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Morning Report - 28 November 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Airtel Africa PLC 105.0 5.2%
Vistry Group PLC 675.0 2.7%
Londonmetric Property PLC 194.3 2.3%
Marks And Spencer Group PLC 384.3 2.2%
Tesco PLC 357.9 2.1%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Entain PLC 783.2 -2.6%
Smith (Ds) PLC 582.0 -2.0%
Kingfisher PLC 248.8 -1.2%
Croda International PLC 3483.0 -1.2%
Whitbread PLC 2843.0 -1.2%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,275 0.2% 11.0%
DOW JONES INDUS. AVG 44,722 -0.3% 26.3%
DAX INDEX 19,262 -0.2% 20.4%
NIKKEI 225 38,349 0.6% 14.8%
S&P/ASX 200 INDEX 8,444 0.5% 20.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.57 -0.22%
Brent Crude (ICE) USD/bbl. 72.68 -0.21%
Gold Spot USD/t oz. 2,637 0.0%
Copper (Comex) USd/lb. 414 -0.1%
The UK 100 called to open +11 points at 8,283

4 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +11 points at 8,283.  The UK 100 looks set to open marginally higher this morning.

 

Stateside yesterday saw Inflation jitters halted the strong run for US markets last night, with the Dow Jones Industrial Average down 0.3% after earlier touching 45,000 for the first time.  The S&P index also retreated from record territory with a decline of 0.4%, while the Nasdaq Composite lost 0.6%.

 

US markets are closed today for thanks giving, they will reopen for a half day tomorrow.

 

Company News & Broker Comments:

Company News:

Direct Line Insurance Group has turned down the £3.3 billion takeover bid from its UK-based rival firm Aviva. In a statement, Direct Line described the offer as “highly opportunistic,” asserting that it significantly undervalued the company. Direct Line shares fell by 0.19% on Wednesday, whereas Aviva stock gained 1.6%.

 

Dr Martens has reported half-year results in line with expectations, including an 18% decline in revenues to £324.6 million.  The reduced top line figure and exceptional charges of £9.2 million, largely due to its cost savings plan, led to a loss of £17.9 million.

 

Broker Comments:

Sainsburys Upgraded by JP Morgan to Overweight from Equal weight (8 Buy/ 3 Hold/ 2 Sell)

 

Spirax Upgraded by Exane to Outperform (4 Buy/ 11 Hold/ 2 Sell)

 

SSE Upgraded by Deutsche Bank to Buy from Hold (12 Buy/ 3 Hold/ 1 Sell)

 

Tesco Upgraded by JP Morgan to Overweight from Equal weight (11 Buy/ 2 Hold/ 2 Sell)

Reporting Today:

UK

 

Foresight Group Holdings

Dr Martens

 

 

US

 

None

Reporting Tomorrow:

UK

 

None

 

US

 

None

In Focus Today:

EU Business Climate

EU Consumer Confidence

EU Economic Sentiment Indicator

German Consumer Price Index

Tokyo Consumer Price Index

Japanese Unemployment Rate

 

 

Today’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

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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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