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Morning Report - 22 July 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Marks And Spencer Group PLC 319.8 3.0%
Rolls-Royce Holdings PLC 446.1 2.7%
Antofagasta PLC 1,922.0 1.2%
Howden Joinery Group PLC 934.0 1.1%
Diploma PLC 4,270.0 1.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
Burberry Group PLC 697.6 -7.2%
Spirax Group PLC 8450.0 -5.7%
Beazley PLC 651.5 -3.3%
JD Sports Fashion PLC 117.2 -3.1%
Entain PLC 644.2 -3.1%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,156 -0.6% 6.4%
DOW JONES INDUS. AVG 40,288 -0.9% 14.4%
DAX INDEX 18,172 -1.0% 12.3%
NIKKEI 225 40,064 -0.2% 24.0%
S&P/ASX 200 INDEX 7,972 -0.8% 9.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 80.13 -3.25%
Brent Crude (ICE) USD/bbl. 82.63 -2.91%
Gold Spot USD/t oz. 2,401 -1.8%
Copper (Comex) USd/lb. 424 -1.0%

 

The UK 100 called to open +55 points at 8,197

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +55 points at 8,197. UK 100 is set to open higher on Monday after US President Joe Biden ended his re-election bid and threw his weight behind Vice President Kamala Harris and China cut their key interest rate to boost the economy. In the US the major indices sold off assessing the impact of the Tech outage which occurred on Friday with the Dow closing -0.9%, S&P -0.7% and Nasdaq -0.8%. In Asia today Shanghai closed -1%, Hong Kong +0.6% and Tokyo -1.1%.

 

 

Company News & Broker Comments:

Company News:

BT have been fined £17.5m by Ofcom for 999 call-handling failures.

 

Entain names Gavin Isaacs as CEO with effect from September 2nd.

 

Hammerson sells their entire interest in Value Retail for £600m cash.

 

Ocado and Kroger add technological enhancements to customer fulfilment centres to deliver efficiencies and labour productivity.

 

Rentokil Initial: Former CEO of BT Group Philip Jansen is leading a possible takeover offer from private equity firms for Rentokil Initial.

 

Ryanair warns that their passenger fares were down versus the summer of 2023 as their quarterly profit nearly halved. They reported a pretax profit of 400.8m euros for the three months ended June 30th, down 46% from 740.7m euros a year before.

 

Vodafone sells a further 10% stake in Vantage Towers controller Oak Holdings for 1.3bn euros.

 

Broker Comments:

Berenberg Upgrades The Gym Group to Buy from Hold (7 Buys / 2 Holds / 0 Sells)

 

JP Morgan Upgrades Travis Perkins to Overweight from Underweight (4 Buys / 10 Holds / 0 Sells)

Reporting Today:

UK

 

None

 

 

US

 

Verizon Communications

 

Reporting Tomorrow:

UK

 

Compass Group PLC

Mitie Group PLC

Sthree PLC

 

US

 

Coca-Cola

GE Aerospace

General Motors

Philip Morris International

Spotify Technology SA

Alphabet Inc C

Alphabet Inc A

Microsoft Corp

Teladoc Health

Tesla

Visa Inc Class A

 

 

In Focus Today:

PBoC Interest Rate Decision

Eurogroup Meeting

German Buba Monthly Report

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 25th July 2024:

 

SSE

 

 

UK 250 companies going ex-dividend on 25th July 2024:

 

Pennon Group

QinetiQ Group

Foresight Solar Fund

Bankers Investment Trust

City of London Investment Trust

 

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