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Morning Report - 27 March 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Marks And Spencer Group PLC 264.4 4.1%
Kingfisher PLC 249.3 4.1%
Jd Sports Fashion PLC 113.8 3.4%
Standard Chartered PLC 696.2 3.1%
Ocado Group PLC 466.2 3.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
Auto Trader Group PLC 706.8 -4.8%
Beazley PLC 668.9 -1.9%
Rio Tinto PLC 4,921.5 -1.8%
Croda International PLC 4,861.0 -1.6%
Experian PLC 3,448.0 -1.5%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,931 0.2% 6.2%
DOW JONES INDUS. AVG 39,282 -0.1% 21.1%
DAX INDEX 18,384 0.7% 21.5%
NIKKEI 225 40,763 0.9% 48.4%
S&P/ASX 200 INDEX 7,820 0.5% 12.3%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 80.83 -0.97%
Brent Crude (ICE) USD/bbl. 85.38 -1.01%
Gold Spot USD/t oz. 2,180 0.1%
Copper (Comex) USd/lb. 400 -0.3%
The UK 100 called to open -4 points at 7,927.

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open -4 points at 7,927.   The UK 100 looks set to open broadly flat this morning, giving back 4 points at the latest futures prices. This comes after an all-red session on Wall Street yesterday, The S&P fell for a third consecutive session on Tuesday.  The broader market index slid 0.28% to close at 5,203.58, while the Nasdaq lost 0.42%, finishing at 16,315.70. The Dow Jones inched down by 31.31 points, or 0.08%, to settle at 39,282.33. The day’s action marked a cooling from last week, when all three indexes closed at a record Thursday and the Dow approached the 40,000 level.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca’s Beyfortus drug has been approved in Japan for the prevention of RSV in infants.

 

Diploma are to acquire aerospace tech company Peerless Aerospace Fastener for £236m.

 

Playtech reports that their 2023 pretax profit has jumped to 235.8m euros, up from 95.6m YoY as their 2023 performance is ahead of expectations.

 

S4 Capital report that their 2023 pretax loss has narrowed to £13.9m, down from £159.7m YoY as they expect clients to remain cautious in the near term.

 

Vanquis Banking Group are continuing to take significant steps in Q1 2024 to redevelop their customer proposition and reset pricing. The group expects to return to modest lending growth from the start of Q2.

 

Broker Comments:

Barclays Downgrades HSBC to ‘Equal Weight’ (8 Buys / 5 Holds / 0 Sells)

 

JP Morgan places IAG on ‘Positive Catalyst watch’ ahead of their Q1 results (7 Buys / 4 Holds / 0 Sells)

 

UBS Upgrades Sainsbury (J)  to Buy from Neutral (1 Buy / 6 Holds / 0 Sells)

Reporting Today:

UK

 

Carnival

Endeavor Mining*

Vanquis Banking Group

 

US

 

None

 

Reporting Tomorrow:

UK

 

International Public Partnership

Capricorn Energy

 

US

 

None

 

 

In Focus Today:

EU Business Climate

EU Consumer Confidence

EU Economic Sentiment Indicator

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 21st March 2024:

 

M&G

Taylor Wimpey

Smith & Nephew

Prudential

Melrose Industries

 

 

UK 250 companies going ex-dividend on 21st March 2024:

 

 

Ithaca Energy

Moneysupermarket.com Group

Primary Health Properties

Fidelity European Trust

Travis Perkins

Volution Group

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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.


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