This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| Entain PLC | 706.6 | 4.1% |
| Intermediate Capital Group PLC | 2,152.0 | 2.3% |
| Prudential PLC | 613.2 | 2.0% |
| Endeavour Mining PLC | 1,616.0 | 1.9% |
| BT Group PLC | 142.7 | 1.9% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| Rentokil Initial PLC | 380.1 | -20.1% |
| Howden Joinery Group PLC | 938.5 | -1.8% |
| Vistry Group PLC | 1343.0 | -1.8% |
| Mondi PLC | 1401.0 | -1.8% |
| Berkeley Group Holdings (The) PLC | 4889.5 | -1.8% |
| Major World Indices | Price | % Chg | 1 Year |
| UK 100 INDEX | 8,194 | -0.2% | 8.9% |
| DOW JONES INDUS. AVG | 40,862 | 0.3% | 17.9% |
| DAX INDEX | 18,330 | 0.4% | 16.6% |
| NIKKEI 225 | 36,893 | 3.6% | 12.4% |
| S&P/ASX 200 INDEX | 8,071 | 1.0% | 11.7% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 67.96 | 0.97% |
| Brent Crude (ICE) | USD/bbl. | 71.35 | 1.05% |
| Gold Spot | USD/t oz. | 2,520 | 0.3% |
| Copper (Comex) | USd/lb. | 419 | 1.1% |
Click graph to enlarge
The UK 100 called to open +105 points at 8,298. The UK 100 looks set to open higher this morning, following global markets higher after yesterday’s inflation data from the US was digested by traders.
On Wall Street yesterday, the S&P gained 1.07% to close at 5,554.13. Wednesday marked the first time since October 2022 that the broad market index dropped 1% on an intraday basis and then closed higher by more than 1%.
The 30-stock Dow Jones added 124.75 points, or 0.31%, to end at 40,861.71. At its low, the blue-chip index lost as much as 743.89 points. The Nasdaq added 2.17%, wiping out its earlier losses to close at 17,395.53.
Stocks in Asia rose this morning for the first time this week, as a tech-fueled rally on Wall Street spread across the region.
Fevertree Drinks cut its annual revenue growth forecast on Thursday as the tonic and cocktail mixer maker faced wet weather in the UK and Europe at the start of its key summer season. The company expects revenue growth of about 4% to 5% across the full year, down from previous expectations of growth of about 10%.
GSK announced it has reached a settlement in the Dixon case in the State Court of Illinois, which involved a patient who claimed he developed prostate cancer through the use of the drugmaker’s medication Zantac. Under the terms of the settlement, the company admits no liability. Financial terms were undisclosed. Zantac was a heartburn drug that was pulled off the market in 2020 at the request of the US Food & Drug Administration, after low levels of a “probable carcinogen” were found in samples. The carcinogen, known as NDMA, is not harmful in very small amounts. However, tests showed that there were excessive quantities of NDMA in Zantac, otherwise known as ranitidine. Multiple litigations have followed.
Kier Group this morning announced full year results, revenue increased 16% to £3.91b from £3.38b YoY. Pretax profit increases 31% to £68.1m from £51.9m YoY. Also reinstated a Full Year final dividend of 3.48p per share vs nil YoY. Kier’s order book is said to be strong and growing at £10.8b; providing multi-year revenue visibility.
Trainline’s half-year ticket sales jumped higher than expected amid a combination of increased demand for digital tickets and fewer UK rail strikes. The FTSE 250 online retailer raked in just over £3bn in sales in the six months ended 31 August, up 14% year on year. Revenue soared 17% to £229m. Both figures tracked ahead of Trainline’s prior forecast for growth for the financial year 2025 of between 8% to 12% and 7 per cent to 11 per cent, respectively.
Diageo upgraded by Bank of America to Buy from Hold (9 Buy/ 7 Hold/ 5 Sell)
UK
Kier Group
Renishaw
Spire Healthcare Group*
Trainline
US
Signet Jewelers
Adobe
UK
None
US
None
BoE’s Breeden speech
ECB Main Refinancing Operations Rate
ECB Monetary Policy Statement
ECB Rate On Deposit Facility
US Initial Jobless Claims
US Producer Price Index
ECB Press Conference
BoE Monetary Policy Report Hearings
US Monthly Budget Statement
UK 100 companies going ex-dividend on 12th September 2024:
Endeavour Mining
Intertek Group
M&G
UK 250 companies going ex-dividend on 12th September 2024:
Baltic Classifieds Group
Goodwin
Grafton Group
Direct Line Insurance Group
Alpha Group International
International Public Partnerships
Apax Global Alpha
Bakkavor Group
SDCL Energy Efficiency Income Trust
For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.
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.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.