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Morning Report - 20 June 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Smurfit Kappa Group PLC 3,722.0 4.0%
Beazley PLC 694.5 2.0%
Centrica PLC 134.8 1.5%
Anglo American PLC 2,424.5 1.5%
Vodafone Group PLC 71.7 1.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Berkeley Group Holdings (The) PLC 4762.0 -5.0%
Persimmon PLC 1360.2 -3.2%
Barratt Developments PLC 468.8 -2.7%
Segro PLC 894.8 -2.6%
Taylor Wimpey PLC 143.8 -2.5%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,205 0.2% 8.1%
DOW JONES INDUS. AVG 38,835 0.2% 13.2%
DAX INDEX 18,068 -0.4% 11.5%
NIKKEI 225 38,571 0.2% 15.5%
S&P/ASX 200 INDEX 7,770 -0.1% 5.6%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 81.47 -0.12%
Brent Crude (ICE) USD/bbl. 85.07 -0.30%
Gold Spot USD/t oz. 2,328 -0.1%
Copper (Comex) USd/lb. 445 0.4%

 

The UK 100 called to open +16 points at 8,215.

4 Hours; 2 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +16 points at 8,215. UK 100 is called to open higher on Thursday ahead of the Bank of England Interest rate decision today at 12pm, where they are expected to hold rates at 5.25%. In Asia shares were largely lower with Shanghai closing -0.3%, Hong Kong -0.6% and Tokyo +0.1%. The US were closed for their Juneteenth holiday.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca celebrates the approval of Truqap plus Faslodex in EU for forms of breast cancer.

 

DS Smith reports a FY24 pretax profit of £503m, down from £661m YoY. Their dividend is unchanged as they note weak consumer demand environment and high inflation in FY24. They state the positive trends in packaging volumes from H2 continued into current FY25.

 

Phoenix Group says they have reduced their debt by £250m.

 

Sainsbury’s sells their core banking business to NatWest, which includes Sainsbury’s bank personal loan, credit card and retail deposits portfolio. The sales will return £250m in excess capital to Sainsbury’s.

 

Tate & Lyle proposes a merger with CP Kelco which is worth $1.8bn.

 

 

Broker Comments:

Berenberg Downgrades SSP Group to Hold from Buy (9 Buys / 2 Holds / 0 Sells)

 

UBS Downgrades Ryanair to Neutral from Buy (4 Buys / 1 Hold / 0 Sells)

 

UBS Upgrades Land Securities to Buy from Neutral (7 Buys / 7 Holds / 2 Sells)

Reporting Today:

UK

 

DS Smith PLC

Sycona Ltd

Urban Logistics REIT PLC

 

 

US

 

Accenture

 

Reporting Tomorrow:

UK

 

None

 

US

 

None

 

 

 

In Focus Today:

PBoC Interest Rate Decision

Eurogroup Meeting

EU Economic Bulletin

BoE Asset Purchase Facility

BoE Interest Rate Decision

BoE Minutes

BoE MPC Vote

BoE Monetary Policy Report

US Building Permits

US Housing Starts

US Initial Jobless Claims

US Philadelphia Fed Manufacturing Survey

EU Consumer Confidence

UK GfK Consumer Confidence

 

 

This Morning’s Ex-Dividends:

UK 100 companies going ex-dividend on 20th June 2024:

 

United Utilities Group

Persimmon

Airtel Africa

3i Group

Experian

 

 

UK 250 companies going ex-dividend on 20th June 2024:

 

British Land Company

Tate & Lyle

Mercantile Investment Trust

Templeton Emerging Markets IT

AVI Global Trust

MITIE Group

Patria Private Equity Trust

Fidelity China Special Situations

 

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