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Morning Report - 24 July 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Compass Group PLC 2,290.0 4.5%
Rolls-Royce Holdings PLC 460.0 3.8%
Melrose Industries PLC 563.0 2.1%
Beazley PLC 662.0 1.9%
Marks And Spencer Group PLC 325.6 1.8%
Yesterday’s UK 100 Laggards Price (p) % Chg
Glencore PLC 433.4 -2.2%
Anglo American PLC 2184.5 -2.2%
Londonmetric Property PLC 197.0 -2.2%
Airtel Africa PLC 114.6 -2.1%
Prudential PLC 687.4 -1.9%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,167 -0.4% 6.4%
DOW JONES INDUS. AVG 40,358 -0.1% 14.0%
DAX INDEX 18,558 0.8% 14.6%
NIKKEI 225 39,155 -1.1% 20.8%
S&P/ASX 200 INDEX 7,964 -0.1% 9.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 77.36 0.52%
Brent Crude (ICE) USD/bbl. 81.42 0.51%
Gold Spot USD/t oz. 2,418 0.3%
Copper (Comex) USd/lb. 416 -0.1%

 

The UK 100 called to open -43 points at 8,124

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -43 points at 8,124.  The UK 100 looks set to open lower this morning after big tech results failed to live up to expectations in the States overnight, with google’s parent company Alphabet falling by 2% after hours and Tesla dropping by 8%. Focus today will be on PMI data due out at 9.30am.

 

 

Company News & Broker Comments:

Company News:

Aston Martin Lagonda reported a bigger loss for H1 as they made fewer vehicles amid weakness in demand at the high end of the car market. They reported a pretax loss of £216.7m for the six months ended June 30th, compared with a loss of £142.2m reported a year earlier.

 

EasyJet reported a 16% rise in Q3 pretax profit, helped by strong summer travel demand and more customers looking for budget holidays. They posted a pretax profit of £236m for the quarter ended June 30th, compared with £203m reported a year earlier. They state that the outlook for fiscal 2024 is positive, without giving a specific forecast for profit. Demand for air travel has normalised after a post-COVID pandemic boom as travellers baulk at higher prices.

 

Fresnillo says they remain on track to meet their FY guidance.

 

Informa has offered to buy rival Ascential for £1.2bn.

 

Reckitt Benckiser is under pressure from their top shareholders to revisit a sale of its Mead Johnson nutrition business, following litigation and other setbacks at the division. They announce a reorganisation to focus on ‘Powerbrands’.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Aston Martin Lagonda Global Holdings PLC

Breedon Group PLC

Fresnillo PLC

Greencoat UK Wind PLC

Hochschild Mining PLC

Primary Health Properties PLC*

Reckitt Benckiser Group PLC

easyJet PLC

 

 

US

 

AT&T

CME Group

Thermo Fisher Scientific

Ford Motor Co

International Business Machines

Newmont

QuantumScape

ServiceNow Inc

 

Reporting Tomorrow:

UK

 

Airtel Africa PLC*

Anglo American PLC

AstraZeneca PLC

BT Group PLC

British American Tobacco PLC

Centamin PLC

Centrica PLC

Hammerson PLC*

Howden Joinary PLC

IG Group Holdings

ITV PLC

JTC PLC

Lloyds Banking Group PLC

RELX PLC

Rentokil Initial PLC

Unilever PLC

Vodafone Group PLC

 

US

 

AbbVie

GE Vernova

Keurig Dr Pepper

Mastercard

Willis Towers Watson

 

 

In Focus Today:

German GfK Consumer Confidence Survey

Eurogroup Meeting

German HCOB Composite PMI

German HCOB Manufacturing PMI

German HCOB Services PMI

EU HCOB Composite PMI

EU HCOB Manufacturing PMI

EU HCOB Services PMI

UK S&P Global/CIPS Composite PMI

UK S&P Global/CIPS Manufacturing PMI

UK S&P Global/CIPS Services PMI

30-y Bond Auction

US S&P Global Composite PMI

UK S&P Global Manufacturing PMI

US S&P Global Services PMI

US New Home Sales Change

 

 

Tomorrow’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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