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Morning Report - 3 October 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Prudential PLC 720.4 4.2%
Coca-Cola Hbc AG 2,726.0 3.3%
Standard Chartered PLC 795.4 2.1%
Bae Systems PLC 1,298.5 2.0%
Shell PLC 2,521.0 1.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Jd Sports Fashion PLC 140.4 -6.1%
Easyjet PLC 484.0 -3.5%
Severn Trent PLC 2609.0 -3.0%
Vistry Group PLC 1286.0 -2.9%
United Utilities Group PLC 1037.0 -2.5%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,291 0.2% 11.0%
DOW JONES INDUS. AVG 42,197 0.1% 27.9%
DAX INDEX 19,165 -0.3% 27.0%
NIKKEI 225 38,552 2.0% 23.4%
S&P/ASX 200 INDEX 8,205 0.1% 18.2%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.17 1.53%
Brent Crude (ICE) USD/bbl. 74.91 1.37%
Gold Spot USD/t oz. 2,657 -0.1%
Copper (Comex) USd/lb. 465 0.0%

 

The UK 100 called to open +24 points at 8,314

1 Day; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +24 points at 8,314.  The UK 100 looks set to open higher this morning, extending gains made yesterday as the UK’s bluechip index has started the 4th Quarter on the front foot.

Stateside yesterday saw all three major indices end the day in the green, albeit with small gains as Middle Eastern tensions weighed on sentiment.

The S&P added 0.01% to 5,709.54, while the Nasdaq rose 0.08% to 17,925.12. The Dow Jones added 39.55 points, or 0.09%, to finish at 42,196.52.

 

Company News & Broker Comments:

Company News:

 

Tesco today upgraded profit guidance after volume growth exceeded its expectations in the first half of the financial year.  It now forecasts around £2.9 billion of retail adjusted operating profit for 2024/25, compared with its previous estimate of at least £2.8 billion.  Today’s half-year results showed a 3.5% rise in revenues to £31.5 billion in the six months to 24 August, with retail adjusted operating profit up 9.7% to £1.55 billion.

 

Broker Comments:

Morgan Stanley Downgrades British American Tobacco to Underweight from Overweight (7 Buy / 3 Hold / 1 Sell)

 

Citigroup Downgrades National Grid to Neutral from Buy (12 Buy / 3 Hold / 0 Sell)

Reporting Today:

UK

 

Tesco

 

 

US

 

Constellation Brands

 

Reporting Tomorrow:

UK

 

Wetherspoon (JD)

 

 

US

 

None

 

 

In Focus Today:

German HCOB Composite PMI

German HCOB Services PMI

EU HCOB Composite PMI

US Challenger Job Cuts

US Initial Jobless Claims

BoE Monetary Policy Report Hearings

US S&P Global Composite PMI

US Factory Orders

US ISM Services PMI

Fed’s Bostic speech

Fed’s Kashkari speech

 

 

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 3rd October 2024:

 

British American Tobacco

Rightmove

Barratt Developments

 

UK 250 companies going ex-dividend on 3rd October 2024:

 

Centrica

Weir Group

Smith & Nephew

Hargreaves Lansdown

Phoenix Group Holdings

F&C Investment Trust

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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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