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Morning Report - 1 October 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
BP PLC 392.7 1.2%
Shell PLC 2,445.0 0.9%
Hikma Pharmaceuticals PLC 1,911.0 0.8%
Hargreaves Lansdown PLC 1,114.5 0.4%
Next PLC 9,766.0 0.3%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Rightmove PLC 617.4 -7.7%
Smiths Group PLC 1675.0 -4.9%
Intermediate Capital Group PLC 2220.0 -4.8%
Entain PLC 763.2 -3.2%
IMI PLC 1823.1 -3.0%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,237 -1.0% 8.3%
DOW JONES INDUS. AVG 41,978 -0.8% 26.0%
DAX INDEX 19,325 -0.8% 25.6%
NIKKEI 225 37,920 -4.8% 19.0%
S&P/ASX 200 INDEX 8,270 0.7% 17.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.23 0.07%
Brent Crude (ICE) USD/bbl. 71.77 -0.29%
Gold Spot USD/t oz. 2,626 -1.2%
Copper (Comex) USd/lb. 454 -1.4%

 

The UK 100 called to open +38 points at 8,274

1 Day; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +38 points at 8,274.  The UK 100 looks set to open higher this morning, bouncing from late losses yesterday after GDP data earlier in the day showed the UK economy wasn’t growing at the speed hoped, missing expectations by 0.1%.

Stateside yesterday saw a late reversal of losses to see all three major indices end the day in the green, comments from Fed chair Jerome Powell who said more interest rate cuts could be incoming, signally two more quarter percentage point cuts this year if the economy moves as expected.

The Dow Jones gained 17.15 points, or 0.04%, to end at 42,330.15. The S&P added 0.42% and closed at 5,762.48. Both indexes closed at records. The Nasdaq advanced 0.38%, ending at 18,189.17.

 

Company News & Broker Comments:

Company News:

 

Greggs this morning reported a robust third-quarter performance with total sales up by 10.6% and a 5.0% rise in like-for-like sales in company-managed shops. The company is on track to open 140 to 160 new shops in 2024, while also investing in the supply chain, including the development of new distribution centers to support further growth. Despite economic uncertainties, Greggs maintains its full-year outlook and continues to focus on offering value to consumers amidst rising costs.

 

Haleon has agreed to make an off-market purchase of 60,526,315 ordinary shares of £0.01 each of the Company from Pfizer Inc. pursuant to the terms of the share purchase deed entered into between Haleon and Pfizer that was previously approved by Haleon’s shareholders.

 

Rio Tinto & Green lithium to take initial step to develop lithium supply chain commercial partnership.

 

Broker Comments:

No New Broker Comments

Reporting Today:

UK

 

Greggs

 

 

US

 

Nike Inc

 

Reporting Tomorrow:

UK

 

JD Sports Fashion

 

 

US

 

None

 

 

In Focus Today:

German HCOB Manufacturing PMI

EU Harmonized Index of Consumer Prices

BoE’s Pill speech

US ISM Manufacturing PMI

JOLTS Job Openings

Fed’s Bostic speech

Fed’s Cook speech

Fed’s Barkin speech

Fed’s Bostic speech

Fed’s Collins speech

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 3rd October 2024:

 

British American Tobacco

Rightmove

Barratt Developments

 

UK 250 companies going ex-dividend on 3rd October 2024:

 

Centrica

Weir Group

Smith & Nephew

Hargreaves Lansdown

Phoenix Group Holdings

F&C Investment Trust

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