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Morning Report - 3 December 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Howden Joinery Group PLC 838.5 2.8%
Rolls-Royce Holdings PLC 573.0 2.6%
Spirax Group PLC 7,340.0 2.4%
BAE Systems PLC 1,255.0 2.3%
Beazley PLC 793.0 2.1%
Yesterday’s UK 100 Laggards Price (p) % Chg
Vistry Group PLC 630.5 -3.9%
B&M European Value Retail S.A. 337.8 -2.6%
Unite Group PLC 862.0 -2.3%
British Land Company PLC 381.4 -1.9%
DCC PLC 5625.0 -1.8%
Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 8,313 0.3% 10.4%
DOW JONES INDUS. AVG 44,782 -0.3% 23.6%
DAX INDEX 19,934 1.6% 21.6%
NIKKEI 225 39,249 1.9% 17.4%
S&P/ASX 200 INDEX 8,495 0.6% 20.1%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 68.39 0.43%
Brent Crude (ICE) USD/bbl. 72.18 0.49%
Gold Spot USD/t oz. 2,645 0.2%
Copper (Comex) USd/lb. 417 1.0%

 

The UK 100 called to open +2 points at 8,315

4 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +2 points at 8,315. The UK 100 looks set to open higher this morning, driven by a weaker sterling, benefiting international businesses.

On Wall Street, In the first full session since Thanksgiving, the S&P added 0.24% to close at 6,047.15. The Nasdaq added 0.97% and ended at 19,403.95. Both indexes touched fresh all-time intraday highs and closed at records. The Dow Jones lost 0.29%, or 128.65 points, closing at 44,782.00. The blue-chip index briefly topped the 45,000 level during the day, a key threshold it hit a few times last week.

Asian shares rose, led by tech firms as new US curbs on Chinese access to vital components for chips and AI proved to be less punitive than feared.

 

Company News & Broker Comments:

Company News:

Anglo American completes transaction to add multi-billion tonne Serpentina premium iron ore resource at Minas-Rio

 

Derwent London has announced that it has acquired the remaining 50% stake in its proposed 50 Baker Street W1 scheme from Lazari Investments.

 

Galliford Try, today has announced that it has been appointed to two new commercial contracts in London worth a combined £87 million.

 

Greencore Group this morning reported a robust financial performance for the fiscal year 2024, with a notable increase in both operating profit and profit margins. The company has reintroduced dividends and conducted share buybacks, reflecting its strong balance sheet and commitment to shareholder returns. As Greencore enters FY25, it anticipates further profit growth, supported by efficiency initiatives and strategic operational achievements.

 

Marston’s PLC has reported strong financial results for the fiscal year ending September 28, 2024, with revenue increasing by 3% and like-for-like sales growing by 4.8%. The pub company successfully reduced net debt by £301.7 million and improved both operating and EBITDA margins, driven by strategic initiatives focused on operational efficiencies and a shift to a pure-play hospitality model. The company’s promising performance, bolstered by robust cash flow and a refined strategy, sets a solid foundation for future growth.

 

Broker Comments:

Ashtead Upgraded by RBC to Outperform from Sector Perform (14 Buy/ 5 Hold/ 1 Sell)

 

Reporting Today:

UK

 

Discoverie Group

Paragon Banking Group

SSP Group

Victrex

 

 

US

 

Salesforce

Reporting Tomorrow:

UK

 

None

 

US

 

GameStop

Synopsys

In Focus Today:

UK BRC Like-For-Like Retail Sales

ECB’s Cipollone speech

US JOLTS Job Openings

Fed’s Goolsbee 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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