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Morning Report - 16 April 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Beazley PLC 673.0 2.9%
IMI PLC 1,803.0 2.2%
B&M European Value Retail S.A. 509.8 1.8%
Admiral Group PLC 2,705.0 1.3%
JD Sports Fashion PLC 120.0 1.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
Fresnillo PLC 601.0 -3.5%
BP PLC 528.2 -2.0%
Centrica PLC 130.8 -1.9%
BT Group PLC 105.2 -1.8%
Shell PLC 2,886.0 -1.7%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,966 -0.4% 1.2%
DOW JONES INDUS. AVG 37,735 -0.7% 11.4%
DAX INDEX 18,027 0.5% 14.0%
NIKKEI 225 38,471 -1.9% 35.0%
S&P/ASX 200 INDEX 7,613 -1.8% 3.4%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 85.72 0.36%
Brent Crude (ICE) USD/bbl. 90.38 0.31%
Gold Spot USD/t oz. 2,369 -0.6%
Copper (Comex) USd/lb. 433 -1.2%
The UK 100 called to open -100 points at 7,865.

4 Hours; 6 Months

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Markets Overview:

The UK 100 called to open -100 points at 7,865.  The UK 100 looks set to open sharply lower this morning as tensions between Israel and Iran continue to spook global markets.  On today’s macroeconomic calendar, the UK unemployment rate came in higher than anticipated at 4.2%, when analysts had expected a flat 4%.  Stocks retreated on Wall Street yesterday as rising yields and worries over the conflict in the Middle East overshadowed strong Goldman Sachs earnings and hot retail sales data.  The Dow Jones lost 248.13 points, or 0.65%, to close at 37,735.11. The 30-stock index relinquished an advance of more than 1% seen early in the session to mark its sixth straight losing day, a streak not seen since June. The S&P slipped 1.2% to finish at 5,061.82, despite trading up as much as 0.88% earlier in the session. The Nasdaq tumbled 1.79% to 15,885.02 as Salesforce and other technology stocks dropped.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca says their drug Imfinzi plus chemotherapy has doubled the overall survival rate in some patients.

 

DS Smith agrees to merger offer with International Paper.

 

GSK notes that the FDA has accepted its meningitis vaccine candidate file. They also state that the FDA prescription drug user fee act is set for Feb 2025.

 

Vodafone says Marika Auramo will be their new CEO of Vodafone Business from July 1st.

 

Broker Comments:

Barclays Downgrades Phoenix Group Holdings to Underweight from Overweight (5 Buys / 3 Holds / 1 Sell)

 

HSBC Upgrades Savills to Buy from Hold (1 Buy / 2 Holds / 0 Sells)

 

RBC Upgrades Admiral Group to Outperform from Sector Perform (2 Buys / 7 Holds / 2 Sells)

Reporting Today:

UK

 

IntegraFin Holdings

Ninety One

Oxford Instuments

QinetiQ

 

US

 

Bank of America Corp

Johnson & Johnson

Morgan Stanley

UnitedHealth Group

 

Reporting Tomorrow:

UK

 

Hays

Rio Tinto

Saga

 

US

 

None

 

 

 

In Focus Today:

Fed’s Daly speech

IMF Meeting

Chinese Gross Domestic Product

Chinese Industrial Production

Chinese Retail Sales

UK Average Earnings

UK Claimant Count

UK Employment Change

UK ILO Unemployment Rate

German ZEW Survey – Current Situation

German ZEW Survey – Economic Sentiment

EU ZEW Survey – Economic Sentiment

US Building Permits

US Housing Starts

US Industrial Production

BoE’s Governor Bailey speech

Japanese Exports

Japanese Imports

Japanese Trade Balance

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 18th April 2024:

 

Antofagasta

BAE Systems

Unite Group

Croda International

London Stock Exchange Group

Weir Group

Fresnillo

 

 

UK 250 companies going ex-dividend on 18th April 2024:

 

 

Jupiter Fund Management

Drax Group

Vesuvius

Serco Group

Rotork

Quilter

Rathbones Group

Kier Group

Bridgepoint Group

Dowlais Group

JPMorgan American Investment Trust

Merchants Trust

TwentyFour Income Fund

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