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Morning Report - 28 August 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Bunzl PLC 3,456.7 7.6%
Easyjet PLC 477.6 6.6%
Anglo American PLC 2,288.0 1.7%
Antofagasta PLC 1,908.5 1.6%
Whitbread PLC 2,894.0 1.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Barratt Developments PLC 519.6 -5.8%
Scottish Mortgage Investment Trust PLC 822.1 -4.8%
Berkeley Group Holdings (The) PLC 4986.0 -4.2%
Jd Sports Fashion PLC 143.2 -4.1%
Persimmon PLC 1640.5 -3.8%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,345 0.2% 13.7%
DOW JONES INDUS. AVG 41,251 0.0% 19.4%
DAX INDEX 18,682 0.4% 18.3%
NIKKEI 225 38,372 0.2% 19.3%
S&P/ASX 200 INDEX 8,071 0.0% 12.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 75.65 0.16%
Brent Crude (ICE) USD/bbl. 79.68 0.16%
Gold Spot USD/t oz. 2,507 -0.7%
Copper (Comex) USd/lb. 426 -1.0%
The UK 100 called to open +30 points at 8,375

2 Hours; 4 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +30 points at 8,375.  The UK 100 looks set to open higher again this morning.

Stateside yesterday saw the S&P rise slightly on Tuesday as investors looked ahead to a major earnings report later this week.  The broad market index gained 0.16% to close at 5,625.80, while the Nasdaq crept 0.16% higher to end at 17,754.82. The Dow Jones rose 9.98 points, or 0.02%, to end at 41,250.50, its second record close in a row.

Focus will today be on earnings released from top artificial intelligence beneficiary Nvidia, due after Wednesday’s closing bell.

Markets in Asia this morning traded broadly lower today, in Japan the Nikkei 225 Index closed the morning session at 38,199.52, down 89.10 points or 0.23 percent, after hitting a low of 38,141.49 earlier. Elsewhere in Asia, New Zealand, China, Hong Kong, Singapore, South Korea and Taiwan were lower by between 0.1% and 1.0% each.

 

Company News & Broker Comments:

Company News:

 

Delaware’s highest court said on Tuesday it will hear an appeal by GSK and other drugmakers seeking to end more than 70,000 lawsuits claiming discontinued heartburn drug Zantac caused cancer.

 

Prudential raised its first interim dividend by 9.3% despite a 66% fall in IFRS attributable pretax profit to $394 million in the first half of 2024 from USD1.18 billion a year before. Adjusted operating profit was $1.54 billion, up 6% from $1.46 billion.  New business profit was down 1% to $1.47 billion from $1.49 billion, but the Asia-focused insurer and asset manager said it saw a pick-up in sales momentum in June, which has continued into the second half of the year. It expects new business profit to grow in all of 2024 in line with its objective for 2022-27 of a 15% to 20% compound annual growth rate.

 

 

 

Broker Comments:

CitiGroup raises Direct Line Group to Buy from Neutral (7 Buy, 10 Hold, 0 Sell)

Reporting Today:

UK

 

Hochschild Mining

Prudential

Puretech Health

 

 

US

 

CrowdStrike Holdings

HP

NVIDIA

Salesforce

 

Reporting Tomorrow:

UK

 

Grafton Group

Hunting

PPHE Hotel Group

 

 

US

 

Lululemon Athletica

MongoDB

 

 

In Focus Today:

Fed’s Bostic speech

 

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 29th August 2024:

 

Diageo

LondonMetric Property

Glencore

Auto Trader Group

InterContinental Hotels Group

 

 

UK 250 companies going ex-dividend on 22nd August 2024:

 

Diversified Energy Company

Dr. Martens

JPMorgan Global Growth & Income

ZIGUP

RHI Magnesita N.V.

Alliance Trust

Centamin

Serco Group

Henderson Smaller Cos Inv Tst

Clarkson

Quilter

PageGroup

Savills

Genuit Group

Dowlais Group

JPMorgan American Investment Trust

Plus500

Bluefield Solar Income Fund

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