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Morning Report - 2 December 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Anglo American PLC 2,520.5 5.4%
IMI PLC 1,820.0 3.3%
Rolls-Royce Holdings PLC 558.6 2.4%
Next PLC 10,080.0 2.2%
Antofagasta PLC 1,702.5 1.8%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Bae Systems PLC 1227.0 -4.9%
Jd Sports Fashion PLC 101.8 -1.6%
Berkeley Group Holdings (The) PLC 4148.0 -1.5%
Prudential PLC 641.8 -1.4%
Vodafone Group PLC 70.9 -1.1%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,287 0.1% 10.1%
DOW JONES INDUS. AVG 44,911 0.4% 23.9%
DAX INDEX 19,626 1.0% 19.7%
NIKKEI 225 38,513 0.8% 15.2%
S&P/ASX 200 INDEX 8,448 0.1% 19.4%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.55 0.81%
Brent Crude (ICE) USD/bbl. 72.39 0.77%
Gold Spot USD/t oz. 2,630 -0.5%
Copper (Comex) USd/lb. 411 -0.7%
The UK 100 called to open +2 points at 8,289

4 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +2 points at 8,289.  The UK 100 looks set to open broadly flat this morning.

 

Markets in Asia were trading higher this morning after China manufacturing figures beat expectations with the best performance since June.  The Caixin China General Manufacturing index reading of 51.5 compared with October’s 50.3.  The upturn in factory output helped boost the Shanghai Composite by 1%, while the Hang Seng index stands 0.4% higher.

 

On Friday The Dow Jones and S&P rose to new heights on Friday amid a shortened trading day that capped a strong month for equities.  The S&P added 0.56% to 6,032.38, while the Nasdaq jumped 0.83% to 19,218.17.The Dow climbed 188.59 points, or 0.42%, to end at 44,910.65.

 

Company News & Broker Comments:

Company News:

Dan Finley, boohoo Group Chief Executive Officer, said: “Following the conclusion of the recently announced oversubscribed placing we are today pleased to announce the repayment of £50m of our term loan. The repayment will be made with funds raised from the placing and through the Group’s initiative to reduce stock levels as we become a leaner and lighter business, focused on maximising value for all our shareholders. The Board would like to thank our banking syndicate for their continued support.”

 

Broker Comments:

Barratt Redrow Upgraded by RBC to Outperform from Sector Perform (12 Buy/ 5 Hold/ 0 Sell)

 

Persimmon Downgraded by RBC to Underperform from Sector Perform (8 Buy/ 9 Hold/ 1 Sell)

 

Vistry Downgraded by RBC to Underperform from Sector Perform (5 Buy/ 7 Hold/ 3 Sell)

Reporting Today:

UK

 

None

 

 

US

 

Zscaler

Reporting Tomorrow:

UK

 

Discoverie Group

Paragon Banking Group

SSP Group

Victrex

 

US

 

Salesforce

In Focus Today:

Chinese Caixin Manufacturing PMI

German HCOB Manufacturing PMI

EU Sentix Investor Confidence

ECB’s President Lagarde speech

EU Unemployment Rate

US ISM Manufacturing PMI

Fed’s Williams speech

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 5th December 2024:

 

Next

Intermediate Capital Group

British Land Company

LondonMetric Property

UK 250 companies going ex-dividend on 5th December 2024:

 

Babcock International Group

CMC Markets

Foresight Environmental Infrastructure

Asia Dragon Trust

Caledonia Investments

Telecom Plus

Pets At Home Group

Johnson Matthey

Energean

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.


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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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