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Morning Report - 29 October 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Pearson PLC 1,071.5 2.7%
Easyjet PLC 519.6 2.6%
Convatec Group PLC 224.0 2.3%
Halma PLC 2,522.0 2.2%
Barratt Redrow PLC 482.2 2.1%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Lloyds Banking Group PLC 56.1 -2.7%
Endeavour Mining PLC 1818.0 -1.5%
BP PLC 399.1 -1.4%
Shell PLC 2516.0 -1.4%
BT Group PLC 142.8 -1.1%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,286 0.5% 13.6%
DOW JONES INDUS. AVG 42,374 0.6% 30.8%
DAX INDEX 19,532 0.4% 33.0%
NIKKEI 225 38,606 1.8% 24.6%
S&P/ASX 200 INDEX 8,222 0.1% 20.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 67.69 -5.70%
Brent Crude (ICE) USD/bbl. 71.77 -5.63%
Gold Spot USD/t oz. 2,741 -0.3%
Copper (Comex) USd/lb. 436 -0.1%

 

The UK 100 called to open +27 points at 8,312.

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +27 points at 8,312.  The UK 100 looks set to rise again this morning, a day before the budget is revealed, risk sentiment was aided yesterday by a cooling geopolitical situation, this also contributed to the sharp decline in oil prices.

All three major indices advanced yesterday, The S&P gained 0.27% to close at 5,823.52. The Dow Jones added 273.17 points, or 0.65%, to close at 42,387.57. The Nasdaq rose 0.26%, closing at 18,567.19.

Company News & Broker Comments:

Company News:

BP reported stronger-than-expected third-quarter profit.  The oil giant net profit, of $2.3 billion for the July-September period. That beat analyst expectations of $2.1 billion, this is however the lowest in almost four years, weighed down by a drop in refining profits and weaker oil trading.  BP also maintained its dividend at 8 cents a share after raising it in the previous quarter. It also kept unchanged the rate of its share buyback programme at $1.75 billion over the next three months.

 

HSBC this morning announced better-than-expected profit for the third quarter on rising wealth and wholesale banking revenue. Third-quarter profit rose 10% to $8.5 billion, ahead of estimates of $7.6 billion, as it benefited from slower-than-expected rate cuts.  HSBC also said it would buy back shares worth up to $3 billion, in addition to a $6 billion buyback programme announced earlier this year.

 

IQE this morning announced that Americo Lemos, Chief Executive Officer, has left the Company with immediate effect.  Mark Cubitt, who joined the IQE Board earlier this month as Chair-elect, will become the Executive Chair of IQE.

 

Serica Energy said this morning that production via the Triton FPSO has been interrupted owing to a problem with the single gas compressor in operation.

Broker Comments:

No New Broker Comments

Reporting Today:

UK

 

BP

C&C Group*

Elementis

HSBC Holdings

 

 

US

 

McDonald’s Corp

PayPal Holdings

Pfizer

Advanced Micro Devices

Alphabet Inc

Mondelez

Snap Inc

Visa Inc

Reporting Tomorrow:

UK

 

Aston Martin Lagonda Global Holdings

GSK

Glencore

Next

Standard Chartered

 

US

 

AbbvVie

Amgen

Automatic Data Processing

Caterpillar Inc

Eli Lilly and Co

Etsy

Fiverr International

The Kraft Heinz Co

Booking Holdings

Coinbase Global

Lemonade

Meta Platforms

Microsoft Corp

MicroStrategy

Riot Platforms

Starbucks Corp

Teladoc Health

 

 

In Focus Today:

German GfK Consumer Confidence Survey

US Housing Price Index

US Consumer Confidence

US JOLTS Job Openings

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 31st October 2024:

 

Whitbread

 

UK 250 companies going ex-dividend on 31st October 2024:

 

Balfour Beatty

Hilton Food Group

Dunelm Group

Renishaw

PZ Cussons

European Smaller Companies Trust

Tritax Big Box REIT

Edinburgh Investment Trust

VinaCapital Vietnam Opportunity Fund

Bloomsbury Publishing

GCP Infrastructure Investments

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