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Morning Report - 24 September 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Antofagasta PLC 1,825.0 2.1%
Endeavour Mining PLC 1,855.0 1.9%
Kingfisher PLC 328.5 1.8%
Marks And Spencer Group PLC 376.0 1.8%
Haleon PLC 395.4 1.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
B&M European Value Retail S.A. 150.2 -2.6%
Smith (Ds) PLC 364.0 -2.5%
Hikma Pharmaceuticals PLC 4498.0 -1.5%
Halma PLC 221.9 -1.4%
Ashtead Group PLC 2578.0 -1.4%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,260 0.4% 7.5%
DOW JONES INDUS. AVG 42,125 0.2% 24.0%
DAX INDEX 18,847 0.7% 21.1%
NIKKEI 225 37,995 0.7% 17.2%
S&P/ASX 200 INDEX 8,142 -0.1% 14.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.56 0.79%
Brent Crude (ICE) USD/bbl. 75.03 0.72%
Gold Spot USD/t oz. 2,629 0.3%
Copper (Comex) USd/lb. 433 -0.3%
The UK 100 called to open +43 points at 8,303.

4 Hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +43 points at 8,303.  The UK 100 looks set to open higher this morning following on from a strong close to the session on Monday and positive trading across global markets.

On Wall Street yesterday all three major indices navigated a mixed start to trading to end the day in the green.  The S&P added 0.28% to end at 5,718.57 surpassing the broad index’s previous record close in the process.  The Dow Jones gained 61.29 points, or 0.15%, to close at 42,124.65.  The tech heavy Nasdaq was also higher, by 0.14% to end the session at 17,974.27.

Markets in Asia this morning are trading mostly higher, in a continuation of positive sentiment set by US markets.  Traders also seem to be reacting to the several measures announced by the People’s Bank of China to ramp up efforts to boost growth, including interest rate cuts.

 

Company News & Broker Comments:

Company News:

 

British Land announces that Kelly Cleveland, currently Head of Strategy and Investment, has been appointed to a new combined role of Head of Real Estate and Investment.

 

Dunelm Group‘s biggest shareholder WA capital, has placed 10 million shares at 1140p. Barclays, Goldman Sachs and UBS acted as joint bookrunners

 

Galliford Try announces that its Infrastructure business has been appointed to a contract worth £88.9 million to complete the South East Aylesbury Link Road project on behalf of Buckinghamshire Council.

 

Legal & General has announced it has appointed a new Asset Management Chief Executive, Eric Adler will join L&G’s Group Management Committee in December.

 

Smiths Group announced acquisitions of two North American companies for up to £110 million ($146.89 million) on Tuesday, reported a 5% rise in full-year operating profit to £526 million and extended its dividend record to a 73rd year by increasing the payout 5.2% to 43.75p a share.  Smiths, whose operations also span the energy and space and aerospace industries, expects the current financial year to show revenues growth between 4% and 6% and continued margin expansion.  It is acquiring Modular Metal Fabricators and Wattco for a combined purchase price of up to £110 million.

 

 

Broker Comments:

No New broker comments

Reporting Today:

UK

 

Smiths Group

Barr (AG)

The Merchants Trust

Sthree

 

 

US

 

None

 

Reporting Tomorrow:

UK

 

None

 

 

US

 

Micron Technology

 

 

In Focus Today:

German IFO – Business Climate

German IFO – Current Assessment

German IFO – Expectations

US Housing Price Index

US Consumer Confidence

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 26th September 2024:

 

British American Tobacco

Rightmove

Barratt Developments

 

UK 250 companies going ex-dividend on 26th September 2024:

 

Breedon Group

Bank of Georgia Group

Alfa Financial Software Holdings

Computacenter

HgCapital Trust

JTC

Petershill Partners

Mercantile Investment Trust

Ruffer Investment Company

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.


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