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Morning Report - 29 January 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Croda International PLC 4,756.0 5.3%
Diageo PLC 2,849.0 5.1%
Burberry Group PLC 1,341.5 4.9%
Vodafone Group PLC 70.8 3.9%
St. James’s Place PLC 670.8 3.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Centrica PLC 137.7 -4.6%
SSE PLC 1,698.0 -2.4%
Sainsbury (J) PLC 276.0 -1.9%
Tesco PLC 293.5 -1.8%
Marks And Spencer Group PLC 255.9 -1.7%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,635 1.4% -1.7%
DOW JONES INDUS. AVG 38,109 0.2% 12.2%
DAX INDEX 16,961 0.3% 12.0%
NIKKEI 225 36,027 0.8% 31.6%
S&P/ASX 200 INDEX 7,578 0.3% 1.5%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.37 0.46%
Brent Crude (ICE) USD/bbl. 83.94 0.47%
Gold Spot USD/t oz. 2,032 0.6%
Copper (Comex) USd/lb. 384 -0.3%
The UK 100 called to open +5 points at 7,640

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +5 points at 7,640. The UK 100 is expected to open lower ahead of an important week of interest rate decisions, and after Evergrande was ordered to be wound up.  In Hong Kong, Evergrande shares plunged 21%, before the stock exchange halted trading.  A Hong Kong court on Monday ordered the liquidation of battered Chinese property developer Evergrande, dealing another blow to the firm that has become the symbol of a property crisis that has sent shivers through the economy.  Stateside Friday saw a mixed bag for indices, the S&P inched down by 0.07% to 4,890.97. The Nasdaq slipped 0.36% to 15,455.36, hurt by a post-earnings slide from Intel, The Dow Jones bucked the trend by adding 60.30 points, or 0.16%, to 38,109.43, an all-time closing high. All three major averages are now up more than 100% from their pandemic lows.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca says Enhertu has been granted priority review in US for patients with form of tumours.

 

BT Group: A tribunal is to begin hearing the £1.3bn BT compensation case, in relation to Ofcom in 2017 stating that BT had unfairly charged millions of landline customers from 2015 after an investigation.

 

Ferrexpo says Ferrexpo Poltava Mining will appeal the $125m claim award to the supreme court in Ukraine.

 

GSK says the European Commission has authorised Omjjara for treating splenomegaly.

 

Ryanair has trimmed its profit forecast for the year to the end of March after some online travel agents stopped selling its flights in December, forcing it to cut fares to fill seats. They expect an after-tax profit of between 1.85-1.95bn euros for the year to end-March, down from its November forecast of 1.85-2.05bn euros. They also tell Boeing that they would buy any MAX 10 orders dropped by US airlines.

 

 

Broker Comments:

Berenberg Upgrades IMI Plc to Buy from Hold (6 Buys / 7 Holds / 0 Sells)

 

Jefferies Upgrades Intertek Group to Buy from Hold (7 Buys / 6 Holds / 2 Sells)

 

Peel Hunt Downgrades Wise to Hold from Buy (8 Buys / 4 Holds / 3 Sells)

 

RBC Downgrades Kingfisher to ‘Sector Perform’ from Outperform (2 Buys / 8 Holds / 2 Sells)

Reporting Today:

UK

 

Ryanair

 

US

 

None

 

Reporting Tomorrow:

UK

 

Diageo

Pets at Home Group

SSP Group

SThree

Synthomer PLC

 

US

 

General Motors

Pfizer

Starbucks Corp

Advanced Micro Devices

Alphabet Inc C

Alphabet Inc A

Microsoft Corp

Mondelez

Snap Inc A

 

 

In Focus Today:

Japanese Unemployment Rate

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 29th January 2023:

 

Mondi* (Special cash dividend & share consolidation 10 for 11)

 

 

UK 250 companies going ex-dividend on 2nd February 2023:

 

 

Paragon Banking Group

IG Group Holdings

SSP Group

Edinburgh Investment Trust

Schroder Oriental Income Fund

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