This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| Wpp PLC | 820.8 | 6.1% |
| Reckitt Benckiser Group PLC | 4,953.0 | 4.0% |
| Smith (Ds) PLC | 477.4 | 3.1% |
| Barratt Redrow PLC | 485.3 | 2.5% |
| Rentokil Initial PLC | 378.4 | 1.7% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| 3I Group PLC | 3300.0 | -2.5% |
| Anglo American PLC | 2323.5 | -2.4% |
| Smiths Group PLC | 1577.0 | -2.2% |
| Unilever PLC | 4653.0 | -2.2% |
| Endeavour Mining PLC | 1873.0 | -2.0% |
| Major World Indices | Price | % Chg | 1 Year |
| UK 100 INDEX | 8,259 | -0.6% | 11.8% |
| DOW JONES INDUS. AVG | 42,515 | -1.0% | 28.3% |
| DAX INDEX | 19,378 | -0.2% | 30.2% |
| NIKKEI 225 | 38,141 | 0.1% | 22.8% |
| S&P/ASX 200 INDEX | 8,206 | -0.1% | 19.7% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 71.62 | 1.20% |
| Brent Crude (ICE) | USD/bbl. | 75.75 | 1.05% |
| Gold Spot | USD/t oz. | 2,728 | 0.5% |
| Copper (Comex) | USd/lb. | 436 | 0.5% |
Click graph to enlarge
The UK 100 called to open +24 points at 8,303. The UK 100 looks to open on the front foot this morning, early indications see the blue-chip index regaining some of yesterdays losses.
Stocks fell on Wall Street, the Dow Jones suffering its worst trading day in over a month. The S&P fell by 0.92%, closing at 5,797.42. The Dow Jones gave up 409.94 points, or 0.96%, ending the day’s session at 42,514.95. The Nasdaq lost 1.6%, ending at 18,276.65.
In after-hours trading, Tesla surged 12% after the electric vehicle manufacturer beat the Street’s profit expectations as it delivered its third quarter numbers.
Anglo American on Thursday posted double-digit falls in its third quarter copper and diamond production but kept its 2024 guidance unchanged for both. Anglo said its copper output fell 13% in the third quarter while rough diamond production decreased by 25% on cuts due to prolonged lower demand.
Bunzl reported a 5.4% growth in group revenue for Q3 2024, driven by acquisitions and a modest increase in North American volume. The company’s recent acquisitions, including Cermerón and Cubro Group, enhance its regional and healthcare market offerings. Bunzl’s commitment to investing £700 million annually in acquisitions and share buybacks.
Barclays reported £1.6 billion ($2 billion) net profit for the third quarter, beating expectations. The result compared with the £1.17 billion net profit forecast in an LSEG poll of analysts, and was 23% higher than the same period in 2023. Barclays also upgraded its forecast for net interest income for the year, saying it now expects to make more than 11 billion pounds rather than a previous target.
Dunelm reported a 3.5% increase in total sales to £403 million for the first quarter of FY25, driven by volume growth and a solid digital sales uplift. Despite volatile market conditions, Dunelm continues to gain market share and remains optimistic about its strategic initiatives
The London Stock Exchange Group has posted an 8.5% profit bump in the third quarter. LSEG said all its divisions contributed to its growth, with its capital markets business up 22% and its equities business up 8.5%. The group said the London Stock Exchange had “continued to gain share against a backdrop of strong market activity”.
RELX reported 7% underlying revenue growth for the first nine months of 2024. The company anticipates continued growth in revenue and adjusted operating profit for the full year, with notable contributions from its analytics and decision tools. The Exhibitions segment showed remarkable 13% growth, bolstered by favourable market conditions and digital initiatives.
Unilever achieved slightly better than expected underlying quarterly sales after winning back more shoppers with product innovations and slower price increases. The consumer goods giant said on Thursday it was keeping its full-year outlook for 3-5% underlying sales growth and an underlying operating margin of at least 18%. The maker of Dove soap and Hellmann’s condiments reported a 4.5% rise in third-quarter underlying sales, beating analysts’ average forecast of a 4.2% increase, according to a company-provided consensus. Underlying price growth for the quarter was 0.9% while underlying volume sales growth was 3.5%. Analysts had expected a 1% increase in prices and a 3.2% rise in volumes.
No New Broker Comments
UK
Anglo American
Barclays
Bloomsbery Publishing
Bunzl
Dunelm Group
Essentra*
Inchcape
London Stock Exchange Group
RELX
Renishaw
Softcat*
Unilever
W.A.G Payment Solutions
abrdn
US
Keurig Dr Pepper
UK
Airtel Africa*
Natwest Group
US
Aon
IMF 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
US Initial Jobless Claims
BoE’s Mann speech
BoE Monetary Policy Report Hearings
US S&P Global Composite PMI
US S&P Global Manufacturing PMI
US S&P Global Services PMI
US New Home Sales Change
UK GfK Consumer Confidence
Tokyo Consumer Price Index
UK 100 companies going ex-dividend on 24th October 2024:
BAE Systems
UK 250 companies going ex-dividend on 24th October 2024:
Morgan Advanced Materials
Marshalls
Foresight Solar Fund
City of London Investment Trust
Kier Group
Pacific Horizon Investment Trust
Bankers Investment Trust
Wetherspoon (JD)
Brunner Investment Trust
Games Workshop Group
Sequoia Economic Infrastructure Inc Fund
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.
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.