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Morning Report - 28 February 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Vodafone Group PLC 68.5 3.6%
Flutter Entertainment PLC 17,045.0 2.1%
Anglo American PLC 1,761.2 2.0%
Sse PLC 1,589.5 1.6%
Antofagasta PLC 1,801.0 1.6%
Yesterday’s UK 100 Laggards Price (p) % Chg
Imperial Brands PLC 1,737.5 -4.5%
Croda International PLC 4,735.0 -3.4%
Unilever PLC 3,921.5 -1.9%
Informa PLC 811.8 -1.7%
Frasers Group PLC 817.5 -1.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,683 0.0% -2.5%
DOW JONES INDUS. AVG 38,972 -0.3% 19.3%
DAX INDEX 17,556 0.8% 14.3%
NIKKEI 225 39,208 -0.1% 42.9%
S&P/ASX 200 INDEX 7,660 0.0% 5.5%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.55 -0.41%
Brent Crude (ICE) USD/bbl. 83.35 -0.36%
Gold Spot USD/t oz. 2,028 -0.1%
Copper (Comex) USd/lb. 383 -0.5%
The UK 100 called to open flat at 7,683.

1 Day; 2 Years

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Markets Overview:

The UK 100 called to open flat at 7,683.  The UK 100 looks set to open flat on Wednesday following a mixed Wall Street trading session overnight.   The S&P inched up 0.17% to 5,078.18. The Nasdaq added 0.37% to end at 16,035.30. The Dow Jones fell 96.82 points, or 0.25%, to close at 38,972.41.

 

 

Company News & Broker Comments:

Company News:

Aston Martin Lagonda state they are on track to hit their 40% gross profit margin target this year, after annual losses narrowed more than market expectations on higher prices. They reported an adjusted pretax loss of £171.8m for the year ended Dec 31st, compared with a £451m loss a year earlier.

 

Primary Health Properties reports a FY23 net rental income of £149.3m, up 5.5% YoY from £141.5m. They have increased their FY23 dividend to 6.7p per share, +3.1% YoY. They state that Ireland continues to be the focus of investment in their near future.

 

Reckitt Benckiser missed like-for-like net sales expectations, citing declines in sales of cold and flu season products. They are “confident in the year ahead” and expects like-for-like net revenue growth of 2-4%, with mid-single digit growth for its Health and Hygiene portfolios.

 

St James’s Place posted an annual loss as they took a £426m provision for potential client refunds over historic servicing complaints. They reported a FY loss after tax of £9.9m, compared with a net profit of £407.2m a year earlier.

 

Taylor Wimpey have said they will build fewer homes this year amid persistent weakness in the housing market as they also posted a 49% slump in annual profit, in line with market expectations. Their operating profit for the year ended Dec 31st came in at £470.2m, in line with average analyst forecasts of £469m.

 

Vodafone says they are “engaged extensively with several parties” over Italy operations as they believe Swisscom transaction offers best value, upfront cash and certainty.

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Aston Martin Lagonda Global Holdings

Derwent London

Primary Health Properties*

Reckitt Benckiser

St James Place

Taylor Wimpey

 

US

 

Baidu

Viatris

AMC Entertainment

HP

Salesforce

Snowflake

 

Reporting Tomorrow:

UK

 

CRH

Drax Group

Haleon

Hammerson

Howden Joinary Group

Hunting*

London Stock Exchange Group

Man Group*

Mobico Group

Ocado Group

PPHE Group

Schroders

Serco

Shaftesbury Capital

Spectis

Spire Healthcare*

Vesuvius

Weir Group

 

US

 

Hewlett Packard Enterprise

Zscaler

 

 

In Focus Today:

EU Economic Sentiment Indicator

EU Consumer Confidence

EU Business Climate

US Gross Domestic Product Price Index

US Personal Spending

US Personal Income

US Core Personal Consumption Expenditures

Japanese Retail Trade

 

 

Tomorrow’s Ex-Dividends:

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

 

Barclays

Diageo

 

 

UK 250 companies going ex-dividend on 29th February 2024:

 

 

Diversified Energy Company

Plus500

Ashmore Group

JLEN Environmental Assets Group

North Atlantic Smaller Companies Inv Tst

HICL Infrastructure

Hargreaves Lansdown

LondonMetric Property

Hays

Scottish American Investment Company

Alliance Trust

Genus

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