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Morning Report - 20 August 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Barratt Developments PLC 553.0 3.2%
Burberry Group PLP 707.8 3.1%
Glencore PLC 416.3 3.1%
Fresnillo PLC 547.0 2.8%
Endeavour Mining PLC 1,628.0 2.4%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Hikma Pharmaceuticals PLC 2042.0 -1.4%
Spirax Group PLC 7495.0 -1.0%
BAE Systems PLC 1339.5 -0.8%
Admiral Group PLC 2939.0 -0.7%
Rentokil Initial PLC 483.8 -0.6%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,357 0.6% 15.1%
DOW JONES INDUS. AVG 40,839 0.4% 18.0%
DAX INDEX 18,422 0.5% 18.3%
NIKKEI 225 37,389 -1.8% 18.9%
S&P/ASX 200 INDEX 7,980 0.1% 11.6%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 76.07 -0.76%
Brent Crude (ICE) USD/bbl. 79.03 -0.82%
Gold Spot USD/t oz. 2,503 -0.2%
Copper (Comex) USd/lb. 423 1.1%
The UK 100 called to open -30 points at 8,327

1 Day; 7 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -30 points at 8,327.  The UK 100 looks set to open lower this morning, despite positive sessions from global markets both overnight and this morning, giving up some of the gains made later in the session yesterday.

Stocks advanced on Monday, on Wall Street after a sluggish start to the session building on the market’s comeback as investors started looking ahead to the closely watched Federal Reserve symposium later this week.  The Dow Jones added 236.77 points, or 0.58%, to finish at 40,896.53. The S&P rose 0.97% to close at 5,608.25, while the Nasdaq jumped 1.39% and ended at 17,876.77. The S&P 500 and Nasdaq notched their eighth straight winning day, a first for both indexes in 2024.

In Tokyo, the Nikkei 225 stock index was up 2.1% to 38,156.41, recovering losses after a 1.8% drop the previous day. The yen briefly approached 145 against the U.S. dollar yesterday but then pulled back and traded at 146.94 this morning.  China held its benchmark lending rates unchanged on Tuesday, with the one-year loan prime rate at 3.35% and the five-year LPR at 3.85%.

 

Company News & Broker Comments:

Company News:

 

Antofagasta posted a 5% increase in their HY profit as higher copper prices more than offset lower sales. Their EBITDA for H1 rose to $1.39bn, up from $1.33bn last year, above analyst estimates. They reduced their interim dividend to 7.9 cents down from 11.7 cents.

 

AstraZeneca says Fasenra approved in China for severe eosinophilic asthma.

 

GSK says the US FDA have granted BTD for lung cancer treatment.

 

John Wood Group have reconfirmed their outlook, both for 2024 and 2025, including generating free cash flow in 2025.

 

Weir Group wins a £53m solutions contract for Barrick’s 50% owned Reko Diq project.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Antofagasta

Wood Group (John)

Oxford Instruments*

 

 

US

 

Medtronic

Xpeng

 

Reporting Tomorrow:

UK

 

 

 

 

US

 

Snowflake

Synopsys

Zoom Video Communications

 

 

In Focus Today:

PBoC Interest Rate Decision

German Producer Price Index

EU Core Harmonized Index of Consumer Prices

Fed’s Bostic speech

Fed’s Barr speech

Japanese Exports

Japanese Imports

Japanese Merchandise Trade Balance Total

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 22nd August 2024:

 

Legal & General Group

Schroders

Land Securities Group

Mondi

Imperial Brands

ConvaTec Group

 

 

UK 250 companies going ex-dividend on 22nd August 2024:

 

Investec

International Distribution Services

XPS Pensions Group

Personal Assets Trust

Hammerson

Babcock International Group

St. James’s Place

Shaftesbury Capital

Tritax Big Box REIT

Ibstock

Just Group

Witan Investment Trust

Temple Bar Investment Trust

OSB Group

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