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Morning Report - 15 February 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Coca-Cola Hbc AG 2,379.0 7.8%
Persimmon PLC 1,412.5 3.8%
Frasers Group PLC 831.0 3.1%
JD Sports Fashion PLC 108.5 2.9%
BT Group PLC 105.0 2.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Entain PLC 936.4 -3.8%
Fresnillo PLC 465.8 -1.3%
Endeavour Mining PLC 1,267.0 -1.2%
Centrica PLC 134.4 -0.9%
United Utilities Group PLC 1,018.5 -0.8%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,568 0.8% -5.4%
DOW JONES INDUS. AVG 38,424 0.4% 12.6%
DAX INDEX 16,945 0.4% 9.3%
NIKKEI 225 38,158 1.2% 38.8%
S&P/ASX 200 INDEX 7,606 0.8% 3.5%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 76.43 -0.27%
Brent Crude (ICE) USD/bbl. 81.42 -0.22%
Gold Spot USD/t oz. 1,993 0.1%
Copper (Comex) USd/lb. 371 0.2%
The UK 100 called to open +28 points at 7,596

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +28 points at 7,596.  The UK 100 looks set for a bright start this morning, this comes after data out today, showed the UK has officially entered a technical recession, after GDP declined in the fourth quarter.  Official statistics show a 0.3% decline, worse than economists had expected.  This has seen The pound fall to $1.2557, it had been trading at about $1.270 before the announcement. Sterling has been close to steady since November.  Stocks rose Wednesday on Wall Street, as markets clawed back some of the steep losses suffered in the previous session.  The S&P advanced 0.96% to finish at 5,000.62, while the Nasdaq climbed 1.3% to settle at 15,859.15. The Dow Jones added 151.52 points, or 0.4%, closing at 38,424.27.

 

 

 

Company News & Broker Comments:

Company News:

Centrica reported a drop in annual profit, dented by lower seasonal demand in H2 and as lofty gains from an exceptionally high comparative period in 2022 narrowed down. They posted an adjusted operating profit of £2.8bn, compared with £3.3bn a year earlier.

 

GSK completed the acquisition of Aiolos Bio for $1bn upfront and $400m in milestone payments.

 

JET2 says their winter 2023/24 forward bookings performed well, passenger sectors booked up 17%. They have upped their FY24 pretax profit guidance to between £510-525m, up from £480-520m previously.

 

RELX state they expect to see another strong performance this year as they reported 13% growth in adjusted operating profit to £3.03bn in 2023.

 

 

 

Broker Comments:

CitiGroup Upgrades Kingfisher to Buy from Neutral (2 Buys / 8 Holds / 3 Sells)

 

Jefferies Downgrades Kingfisher to Hold from Buy (2 Buys / 8 Holds / 3 Sells)

Reporting Today:

UK

 

Centrica

RELX

 

US

 

Deere & Co

Applied Materials

Coinbase Global

Liberty Global

The Trade Desk

 

Reporting Tomorrow:

UK

 

Bank of Georgia*

Natwest Group

Segro

TBC Bank Group

 

US

 

None

 

 

In Focus Today:

UK Industrial Production

UK Gross Domestic Product

UK Manufacturing Production

US NY Empire State Manufacturing Index

US Retail Sales

US Philadelphia Fed Manufacturing Survey

US Initial Jobless Claims

US Retail Sales Control Group

US Industrial Production

 

 

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 15th February 2024:

 

Imperial Brands

BP

Shell

Pershing Square Holdings

 

 

UK 250 companies going ex-dividend on 15th February 2024:

 

 

NextEnergy Solar Fund

Greencoat UK Wind

UK Commercial Property REIT

Murray Income Trust

Impax Environmental Markets

ICG Enterprise 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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