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Morning Report - 13 March 2025

Yesterday’s UK 100 Leaders Price (p) % Chg
Melrose Industries PLC 518.0 6.5%
Spirax Group PLC 7,140.0 5.8%
Fresnillo PLC 894.5 4.7%
Rolls-Royce Holdings PLC 781.0 4.5%
Intermediate Capital Group PLC 2,090.0 3.4%
Yesterday’s UK 100 Laggards Price (p) % Chg
International Consolidated Airlines Group S.A. 277.6 -4.8%
Associated British Foods PLC 1,847.0 -4.4%
Smith & Nephew PLC 1,096.0 -3.9%
Persimmon PLC 1,194.0 -3.3%
JD Sports Fashion PLC 72.9 -3.2%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,541 0.5% 9.9%
DOW JONES INDUS. AVG 41,351 -0.2% 5.9%
DAX INDEX 22,676 1.6% 26.3%
NIKKEI 225 36,790 -0.1% -4.9%
S&P/ASX 200 INDEX 7,749 -0.5% 0.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 67.71 0.04%
Brent Crude (ICE) USD/bbl. 71.02 0.10%
Gold Spot USD/t oz. 2,935 0.0%
Copper (Comex) USd/lb. 481 -0.8%
The UK 100 called to open -18 points at 8,522

4 Hours; 10 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -18 points at 8,522.  The UK 100 looks set to make a subdued start today, this comes as the pound trades around four month highs against the US Dollar.

Stateside yesterday saw the Nasdaq rise after a softer than forecast inflation report eased concerns about the economy and as investors snapped up beaten-up technology shares.  The tech-heavy benchmark added 1.22% and closed at 17,648.45, while the S&P gained 0.49% to end at 5,599.30. The Dow Jones slipped 82.55 points, or 0.2%, to settle at 41,350.93.  Though the tech sector is off more than 3% week to date, the cohort bounced on Wednesday to lead the S&P higher. Nvidia gained 6.4%, and AMD added more than 4%. Meta Platforms advanced 2% and Tesla jumped more than 7%.

Gold prices are near a record highs at $2940 an ounce, Brent Crude trading at $70.79 a barrel and the pound at a four-month high above $1.29.

 

Company News & Broker Comments:

Company News:

 

Halma has reported good progress in the second half of its financial year, expecting its 22nd consecutive year of record Adjusted profit. The company anticipates an Adjusted EBIT margin slightly above 21% for the full year, supported by strong organic revenue growth and a favourable product mix. Despite a negative currency translation effect due to the appreciation of Sterling, Halma maintains a robust acquisition pipeline and strong cash generation, enabling continued investment. Additionally, Carole Cran will succeed Steve Gunning as CFO on April 1, 2025.

 

Trainline has reported ticket sales at the bottom end of its guidance but announced a share buyback of up to £75 million, as it tried to assuage investor worries about the impending arrival of Great British Rail (GBR).  The ticketing app generated £5.9 million in total ticket sales in the year to the end of February 2025, up 12% on a reported and constant currency basis.  But this was down from the 14% growth in net sales it revealed in October and at the bottom end of the guidance range given at the time.

 

Broker Comments:

No New Broker Comments

 

 

Reporting Today:

UK

 

OSB Group (OSB)

Savills (SVS)

Halma (HLMA)

Trainline (TRN)

 

US

 

DocuSign (DOCU) AMC

 

Reporting Tomorrow:

UK

 

Bodycote (BOY)

Berkeley Group Holdings (BKG)

 

US

 

None

In Focus Today:

EU Industrial Production

US Initial Jobless Claims

US Producer Price Index

US Producer Price Index

 

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 13th March 2025:

 

Endeavour Mining

NatWest Group

Anglo American

Entain

UK 250 companies going ex-dividend on 13th March 2025:

 

Safestore Holdings

Dunelm Group

JPMorgan Emerging Markets Invest Trust

Tritax Big Box REIT

Apax Global Alpha

SDCL Energy Efficiency Income Trust

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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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