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Morning Report - 29 July 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Natwest Group PLC 361.0 7.0%
Anglo American PLC 2,380.0 5.1%
Intertek Group PLC 5,015.0 4.3%
Burberry Group PLC 747.2 4.2%
Jd Sports Fashion PLC 123.2 3.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
Segro PLC 892.0 -1.7%
Rightmove PLC 560.0 -1.4%
Pershing Square Holdings LTD 3774.0 -1.2%
Hargreaves Lansdown PLC 1098.5 -0.6%
Fresnillo PLC 579.0 -0.5%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,286 1.2% 7.7%
DOW JONES INDUS. AVG 40,589 1.6% 14.5%
DAX INDEX 18,418 0.7% 11.8%
NIKKEI 225 37,667 -0.5% 15.0%
S&P/ASX 200 INDEX 7,921 0.8% 7.0%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 77.16 -1.43%
Brent Crude (ICE) USD/bbl. 81.13 -1.51%
Gold Spot USD/t oz. 2,387 1.0%
Copper (Comex) USd/lb. 412 0.0%

 

The UK 100 called to open +37 points at 8,322.

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +37 points at 8,322.  The UK 100 looks set to open higher this morning ahead of another busy week of corporate earnings and global interest rate meetings. Stocks rallied on Wall Street Friday, as US Markets closed off a turbulent week on a positive note as investors weighed fresh U.S. inflation data, adding to hopes of a rate cut this Thursday when the Federal Reserve announce their decision.  The Dow Jones rocketed 654.27 points higher, or 1.64%, to finish at 40,589.34. The S&P climbed 1.11% to end at 5,459.10, while the Nasdaq gained 1.03% to close at 17,357.88.

 

 

Company News & Broker Comments:

Company News:

AstraZeneca says calquence trials show improvement among lymphocytic leukaemia patients.

 

Cranswick reported higher Q1 revenue, driven by strong demand for its premium ranges and pet products.

 

GSK receives positive EMA CHMP opinion for RSV vaccine in adults aged 50-59.

 

Pearson reported a 4% rise in H1 adjusted operating profit to £250m and said it was on track to meet its expectations for the FY & 2025. Their CEO Omar Abbosh said the group would focus on opportunities in larger and higher growth markets such as early careers and enterprise skilling.

 

 

Broker Comments:

Citigroup Upgrades BAE Systems to Buy (7 Buys / 7 Holds / 0 Sells)

 

Morgan Stanley Downgrades Drax Group to Equal-weight (2 Buys / 1 Hold / 1 Sell)

Reporting Today:

UK

 

Cranswick

Pearson

Smithson Investment Trust

 

 

US

 

McDonald’s Corp

 

Reporting Tomorrow:

UK

 

BP

Barr (AG)*

Bodycote

ConvaTec Group

Croda International

Diageo

Essentra

Games Workshop Group

Glencore

Greggs

Inchcape

Paragon Banking Group

Spectris

St James Place

Standard Chartered

Weir Group

 

US

 

Merck & Co

PayPal Holdings

Pfizer

Procter & Gamble

Advanced Micro Devices

Arista Networks

Lemonade

Microsoft Corp

Mondelez

Pinterest

Starbucks Corp

 

 

In Focus Today:

German Retail Sales

Japanese Unemployment Rate

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 1st August 2024:

 

Reckitt Benckiser Group

Lloyds Banking Group

RELX

 

 

UK 250 companies going ex-dividend on1st August 2024:

 

Telecom Plus

Brunner Investment Trust

MONY Group

BlackRock Throgmorton Trust

Bellevue Healthcare Trust

 

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