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Morning Report - 23 January 2025

Yesterday’s UK 100 Leaders Price (p) % Chg
Intermediate Capital Group PLC 2,250.0 6.2%
Halma PLC 2,941.0 3.7%
Entain PLC 703.6 3.5%
Aviva PLC 510.2 3.3%
Scottish Mortgage Investment Trust PLC 1,077.0 2.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
Easyjet PLC 488.7 -4.4%
United Utilities Group PLC 973.4 -2.6%
Centrica PLC 135.5 -2.2%
Severn Trent PLC 2477.0 -1.9%
Diageo PLC 2383.5 -1.9%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,545 0.0% 14.2%
DOW JONES INDUS. AVG 44,157 0.3% 16.5%
DAX INDEX 21,254 1.0% 27.8%
NIKKEI 225 39,959 0.8% 9.4%
S&P/ASX 200 INDEX 8,379 -0.6% 11.5%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 75.08 -0.48%
Brent Crude (ICE) USD/bbl. 78.66 -0.43%
Gold Spot USD/t oz. 2,752 -0.2%
Copper (Comex) USd/lb. 425 -1.2%
The UK 100 called to open -20 points at 8,525

1 Day; 3 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open -20 points at 8,525.  The UK 100 looks set to open lower this morning, following a strong showing Stateside yesterday, driven in part by big tech.

Stocks climbed on Wednesday, with the S&P hitting a fresh all-time high, as technology shares such as Oracle and Nvidia rallied on artificial intelligence optimism and President Donald Trump’s new term in office.  The S&P advanced 0.61% after hitting an intraday record of 6,100.81, exceeding the last milestone touched in December before the market pullback. The broad index closed at 6,086.37, slightly below its all-time closing high.  The Nasdaq popped 1.28% to 20,009.34, underscoring the outperformance of tech names. The Dow Jones added 130.92 points, or 0.3%, to 44,156.73, boosted by Procter & Gamble’s gain of nearly 2% on the back of strong earnings.  Stocks surged on strong earnings reports, with Netflix jumping more than 9% after the company surpassed 300 million paid memberships. Its fourth-quarter earnings and revenue also topped analyst expectations.

 

Company News & Broker Comments:

Company News:

Associated British Foods today cut its Primark sales growth forecast after the chain’s UK operation endured a difficult end to 2024.  UK sales in the 16 weeks to 4 January declined 4%, with the like-for-like figure down 6.4%. Its market share decreased slightly to 6.8%.  The performance reflected a weak October and November followed by stronger sales and like-for-like growth in December over the key Christmas trading weeks.

 

THG, which owns the likes of Look Fantastic, MyProtein, and Cult Beauty, has reported a dip in sales for the fourth quarter but said it expects full year adjusted EBITDA to be “in line” with expectations in its first update since demerging its technology platform Ingenuity.  For the fourth quarter to December 31, 2024, THG reported a 2.6% decline in group revenue year on year of £552.4m.

 

 

Broker Comments:

No New Broker Comments

 

 

Reporting Today:

UK

 

Associated British Foods

Harbour Energy

IG Group Holdings

Mitie Group

 

US

 

GE Aerospace

Intuitive Surgical

Reporting Tomorrow:

UK

 

Burberry Group

NCC Group

Paragon Banking Group

 

US

 

American Express

Verizon Communications

In Focus Today:

US Initial Jobless Claims

EU Consumer Confidence

Today’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

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