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Morning Report - 24 January 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Standard Chartered PLC 609.0 4.9%
WPP PLC 748.0 2.8%
Ocado Group PLC 576.4 2.6%
Anglo American PLC 1,796.0 2.6%
Rio Tinto PLC 5,419.0 2.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Admiral Group PLC 2,497.7 -2.4%
Rolls-Royce Holdings PLC 301.5 -2.4%
Compass Group PLC 2,121.0 -2.0%
Unite Group PLC 989.5 -1.7%
Bunzl PLC 3,193.0 -1.6%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,494 0.1% -3.8%
DOW JONES INDUS. AVG 37,861 -0.4% 12.8%
DAX INDEX 16,647 -0.2% 10.6%
NIKKEI 225 36,518 -0.1% 33.8%
S&P/ASX 200 INDEX 7,515 0.5% 0.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 74.80 0.05%
Brent Crude (ICE) USD/bbl. 79.95 -0.14%
Gold Spot USD/t oz. 2,027 0.2%
Copper (Comex) USd/lb. 379 0.7%
The UK 100 called to open +33 points at 7,518

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +33 points at 7,518.  The UK 100 looks set to open modestly higher this morning ahead of a raft of PMI data from across the globe today.  This comes after a broadly positive session on Wall Street yesterday, which saw two of the three major US bourses ending the session higher.  The blue-chip Dow slid 96.36 points, or 0.25%, to 37,905.45, retreating below the 38,000 level that was crossed for the first time on Monday. Tuesday’s losses ended a three-day winning streak.  The S&P rose by 0.29% to 4,864.60, a fresh all-time closing high. The technology-heavy Nasdaq advanced 0.43% to 15,425.94.

 

 

Company News & Broker Comments:

Company News:

Abrdn confirms they will cut around 500 jobs to save money.

 

EasyJet expect smaller losses in H1 despite a direct hit of £40m from the conflict in the Middle East. They reported a narrower Q1 loss before tax of £126m, compared with a loss of £133m a year ago.

 

Fresnillo says they have achieved 2023 guidance of 105.1m silver equivalent ounces. Silver production is up 4.7% on year but slightly below expectations.

 

Rio Tinto notes plane crash near Fort Smith in Canada, on the way to its Diavik mine, killing “a number of our people”.

 

Wetherspoon (JD) reported higher sales in the last 25 weeks, lifted by strong demand for its drinks and food during the festive season. They reported a 10.1% growth in like-for-like sales for the 25-week period ended Jan 21st, while the last 12 weeks witnessed an 11.1% jump from a year earlier.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Computacenter

Fresnillo

Hochschild Mining

Quilter

TI Fluid Systems

Wetherspoon (JD)

Paypoint Group

easyJet

 

US

 

AT&T

International Business Machines

ServiceNow Inc

Tesla

Reporting Tomorrow:

UK

 

Britvic

IG Group Holdings

Intermediate Capital Group

Mitie Group

PPHE Hotel Group

St James’s Place

Wizz Air Holdings

 

US

 

Blackstone

Intel Corp

 

 

In Focus Today:

German HCOB Manufacturing PMI

German HCOB Composite PMI

German HCOB Services PMI

EU HCOB Services PMI

EU HCOB Composite PMI

EU HCOB Manufacturing PMI

UK S&P Global/CIPS Manufacturing PMI

UK S&P Global/CIPS Composite PMI

UK S&P Global/CIPS Services PMI

US S&P Global Composite PMI

US S&P Global Manufacturing PMI

US S&P Global Services PMI

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 25th January 2023:

 

None

 

 

UK 250 companies going ex-dividend on 25th January 2023:

 

 

Ferrexpo

Victrex

Sequoia Economic Infrastructure Inc Fnd

Pennon Group

Foresight Solar Fund

City of London Investment Trust

Bankers Investment Trust

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