -0.8%
The UK 100 called to open -31 points at 8,321

4 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -31 points at 8,321.  The UK 100 looks set to give up some of yesterdays gains when trading gets underway this morning, the rise for the UK’s blue chip index was partly driven by mining stocks, after China pledged further stimulus measures for next year.

Overnight, markets in Asian were mixed. South Korea’s Kospi rallied after recent drops in the wake of political uncertainty around last week’s martial law declaration.

On Wall Street yesterday, the S&P and Nasdaq pulled back from record highs Monday, with tech shares struggling and investors looking ahead to key inflation data due out this week.  The broad market index fell 0.61% to close at 6,052.85, and the tech-heavy Nasdaq slid 0.62% to end at 19,736.69. The Dow Jones shed 240.59 points, or 0.54%, settling at 44,401.93.

Company News & Broker Comments:

Company News:

Ashtead said on Tuesday that it expects annual profit to come in below previous expectations and that it plans to shift its primary listing from London to the United States, its biggest market. The company said adjusted pre-tax profit fell 2% to $682 million for the three months ended Oct. 31, hurt by higher depreciation costs and lower used-equipment sales amid weakness in commercial construction market in North America.

 

Moonpig has posted a 3.8% increase in revenue for the first half of the year, reaching £158m, driven by strong sales at its Moonpig brand.

 

Broker Comments:

BT Group Downgraded to Equal weight by Goldman (13 Buy/ 2 Hold/ 2 Sell)

 

British Land Upgraded to Buy by Goldman (9 Buy/ 8 Hold/ 1 Sell)

 

Schroders Downgraded to Neutral by JP Morgan (6 Buy/ 9 Hold/ 1 Sell)

 

Unite Upgraded to Overweightby JP Morgan (8 Buy/ 3 Hold/ 0 Sell)

 

Reporting Today:

UK

 

Ashtead

Moonpig Group

 

 

US

 

Gamestop

Reporting Tomorrow:

UK

 

GCP Infastructure Investments

 

US

 

Adobe

In Focus Today:

Chinese Exports

Chinese Imports

Chinese Trade Balance

German Harmonized Index of Consumer Prices

EU Eurogroup Meeting

US Nonfarm Productivity

US Unit Labor Costs

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 12th December 2024:

 

Associated British Foods

Smith (DS)

UK 250 companies going ex-dividend on 12th December 2024:

 

Sirius Real Estate

Ninety One

Investec

Cranswick

Patria Private Equity Trust

SDCL Energy Efficiency Income Trust

TR Property Investment Trust

discoverIE Group

Personal Assets Trust

ZIGUP

Assura

Baltic Classifieds Group

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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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