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Morning Report - 30 October 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Pearson PLC 1,118.0 4.3%
Fresnillo PLC 778.5 3.4%
HSBC Holdings PLC 713.7 3.1%
Rentokil Initial PLC 386.9 1.7%
Standard Chartered PLC 876.4 1.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
Airtel Africa PLC 101.7 -7.2%
BP PLC 379.3 -5.0%
Jd Sports Fashion PLC 128.1 -3.7%
Imperial Brands PLC 2243.0 -3.2%
Melrose Industries PLC 472.3 -2.9%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,220 -0.8% 12.2%
DOW JONES INDUS. AVG 42,233 -0.4% 28.3%
DAX INDEX 19,478 -0.3% 32.4%
NIKKEI 225 39,277 1.0% 28.0%
S&P/ASX 200 INDEX 8,180 -0.8% 20.8%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 67.71 0.74%
Brent Crude (ICE) USD/bbl. 71.57 0.63%
Gold Spot USD/t oz. 2,785 0.4%
Copper (Comex) USd/lb. 437 0.2%
The UK 100 called to open -32 points at 8,187.

4 Hours; 3 Months

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Markets Overview:

The UK 100 called to open -32 points at 8,187. The UK 100 looks set to open lower again today, ahead of today’s UK Autumn Statement.  This follows a fall yesterday for the UK’s blue chip index.

Stateside yesterday saw the Nasdaq advance 0.78% to a record close of 18,712.75. The S&P added 0.16% to end at 5,832.92. Meanwhile, the Dow Jones underperformed, falling 154.52 points, or 0.36%, to close at 42,233.05.

US futures were higher overnight as earnings season continues, Google’s parent company Alphabet reported after hours, exceeding analysts expectations.  Meta and Microsoft are both scheduled to report today.

Company News & Broker Comments:

Company News:

Aston Martin Lagonda reported a 14% year-over-year increase in Q3 2024 volumes, driven by the ramp-up of new models like the Vantage and DBX707, despite a 4% dip in year-to-date revenue due to portfolio transitions. The company is on track to meet its revised full-year guidance, leveraging strong demand for specialty models and vehicle personalization, which boosted average selling prices by 14% to £250k.

 

Glencore’s third-quarter production report reveals notable sequential improvements in key commodities, including a 13% increase in African copper and a 27% rise in Australian energy coal. Despite a drop in cobalt and nickel production compared to last year, the company’s full-year production guidance remains unchanged, with marketing adjusted EBIT expected to reach the higher end of the $3.0-$3.5 billion range.

 

GSK lowered its 2024 vaccine sales forecast for the second time this year on Wednesday, hit by weak demand for its respiratory syncytial virus (RSV) and shingles vaccines.   The British drugmaker expects 2024 vaccine sales to decrease by low-single digit percentage in turnover. It previously expected the business to grow by a low to mid-single digit percentage.

 

Next said on Wednesday it expected its annual profit to exceed 1 billion pounds ($1.3 billion) as it raised its outlook for the third time in four months.  The group said the upgrade reflected a better-than-expected 7.6% rise in third quarter full price sales, driven by the early arrival of colder weather this year, versus an unusually warm September and early October last year.

 

Standard Chartered announced adjusted pretax profit rose by 37% to $1.8 billion in the quarter, beating the $1.5 billion Bloomberg-compiled analyst estimate.  Standard Chartered also pledged to return at least $8 billion to investors by 2026.

Broker Comments:

No New Broker Comments

Reporting Today:

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

Reporting Tomorrow:

UK

 

Coca-Cola HBC

Haleon

PPHE Hotel Group

Safestore Holdings

Shell

Smith & Nephew

Spectris

 

US

 

Ball Corp

Bristol-Myers Squibb

The Estee Lauder Companies

Mastercard

Merck & Co

Takeda Pharmaceutical

Uber Technologies

Willis Towers Watson

Amazon.com

Apple Inc

Intel Corp

 

 

In Focus Today:

German Unemployment Change

German Unemployment Rate

German Gross Domestic Product

EU Business Climate

EU Consumer Confidence

EU Economic Sentiment Indicator

EU Gross Domestic Product

US ADP Employment Change

US Gross Domestic Product

US Personal Consumption Expenditures Prices

UK Autumn Forecast Statement

German Consumer Price Index

German Harmonized Index of Consumer Prices

US Pending Home Sales

Japanese Retail Trade

 

 

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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