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Morning Report - 14 March 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Antofagasta PLC 1,914.0 5.3%
Glencore PLC 419.2 4.8%
Anglo American PLC 1,937.0 4.6%
Entain PLC 777.0 1.9%
United Utilities Group PLC 1,057.5 1.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
JD Sports Fashion PLC 113.1 -4.1%
Vodafone Group PLC 66.5 -4.0%
Rentokil Initial PLC 479.6 -3.1%
Admiral Group PLC 2,650.0 -3.0%
Rightmove PLC 560.2 -2.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,772 0.3% 1.8%
DOW JONES INDUS. AVG 39,043 0.1% 21.4%
DAX INDEX 17,961 0.0% 17.9%
NIKKEI 225 38,807 0.3% 42.6%
S&P/ASX 200 INDEX 7,714 -0.2% 10.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 79.85 0.16%
Brent Crude (ICE) USD/bbl. 84.17 0.17%
Gold Spot USD/t oz. 2,168 -0.3%
Copper (Comex) USd/lb. 404 -0.6%
The UK 100 called to open -8 points at 7,764

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open -8 points at 7,764.  The UK 100 looks set to slightly lower this morning as the Blue-chip index aims to add a 4th consecutive green session to the week.  It was another disappointing day on Wall Street yesterday, the S&P was lower, pulling back from a record reached in the previous session, as Nvidia cooled off from its red-hot rally.  The broad market index slipped 0.19% to close at 5,165.31, while the Nasdaq lost 0.54% to 16,177.77. The Dow Jones added 37.83 points, or 0.1%, to finish the session at 39,043.32.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca are to buy Amolyt Pharma for up to $1.05bn.

 

Monnpig says their trading performance in FY24 is in line with expectations.

 

Savills posts FY group revenue of £2.24bn, down 3% YoY. They reported a pretax profit of £94.8m and a FY total dividend per share of 22.8p. In 2024 they expect re-financing driven activity and sustainability agenda to be positive for transaction volumes, but the current economic and geopolitical conditions remain uncertain.

 

Shell are to invest $10-15bn between now and end of 2025 in low-carbon energy solutions.

 

Trainline reports that their FY24 revenue and ticket sales are both at the top of or above guidance range. FY24 adjusted EBITDA is to be around 2.3% of net ticket sales vs 2.15-2.25% guidance.

 

Vistry Group said they would build more homes in 2024 than the prior year, buoyed by resilient demand for its affordable homes, after they posted a 2023 profit ahead of market view. They posted an adjusted FY pretax profit of £419.1m for the year ended Dec 31st, beating average analyst estimates of £405.9m.

 

Broker Comments:

JP Morgan places Legal & General on ‘Positive Catalyst Watch’ (4 Buys / 5 Holds / 0 Sells)

Reporting Today:

UK

 

Bridgepoint Group

Empric Student Property

Helios Towers

IG Group Holdings

Moonpig Group

OSB Group

Savills

Trainline

Vistry Group

 

US

 

Adobe

 

Reporting Tomorrow:

UK

 

Volution Group

 

US

 

None

 

 

In Focus Today:

US Producer Price Index

US Retail Sales

US Initial Jobless Claims

US Retail Sales Control Group

 

 

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 14th March 2024:

 

NatWest Group

SEGRO

Anglo American

Haleon

Entain

 

 

UK 250 companies going ex-dividend on 14th March 2024:

 

 

Lancashire Holdings

abrdn

Dunelm Group

Apax Global Alpha

Tritax Big Box REIT

JPMorgan Emerging Markets Invest Trust

Balanced Commercial Property 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.


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