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Morning Report - 3 May 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Standard Chartered PLC 753.8 8.5%
Smurfit Kappa Group PLC 3,690.0 6.2%
Scottish Mortgage Investment Trust PLC 858.6 3.0%
Prudential PLC 724.2 2.7%
Flutter Entertainment PLC 15,285.0 2.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Beazley PLC 635.0 -3.6%
Whitbread PLC 2,998.8 -3.2%
Melrose Industries PLC 602.8 -3.0%
Antofagasta PLC 2,124.0 -2.0%
DCC PLC 5,445.0 -2.0%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,172 0.6% 4.9%
DOW JONES INDUS. AVG 38,226 0.9% 14.4%
DAX INDEX 17,897 -0.2% 13.2%
NIKKEI 225 38,236 -0.1% 31.1%
S&P/ASX 200 INDEX 7,629 0.6% 6.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 78.47 -0.67%
Brent Crude (ICE) USD/bbl. 83.07 -0.44%
Gold Spot USD/t oz. 2,306 -0.6%
Copper (Comex) USd/lb. 449 -1.2%
The UK 100 called to open +20 points at 8,192

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +20 points at 8,192.  The UK 100 looks set to open higher this morning having closed at another record high yesterday.  Overnight, Apple picked up as it shrugged off reports of tumbling iPhone sales to post better-than-expected earnings and sales.  Stocks Stateside rallied Thursday as investors looked ahead to more corporate earnings and a key labour report set for later in the week.  The Dow Jones added 322.37 points, or 0.85%, to close at 38,225.66. The S&P gained 0.91% to settle at 5,064.20, while the Nasdaq surged 1.51% to end at 15,840.96.

 

 

Company News & Broker Comments:

Company News:

Diageo names Nik Jhangiani as their new CFO.

 

Future appoint Sharjeel Suleman as their next CFO.

 

Intercontinental Hotels Group report that their Q1 room revenue rose 2.6%, helped by performance in Japan, Australia, Europe and the Middle East.

 

Mondi state that their volumes for the first three months of 2024 were higher than the previous quarter, thanks to improving demand for its products. Their recently announced paper price increases were starting to come through in Q2.

 

Trainline sees 2025 net ticket sales YoY growth of between 8-12%. Their FY net ticket sales increased 22% YoY to £5.3bn, as their FY adjusted EBITDA increased 42% to £122m.

 

 

Broker Comments:

Barclays Downgrades British Land to Equal Weight from Overweight (7 Buys / 5 Holds / 2 Sells)

 

Jefferies Downgrades AJ Bell to Hold from Buy (7 Buys / 5 Holds / 2 Sells)

 

RPT/Jefferies Downgrades Tyman to Hold from Buy (6 Buys / 2 Holds / 0 Sells)

Reporting Today:

UK

 

InterContinental Hotels Group

Mondi

Trainline

 

 

US

 

None

 

 

Reporting Monday:

UK

 

None

 

US

 

Palantir Technologies

Lucid Group

 

 

 

In Focus Today:

EU Unemployment Rate

Fed’s Goolsbee speech

US Average Hourly Earnings

Nonfarm Payrolls

US Unemployment Rate

US S&P Global Composite PMI

US ISM Services PMI

Fed’s Williams speech

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 9th May 2024:

 

HSBC Holdings

Admiral Group

 

 

UK 250 companies going ex-dividend on 9th May 2024:

 

 

Petershill Partners

SThree

Ibstock

Barr (A.G.)

Bellevue Healthcare Trust

Lancashire Holdings

Clarkson

Fidelity Special Values

Balanced Commercial Property Trust

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