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Morning Report - 18 March 2025

Yesterday’s UK 100 Leaders Price (p) % Chg
Phoenix Group Holdings PLC 580.0 10.7%
International Consolidated Airlines Group S.A. 289.0 4.7%
JD Sports Fashion PLC 74.5 4.6%
Fresnillo PLC 938.0 4.3%
Entain PLC 653.8 3.9%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Tesco PLC 324.2 -12.7%
Marks And Spencer Group PLC 320.7 -9.1%
Sainsbury (J) PLC 232.4 -8.8%
Spirax Group PLC 6,920.0 -2.7%
WPP PLC 621.4 -1.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,680 0.6% 12.4%
DOW JONES INDUS. AVG 41,842 0.9% 7.9%
DAX INDEX 23,155 0.7% 29.1%
NIKKEI 225 37,845 1.2% -4.8%
S&P/ASX 200 INDEX 7,860 0.1% 2.4%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 67.99 0.61%
Brent Crude (ICE) USD/bbl. 71.49 0.59%
Gold Spot USD/t oz. 3,016 0.5%
Copper (Comex) USd/lb. 496 0.0%

 

The UK 100 called to open +27 points at 8,702.

4 Hours; 10 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +27 points at 8,702. The UK 100 looks set to open higher once again this morning, continuing to fight back from last weeks decline.

Stocks rose Stateside on Monday, building on their comeback from a four-week rout on Wall Street exacerbated by President Donald Trump’s chaotic tariff policy rollout and falling consumer confidence.  The S&P gained 0.64% to close at 5,675.12, while the Nasdaq climbed 0.31% and ended at 17,808.66. The Dow Jones also advanced 353.44 points, or 0.85%, to end at 41,841.63. The 30-stock index was bolstered by gains in Walmart and International Business Machines. All three of the major averages posted back-to-back gains.

Asian stock markets are trading mostly higher today, following positive cues from Wall Street overnight.  Traders continued to pick up stocks at reduced levels after recent weakness but remained cautious ahead of the US Federal Reserve’s monetary policy announcement on Wednesday.  While the Fed is widely expected to keep interest rates unchanged, investors are looking for signals in the accompanying statement and projections regarding the outlook for rates.  Meanwhile, the Bank of England, the Bank of Japan, and the Swiss National Bank are also set to announce their monetary policy decisions later in the week.

Japanese stocks are surging on Tuesday, extending their upward momentum from the last two sessions, as the Nikkei 225 moves well above the 37,900 level.  Gains are seen across most sectors, with financials and technology stocks leading the rally.  The benchmark Nikkei Index closed the morning session at 37,943.23, up 546.71 points, or 1.46%, after touching an intraday high of 38,004.20.  The advance follows a strong finish on Monday.  Among major stocks, SoftBank Group is up nearly 1%, while Fast Retailing, the owner of Uniqlo, is adding 1.5%.  Automakers are also performing well, with Honda gaining over 2% and Toyota advancing nearly 3%.

Hong Kong stocks climbed for a second consecutive session on Tuesday, buoyed by hopes that a potential meeting between US President Donald Trump and Chinese President Xi Jinping could ease trade tensions between the two largest economies.  Gains in US-listed Chinese technology stocks overnight also contributed to the upbeat sentiment.  The Hang Seng Index advanced 1.8% to 24,578.14, building on the 0.8% gain from Monday.  The Hang Seng Tech Index saw a sharper rise, climbing 2.4%.  On the mainland, the CSI 300 Index added 0.2%, while the Shanghai Composite Index edged up 0.1%.  Technology stocks led the rally, mirroring strong performances in US markets.

 

Company News & Broker Comments:

Company News:

Close Brothers Group reported a statutory operating loss before tax of £103.8 million for the first half of 2025, primarily due to a £165 million provision related to motor finance commissions. Despite this, the company achieved a pro-forma CET1 capital ratio of 13.4% following the sale of Close Brothers Asset Management, which simplified the group and allowed a sharper focus on its lending business. The group continues to implement cost management initiatives, expecting annualized savings of £25 million by the end of the financial year, and maintains a strong balance sheet with a CET1 ratio significantly above the requirement.

 

Trustpilot Group has announced the initiation of a new share buyback programme, aiming to repurchase up to £20 million worth of its ordinary shares. This move follows previous successful buyback programmes and is part of the company’s strategy to maintain an efficient balance sheet and return excess capital to shareholders. The buyback will be managed by Joh. Berenberg, Gossler & Co. KG, and is intended to reduce the company’s share capital by cancelling all repurchased shares.

Reporting Today:

UK

 

Computacenter (CCC)

Genel Energy (GENL)

Close Brothers Group (CBG)

Trustpilot Group (TRST)

 

US

 

XPeng (XPEV) PMO

 

Reporting Tomorrow:

UK

 

Essentra (ESNT)

M&G (MNG)

Softcat (SCT)

 

US

 

Signet Jewelers (SIG) PMO

In Focus Today:

German ZEW Survey – Current Situation

German ZEW Survey – Economic Sentiment

EU ZEW Survey – Economic Sentiment

US Building Permits

US Housing Starts

US Industrial Production

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 20th March 2025:

 

Hikma Pharmaceuticals

Pearson

Beazley

UK 250 companies going ex-dividend on 20th March 2025:

 

Goodwin

Chemring Group

BlackRock World Mining Trust

Patria Private Equity Trust

HgCapital Trust

Ruffer Investment Company

Law Debenture Corporation

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