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Morning Report - 12 June 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Hikma Pharmaceuticals PLC 1,984.8 2.8%
Convatec Group PLC 249.6 1.7%
Intermediate Capital Group PLC 2,274.0 1.3%
RS Group PLC 709.5 1.1%
Experian PLC 3,689.0 1.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
Standard Chartered PLC 721.6 -4.2%
Antofagasta PLC 2072.0 -4.0%
Marks And Spencer Group PLC 299.8 -3.2%
Glencore PLC 462.0 -2.9%
Admiral Group PLC 2580.5 -2.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,151 -0.9% 8.2%
DOW JONES INDUS. AVG 38,664 -0.5% 14.0%
DAX INDEX 18,380 -0.6% 15.5%
NIKKEI 225 39,135 0.3% 20.7%
S&P/ASX 200 INDEX 7,755 -1.3% 8.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 77.49 -0.32%
Brent Crude (ICE) USD/bbl. 81.50 -0.16%
Gold Spot USD/t oz. 2,312 0.1%
Copper (Comex) USd/lb. 448 -1.4%
The UK 100 called to open +34 points at 8,185

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +34 points at 8,185.  The UK 100 looks set to bounce this morning, this follows a difficult session for the UK’s blue chip index yesterday.  UK GDP for the month came in at 0%, the ONS said, down from growth of 0.4% in March, but an improvement on the 0.1% contraction analysts had been expecting.  Asian markets lifted higher overnight, helped by a rising technology sector, with the broadest index, barring Japanese shares, rising by around 0.3%, while Japan’s Nikkei dropped 0.5%.  Focus will now be firmly on the Federal Reserve interest rate decision later today and US CPI data.

 

 

Company News & Broker Comments:

Company News:

Legal & General announces a £200m share buyback programme for 2024, as they aim to invest to drive profitability.

 

Rentokil Initial: Trian Fund Management have amassed a significant stake in Rentokil Initial according to people familiar with the matter.

 

Safestore Holdings report a H1 FY24 pretax profit of £173.7m, up 68% YoY from £103.4m.

 

Tyman: UK CMA confirms it has no further questions about Quanex takeover of Tyman.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Molten Ventures*

Safestore Holdings*

 

 

US

 

Broadcom

 

Reporting Tomorrow:

UK

 

Crest Nicholson Holdings

Halma

Virgin Money UK

 

US

 

Signet Jewelers

Adobe

 

 

 

In Focus Today:

Chinese Consumer Price Index

Chinese Producer Price Index

German Harmonized Index of Consumer Prices

UK Gross Domestic Product

UK Industrial Production

UK Manufacturing Production

US Consumer Price Index

Fed Interest Rate Decision

Fed Monetary Policy Statement

FOMC Economic Projections

US Interest Rate Projections – 1st year

US Interest Rate Projections – 2nd year

US Interest Rate Projections – Current

US Interest Rate Projections – Longer

US Monthly Budget Statement

FOMC Press Conference

German Buba President Nagel speech

ECB’s Villeroy speech

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 13th June 2024:

 

Intermediate Capital Group

RS Group

Land Securities Group

Compass Group

JD Sports Fashion

Scottish Mortgage Investment Trust

 

 

UK 250 companies going ex-dividend on 13th June 2024:

 

TBC Bank Group

3i Infrastructure

Empiric Student Property

Hollywood Bowl Group

LondonMetric Property

Worldwide Healthcare Trust

SDCL Energy Efficiency Income Trust

 

 

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