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Morning Report - 27 November 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Melrose Industries PLC 567.7 7.7%
Intertek Group PLC 4,662.0 3.3%
Imperial Brands PLC 2,605.0 1.6%
Scottish Mortgage Investment Trust PLC 948.0 1.4%
WPP PLC 853.4 1.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
Beazley PLC 756.0 -3.6%
Intermediate Capital Group PLC 2054.0 -3.5%
Glencore PLC 378.8 -2.8%
Rentokil Initial PLC 402.7 -2.5%
Lloyds Banking Group PLC 54.4 -2.5%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,259 -0.4% 10.7%
DOW JONES INDUS. AVG 44,860 0.3% 27.0%
DAX INDEX 19,296 -0.6% 20.9%
NIKKEI 225 38,135 -0.8% 13.9%
S&P/ASX 200 INDEX 8,407 0.6% 20.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.78 0.01%
Brent Crude (ICE) USD/bbl. 72.87 0.08%
Gold Spot USD/t oz. 2,645 0.5%
Copper (Comex) USd/lb. 415 0.8%
The UK 100 called to open +11 points at 8,269

4 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +11 points at 8,269. The UK 100 looks set to open moderately higher this morning.

 

This comes after gains yesterday in the US.  Minutes from the Federal Reserve’s November meeting showed confidence that inflation is on track for the bank’s2% target.

 

The Dow Jones advanced 123.74 points, or 0.28%, to close at 44,860.31, reversing course after dropping more than 300 points at session lows. The S&P added 0.57% to 6,021.63. Both the Dow and S&P notched new intraday and closing records. The Nasdaq jumped 0.63% to 19,174.30.

 

Company News & Broker Comments:

Company News:

EasyJet reported a 34% increase in annual profits, reaching £610 million, driven by strong summer performance and strategic initiatives. The airline achieved significant growth in its holiday segment, with profits up by 56%, and plans to increase passenger capacity and holiday customers in the coming year. EasyJet’s positive outlook is underscored by a proposed dividend and a commitment to achieving over £1 billion profit before tax in the medium term.

 

GSK today announced that the European Commission has approved a single-vial, fully liquid presentation of Menveo (Meningococcal Group A, C, W-135 and Y conjugate vaccine, MenACWY vaccine) to help protect against invasive meningococcal disease (IMD) caused by bacterial serogroups A, C, W and Y.

 

JD Sports Fashion this morning announced the completion of its acquisition of Groupe Courir S.A.S today, following receipt of conditional clearance from the European Commission on 22 October 2024 and the satisfaction of all other outstanding conditions.

 

Just Eat Takeaway today revealed its intention to delist from the London Stock Exchange.  It said the move will “reduce the administrative burden, complexity and costs associated with the disclosure and regulatory requirements of maintaining the LSE listing”.  The online food delivery business also referred to the low liquidity and trading volumes of its London-listed shares.

 

Broker Comments:

Segro downgraded by Barclays to Equal weight (9 Buy/ 6 Hold/ 0 Sell)

Reporting Today:

UK

 

Johnson Matthey

Pennon Group

Pets at Home Group

 

 

US

 

None

Reporting Tomorrow:

UK

 

Foresight Group Holdings

Dr Martens

 

US

 

None

In Focus Today:

German GfK Consumer Confidence Survey

US Core Personal Consumption Expenditures – Price Index

US Durable Goods Orders

US Gross Domestic Product

US Initial Jobless Claims

US Personal Consumption Expenditures – Price Index

US Personal Income

US Personal Spending

US Pending Home Sales

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 28th November 2024:

 

Imperial Brands

Marks and Spencer Group

United Utilities Group

3i Group

Land Securities Group

Severn Trent

UK 250 companies going ex-dividend on 28th November 2024:

 

Hill & Smith

Bellway

Alliance Witan

Worldwide Healthcare Trust

Fidelity Special Values

Oxford Instruments

AVI Global Trust

FirstGroup

BlackRock World Mining Trust

Ithaca Energy

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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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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