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Morning Report - 13 December 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Diageo PLC 2,558.5 2.8%
Severn Trent PLC 2,595.0 1.8%
Scottish Mortgage Investment Trust PLC 975.2 1.7%
Barclays PLC 270.7 1.5%
Pershing Square Holdings LTD 3,892.0 1.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Rentokil Initial PLC 398.9 -4.0%
Antofagasta PLC 1702.5 -3.4%
Associated British Foods PLC 2126.0 -3.0%
Fresnillo PLC 679.5 -2.8%
Intermediate Capital Group PLC 2154.0 -2.5%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,312 0.1% 10.1%
DOW JONES INDUS. AVG 43,914 -0.5% 18.4%
DAX INDEX 20,426 0.1% 21.8%
NIKKEI 225 39,470 -1.0% 19.9%
S&P/ASX 200 INDEX 8,296 -0.4% 14.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 70.13 0.16%
Brent Crude (ICE) USD/bbl. 73.48 0.10%
Gold Spot USD/t oz. 2,683 0.1%
Copper (Comex) USd/lb. 423 -0.4%

 

The UK 100 called to open +17 points at 8,328

4 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +17 points at 8,328.  The UK 100 looks set to open marginally higher this morning, the UK economy contracted by 0.1% for a second month in a row during October.  The GDP estimate compares with City forecasts for growth of about 0.1%-0.2%.  The ONS also reported an unexpected decline in industrial production of 0.6%, which compared with hopes for a rebound to growth of 0.3%.

 

Asia markets saw heavy selling today after China’s Central Economic Work Conference failed to announce new stimulus details.  The Shanghai Composite and Hang Seng index are down by around 1.9%.  Japan’s Nikkei 225 has also fallen 1%.

 

Stocks fell Stateside Thursday, weighed down by a hotter-than-expected U.S. inflation report, as tech shares failed to keep the momentum seen earlier in the week.  The tech-heavy Nasdaq slid 0.66%, dipping back below the 20,000 threshold to end at 19,902.84. The broad market S&P shed 0.54% to close at 6,051.25. The Dow Jones lost 234.44 points, or 0.53%, to settle at 43,914.12. It was the 30-stock index’s sixth straight losing day.

 

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Company News & Broker Comments:

Company News:

Tullow Oil PLC late Thursday said it is in early stage talks over a possible takeover bid from Kosmos Energy Ltd.  The Africa-focused oil & gas exploration and production company said it is in preliminary discussions with Kosmos over an all-share bid. Tullow said there can be “no certainty that any offer will be made”.

 

 

Broker Comments:

 

No New Broker Comments

 

Reporting Today:

UK

 

Global Smaller Companies Trust

Henderson European Trust

 

 

US

 

None

Reporting Tomorrow:

UK

 

None

 

US

 

None

In Focus Today:

GfK Consumer Confidence

German Trade Balance s.a.

UK Gross Domestic Product

UK Industrial Production

UK Manufacturing Production

UK Consumer Inflation Expectations

EU Industrial Production s.a.

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 19th December 2024:

 

British American Tobacco

Halma

UK 250 companies going ex-dividend on 19th December 2024:

 

MITIE Group

JPMorgan European Discovery Trust

Templeton Emerging Markets IT

Mercantile Investment Trust

Law Debenture Corporation

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