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| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| Anglo American PLC | 2,736.0 | 3.1% |
| Jd Sports Fashion PLC | 120.2 | 2.9% |
| Ocado Group PLC | 353.8 | 2.3% |
| Rightmove PLC | 572.8 | 2.1% |
| RS Group PLC | 822.5 | 1.8% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| 3I Group PLC | 2,820.0 | -5.2% |
| HSBC Holdings PLC | 690.9 | -4.2% |
| Melrose Industries PLC | 595.6 | -1.6% |
| Pearson PLC | 1,000.0 | -1.5% |
| Intercontinental Hotels Group PLC | 7,792.0 | -1.2% |
| Major World Indices | Price | % Chg | 1 YEAR |
| UK 100 INDEX | 8,381 | 0.3% | 8.3% |
| DOW JONES INDUS. AVG | 39,388 | 0.9% | 17.5% |
| DAX INDEX | 18,687 | 1.0% | 17.6% |
| NIKKEI 225 | 38,229 | 0.4% | 31.3% |
| S&P/ASX 200 INDEX | 7,749 | 0.4% | 6.8% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 79.90 | 0.81% |
| Brent Crude (ICE) | USD/bbl. | 84.47 | 0.70% |
| Gold Spot | USD/t oz. | 2,363 | 0.7% |
| Copper (Comex) | USd/lb. | 467 | 1.9% |
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The UK 100 called to open +21 points at 8,402. The UK’s bluechip index’s recently rally looks set to continue this morning, after data this morning showed the UK economy grew 0.2% year on year and 0.6% sequentially in the first quarter of 2024, officially putting recession fears to rest after slipping at the end of 2023. In fact, Britain’s economy grew at the fastest rate in two years, with the 0.6% quarter-on-quarter growth rate eclipsing market forecasts of 0.4%. Yesterday’s dovish undertones from the Bank of England’s interest rate hold have put the stock market in good spirits. Stocks rose Thursday, with the Dow Jones claiming a seventh winning day, as new jobless claims data rekindled hope for Federal Reserve rate cuts later this year. The 30-stock Dow jumped 331.37 points, or 0.85%, to close at 39,387.76 and notch its longest win streak since a nine-day run in December. The S&P added 0.51% to close at 5,214.08, while the Nasdaq gained 0.27% and ended at 16,346.26.
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an additional cash component to the bid. Rio Tinto have also considered an offer for Anglo American.
IAG reported better than expected Q1 earnings, with an operating profit of 68m euros as the group saw strong forward bookings whilst projecting a busy and profitable summer.
S4 Capital report Q1 billings of £430.1m, down from £455.9m YoY. They have maintained 2024 guidance, as they expect their performance to be H2 weighted.
Vodafone the British government have made a final order to conditionally approve the proposed merger between Vodafone’s UK operation and Hutchinson’s Three UK, following a detailed national security assessment of the telecom deal.
No new broker comments
UK
3i Infrastructure*
International Consolidated Airlines Group
TBC Bank Group
CRH
US
None
UK
Victrex PLC
Diploma PLC
US
None
UK Gross Domestic Product
UK Industrial Production
UK Manufacturing Production
BoE’s Pill speech
Fed’s Logan speech
Michigan Consumer Sentiment Index
UoM 5-year Consumer Inflation Expectation
Fed’s Goolsbee speech
US Monthly Budget Statement
UK 100 companies going ex-dividend on 16th May 2024:
Kingfisher
Tesco
Bunzl
BP
Shell
Unilever
GSK
Pershing Square Holdings
UK 250 companies going ex-dividend on 16th May 2024:
RHI Magnesita N.V.
PageGroup
Balfour Beatty
Octopus Renewables Infrastructure Trust
Renewables Infrastructure Group
Greencoat UK Wind
Spectris
Essentra
Murray Income Trust
Witan Investment Trust
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