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Morning Report - 11 November 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
International Consolidated Airlines Group S.A. 234.5 7.2%
Endeavour Mining PLC 1,669.0 4.3%
Intercontinental Hotels Group PLC 9,258.0 2.8%
BT Group PLC 140.0 2.2%
Pearson PLC 1,204.0 1.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Vistry Group PLC 738.0 -15.5%
Antofagasta PLC 1689.0 -6.6%
Glencore PLC 394.8 -5.0%
Rio Tinto PLC 4946.0 -4.9%
Marks And Spencer Group PLC 374.5 -4.8%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,072 -0.8% 9.7%
DOW JONES INDUS. AVG 43,989 0.6% 28.3%
DAX INDEX 19,215 -0.8% 26.1%
NIKKEI 225 39,533 0.1% 21.4%
S&P/ASX 200 INDEX 8,266 -0.4% 18.5%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 70.25 -0.18%
Brent Crude (ICE) USD/bbl. 73.87 0.00%
Gold Spot USD/t oz. 2,670 -0.6%
Copper (Comex) USd/lb. 431 0.1%
The UK 100 called to open +40 points at 8,112

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +40 points at 8,112. The UK 100 looks set to end the UK’s blue chip index’s 4 day loosing streak.

On Wall Street Friday, markets climbed to another round of records as the Dow and S&P 500 wrapped up their best week in a year after Donald Trump’s election win.  The Dow Jones rose 259.65 points, or 0.59%, to close at 43,988.99. The blue chip average traded above 44,000 for the first time ever during the session. The S&P gained 0.38% to close at 5,995.54, after briefly trading above 6,000 for its own milestone. The tech-heavy Nasdaq lagged, up just 0.09% to 19,286.78, but set an intraday record high as well.

Asian markets were mixed overnight and into this morning, with the Hang Seng down 1.5% and the wider Asia Dow falling 1%, but the Shanghai Composite and India’s Sensex both around 0.4% higher.

Company News & Broker Comments:

Company News:

Direct Line Insurance Group reported a robust 11.8% growth in gross written premiums for Q3 2024, driven by strong performance in both Motor and Non-Motor segments despite challenging trading conditions. The company is on track to achieve significant cost savings and has made strategic leadership hires to bolster its turnaround efforts.

 

NatWest bought back £1 billion of its shares from the UK government as the bailout stake bought at the height of the 2008 financial crisis continues to be wound down.  The lender said it agreed to scoop up 262.6 million shares from HM Treasury in an off-market purchase at a price of 380.8p apiece, representing 3.16% of the total share capital.

Broker Comments:

No New Broker Comments

 

Reporting Today:

UK

 

Direct Line Insurance Group

HgCapital Trust

Kainos Group

 

 

US

 

None

Reporting Tomorrow:

UK

 

3i Infastructure

AstraZeneca

Bank Of Georgia Group*

ConvaTec Group

DCC

Oxford Instruments

Renewi

Vodafone Group

 

 

US

 

Shopify

Spotify Technology SA

The Home Depot

Marathon Digital

Occidental Petroleum

 

 

In Focus Today:

US Loan Officer Survey

 

 

This Week’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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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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