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Morning Report - 28 May 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Ocado Group PLC 373.8 6.2%
Marks And Spencer Group PLC 299.2 2.3%
Intertek Group PLC 5,025.0 1.4%
Airtel Africa PLC 121.0 1.4%
Phoenix Group Holdings PLC 503.0 1.4%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
National Grid PLC 889.4 -3.7%
Rs Group PLC 740.5 -2.6%
Fresnillo PLC 596.0 -2.2%
Severn Trent PLC 2449.0 -2.2%
Centrica PLC 141.2 -1.9%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,318 -0.3% 9.1%
DOW JONES INDUS. AVG 39,070 0.0% 18.1%
DAX INDEX 18,775 0.4% 17.5%
NIKKEI 225 38,900 0.7% 25.8%
S&P/ASX 200 INDEX 7,788 0.8% 8.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.74 1.31%
Brent Crude (ICE) USD/bbl. 83.13 1.23%
Gold Spot USD/t oz. 2,354 0.9%
Copper (Comex) USd/lb. 482 1.5%
The UK 100 called to open +4 points at 8,322

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +4 points at 8,322. The UK 100 looks set to open higher this morning, the UK bluechip index will be looking to break a four day losing streak.  It was a public holiday in both the US and the UK yesterday, but Asian markets were generally positive. This morning equities in Asia are looking subdued, with mixed moves either side of the flatline.

 

 

Company News & Broker Comments:

Company News:

Bunzl completes the acquisition of Nisbets following clearance by Irish regulators.

 

Intermediate Capital Group report a FY24 pretax profit of £597.8m up from £258.1m YoY. They do note high interest rates and weak economic growth could impact the business in their outlook.

 

Revolution Bars receives a non-binding takeover offer from Nightcap but rejects the proposal.

 

Softcat says market conditions and trading in Q3 were consistent with H1.

 

 

Broker Comments:

Goldman Sachs Downgrades Fevertree to Sell from Neutral (6 Buys / 8 Holds / 1 Sell)

Reporting Today:

UK

 

Intermediate Capital Group PLC

Ithica Energy PLC

 

 

US

 

None

 

 

Reporting Tomorrow:

UK

 

Bank of Georgia PLC

Pets at Home Group PLC

 

US

 

HP

Salesforce

UiPath

 

 

 

In Focus Today:

ECB’s Schnabel speech

Fed’s Bowman speech

Fed’s Mester speech

Eurogroup Meeting

US Housing Price Index

BoE’s Mann speech

Fed’s Kashkari speech

US Consumer Confidence

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 30th May 2024:

 

Coca-Cola HBC AG

Severn Trent

Centrica

Intertek Group

Associated British Foods

Marks and Spencer Group

Sage Group

 

 

UK 250 companies going ex-dividend on 30th May 2024:

 

Hilton Food Group

Keller Group

Great Portland Estates

Hill & Smith

Centamin

Victrex

Britvic

Temple Bar Investment Trust

BlackRock World Mining Trust

Law Debenture Corporation

JTC

JPMorgan Global Growth & Income

SSP Group

Alliance Trust

 

 

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