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Morning Report - 26 September 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Rentokil Initial PLC 376.7 4.5%
Fresnillo PLC 619.5 3.4%
Endeavour Mining PLC 1,905.0 3.2%
Smiths Group PLC 1,764.0 2.3%
Easyjet PLC 521.2 2.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
Prudential PLC 642.2 -3.4%
BP PLC 400.3 -2.4%
Persimmon PLC 1641.0 -2.4%
Standard Chartered PLC 763.2 -2.2%
Diageo PLC 2497.5 -2.0%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,269 -0.2% 8.4%
DOW JONES INDUS. AVG 41,915 -0.7% 24.7%
DAX INDEX 18,919 -0.4% 24.0%
NIKKEI 225 38,839 2.6% 20.1%
S&P/ASX 200 INDEX 8,204 1.0% 16.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 67.96 -2.48%
Brent Crude (ICE) USD/bbl. 71.50 -2.67%
Gold Spot USD/t oz. 2,658 0.1%
Copper (Comex) USd/lb. 452 0.6%

 

The UK 100 called to open +50 points at 8,319

4 Hours; 5 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +50 points at 8,319.  The UK 100 looks set to open higher this morning, recovering from yesterdays dip during afternoon trading.

Yesterday Stateside saw the S&P 500 lose 0.19% to close at 5,722.26, while the Dow Jones fell by 293.47 points, or 0.70%, to end at 41,914.75. Both the Dow and S&P had hit fresh records in early trading, but the session snapping a four-day winning streak. The Nasdaq managed to outperform with the narrowest of gain of 0.04%, closing at 18,082.21.  US futures are however higher this morning.

Oil prices dropped sharply on a report that Saudi Arabia is preparing to abandon its unofficial price target of $100 a barrel for Crude as it prepares to increase output.

 

Company News & Broker Comments:

Company News:

 

Diageo this morning said that their expectations are unchanged from when they reported fiscal 2024 preliminary results on 30 July 2024. They say the global environment remains challenging for both our industry and Diageo.  Diageo say consumers continue to be cautious in this environment. They say they have made good progress on our strategic initiatives, including US route-to-market enhancements, and in Nigeria they are progressing well towards completion of the agreement to restructure their business model there. 

 

Halma has reported further progress in the first half of the financial year with strong organic growth and expects an unchanged full-year guidance with an Adjusted EBIT margin of around 21%. The company has successfully completed four acquisitions in its Safety sector, investing a total of approximately £85m, which is expected to fuel medium to long-term growth despite the negative currency translation effects of a stronger Sterling. Halma is scheduled to release its half-year results on November 21, 2024.

 

National Grid announced that it has today completed the sale of its final 20% equity interest in National Gas to a consortium of long-term infrastructure investors led by Macquarie Asset Management.

 

 

Broker Comments:

RBC Raises Experian to Sector Perform from Underperform (11 Buy / 6 Hold / 0 Sell)

Reporting Today:

UK

 

Halma

CVS Group

 

 

US

 

Accenture

Costco Wholesale

 

Reporting Tomorrow:

UK

 

Ceres Power Holdings

 

 

US

 

None

 

 

In Focus Today:

German GfK Consumer Confidence Survey

EU Economic Bulletin

US Core Personal Consumption Expenditures

US Durable Goods Orders

US Gross Domestic Product Annualized

US Initial Jobless Claims

US Nondefense Capital Goods Orders ex Aircraft

US Personal Consumption Expenditures Prices

BoE Monetary Policy Report Hearings

Fed’s Williams speech

US Pending Home Sales

Fed’s Kashkari speech

Tokyo Consumer Price Index

 

 

Today’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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