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Morning Report - 21 January 2025

Yesterday’s UK 100 Leaders Price (p) % Chg
Fresnillo PLC 685.5 2.9%
Anglo American PLC 2,620.5 2.9%
Spirax Group PLC 7,455.0 2.5%
Experian PLC 3,820.0 2.2%
Melrose Industries PLC 580.0 2.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
Rentokil Initial PLC 377.8 -2.2%
Hiscox LTD 1080.0 -2.2%
Beazley PLC 833.5 -1.5%
Pearson PLC 1270.5 -1.4%
Londonmetric Property PLC 181.0 -1.4%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,521 0.2% 14.2%
DOW JONES INDUS. AVG 43,488 0.8% 14.9%
DAX INDEX 20,990 0.4% 26.8%
NIKKEI 225 39,028 0.3% 8.5%
S&P/ASX 200 INDEX 8,402 0.7% 13.2%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 77.24 -0.82%
Brent Crude (ICE) USD/bbl. 79.86 -0.36%
Gold Spot USD/t oz. 2,724 0.6%
Copper (Comex) USd/lb. 429 -1.8%
The UK 100 called to open +7 points at 8,527

1 Day; 2 Year

Click graph to enlarge

Markets Overview:

The UK 100 called to open +7 points at 8,527.  The UK 100 looks set to open slightly higher today.

Data out this morning showed the UK’s unemployment rate rose to 4.4% in the three months to November, up from 4.3% previously and the highest level since May.  Average earnings including bonuses increased 5.6% on an annual basis in the quarter to November, up from 5.2% but broadly in line with City forecasts.

Asia markets have seen robust trading while the dollar has recovered some of the ground lost on the day of Donald Trump’s inauguration.

 

Company News & Broker Comments:

Company News:

Abrdn, the FTSE 250-listed fund management group, posted an uptick in assets under management at the end of last year, despite ending 2024 in negative flow territory.  According to fourth quarter results published by the Edinburgh-headquartered firm on 21 January, assets under management grew 3% over the year to reach £511.4bn at the end of 2024, the result of positive market moves and net inflows across certain business channels.  Abrdn gathered £1.2bn in net inflows between September and the end of December — a reversal from the previous year when a net £5.7bn left the group.  The positive flows weren’t enough to leave Abrdn in positive territory for the whole year. It ended 2024 with £1.1bn of outflows, although this was down on the £17.6bn which was pulled in 2023.  The biggest inflows were registered across Abrdn’s Interactive Investor business, which gathered £1.4bn during the final quarter, taking total net inflows for the year to £5.7bn —almost double the amount achieved in 2023.

 

Kier Group has announced a positive trading update for the first half of the financial year, with trading in line with expectations and a robust order book valued at approximately £11 billion. The company has secured significant contracts, including projects with Yorkshire Water, the NHS, and the Ministry of Defence, positioning itself to benefit from UK government and regulated industry infrastructure spending plans. Additionally, Kier has launched a £20 million share buyback program, reflecting its strong cash generation and capital allocation strategy aimed at maximizing shareholder returns.

 

Marstons today reported total sales were up 3.0% in the 16-week period to 18 January 2025, the pub group’s first quarter, with like-for-like sales rising 2.0%.  There was growth from both food and drink sales, while LFL sales were hit by poor weather conditions in November and January, offset by the strong festive trading.  Chief executive Justin Platt called it a “particularly strong key festive trading period” and a “solid first quarter”.

 

Broker Comments:

No New Broker Comments

 

 

Reporting Today:

UK

 

4imprint Group

Kier Group

Premier Foods

 

US

 

3M Co

Netflix

Reporting Tomorrow:

UK

 

Hochschild Mining

Intermediate Capital Group

Quilter

Wetherspoon (JD)

Easyjet

 

US

 

Abbott Laboratories

GE Vernova

Johnson & Johnson

Procter & Gamble

In Focus Today:

Eurogroup Meeting

UK Average Earnings Including Bonus

UK Claimant Count Change

UK Employment Change

German ZEW Survey – Current Situation

EU ZEW Survey – Economic Sentiment

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 23rd January 2025:

 

Games Workshop Group

UK 250 companies going ex-dividend on 23rd January 2025:

 

Foresight Solar Fund

Victrex

City of London Investment Trust

NB Private Equity Partners

Bankers Investment Trust

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.


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