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Morning Report - 11 April 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Tesco PLC 297.0 3.3%
HSBC Holdings PLC 663.2 2.9%
Rs Group PLC 726.5 2.2%
3I Group PLC 2,827.0 1.8%
Next PLC 8,898.0 1.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Ocado Group PLC 367.7 -3.4%
Anglo American PLC 2,145.5 -2.1%
St. James’s Place PLC 431.8 -2.1%
Barratt Developments PLC 455.9 -2.1%
Experian PLC 3,307.0 -1.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,961 0.3% 2.8%
DOW JONES INDUS. AVG 38,407 -1.2% 14.5%
DAX INDEX 18,097 0.1% 16.0%
NIKKEI 225 39,582 -0.5% 41.8%
S&P/ASX 200 INDEX 7,848 0.3% 7.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 86.30 1.26%
Brent Crude (ICE) USD/bbl. 90.57 1.29%
Gold Spot USD/t oz. 2,330 -1.0%
Copper (Comex) USd/lb. 428 -0.2%
The UK 100 called to open +28 points at 7,978.

4 Hours; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +28 points at 7,978. UK 100 is set to open higher on Thursday, ahead of the latest interest rate decision from the European Central Bank this afternoon (1:15pm). The markets continue to digest the hotter-than-expected US inflation data, alongside the minutes from the FED meeting last night as hopes for an imminent US interest rate cut fade. Wall Street ended lower with the Dow closing -1.1%, S&P -1% and Nasdaq -0.8%. In Asia overnight Shanghai closed +0.6% and Hong Kong -0.2%.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca plans to increase their annualised dividend for 2024 by $0.20 to $3.10 per share, an increase top their dividend of 7%.

 

Darktrace have raised their annual revenue and margin forecasts for the second time in a month after their Q3 revenue jumped nearly 27%.

 

Domino’s Pizza Group agrees to buy the remaining 85% shareholding of Shorecal for 72m euros.

 

Broker Comments:

HSBC Upgrades Kingfisher to Buy from Hold (2 Buys / 8 Holds / 3 Sells)

 

HSBC Upgrades Smiths Group to Buy from Hold (6 Buys / 4 Holds / 0 Sells)

 

JP Morgan Upgrades Marks & Spencer to Overweight from Neutral (5 Buys / 6 Holds / 0 Sells)

Reporting Today:

UK

 

EnQuest*

 

US

 

None

 

Reporting Tomorrow:

UK

 

None

 

US

 

BlackRock

Citigroup Inc

JPMorgan Chase & Co

Wells Fargo & Co

 

 

 

In Focus Today:

Chinese Consumer Price Index

Chinese Producer Price Index

ECB Main Refinancing Operations Rate

ECB Monetary Policy Statement

ECB Rate On Deposit Facility

Initial Jobless Claims

US Producer Price Index

ECB Press Conference

Fed’s Williams speech

Fed’s Bostic speech

 

 

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 11th April 2024:

 

Phoenix Group Holdings

Aviva

Lloyds Banking Group

Smurfit Kappa Group

Reckitt Benckiser Group

Howden Joinery Group

Barratt Developments

F&C Investment Trust

 

 

UK 250 companies going ex-dividend on 11th April 2024:

 

 

TP ICAP Group

ITV

Harbour Energy

International Public Partnerships

Man Group

Grafton Group

Supermarket Income REIT

Savills

Mercantile Investment Trust

Just Group

Hunting

Balanced Commercial Property Trust

Softcat

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