Getting latest data loading
Home / Morning Report / Morning Report – 3rd September 2024

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Morning Report - 3 September 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Rightmove PLC 708.0 27.4%
Barratt Developments PLC 523.0 3.1%
Auto Trader Group PLC 877.0 3.1%
Beazley PLC 765.0 2.0%
Vodafone Group PLC 75.6 1.6%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Rolls-Royce Holdings PLC 464.3 -6.5%
BAE Systems PLC 1324.5 -2.8%
JD Sports Fashion PLC 134.9 -2.3%
Endeavour Mining PLC 1586.0 -1.7%
B&M European Value Retail S.A. 437.5 -1.7%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,364 -0.2% 12.1%
DOW JONES INDUS. AVG 41,563 0.6% 19.3%
DAX INDEX 18,931 0.1% 19.5%
NIKKEI 225 38,631 -0.2% 18.6%
S&P/ASX 200 INDEX 8,104 -0.1% 11.3%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 74.06 0.71%
Brent Crude (ICE) USD/bbl. 77.38 -0.18%
Gold Spot USD/t oz. 2,495 -0.2%
Copper (Comex) USd/lb. 416 -1.1%
The UK 100 called to open +2 points at 8,365

2 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +2 points at 8,365. The UK 100 looks set to open with modest gains today, following a quiet start to September.

In Asia this morning, markets traded broadly lower, Japan’s Nikkei 225 dipped 0.23%. South Korea’s Kospi lost 0.42%, and Hong Kong’s Hang Seng fell 0.48%.

Shanghai Composite declined by 0.44% and the Shenzhen Composite slipped by 0.53%. Australian S&P/ASX 200 dropped 0.10%.

US futures traded marginally lower at time of writing following yesterday’s Labor day holiday.

 

Company News & Broker Comments:

Company News:

 

Ashtead Group reported a 7% increase in group rental revenue for the first quarter ended 31 July on Tuesday, although profits slightly declined compared to the prior year, with adjusted profit before tax at $573m. The FTSE 100 company continued its expansion in North America, adding 33 locations and investing $855m, while maintaining a net debt-to-EBITDA leverage ratio of 1.7x. It also announced chief financial officer Michael Pratt’s retirement in September 2025, with former WestRock finance chief Alex Pease set to succeed him.

 

British paper and packaging company DS Smith, said on Tuesday that an uptick in demand for packaging products has continued into the new financial year and was in line with its management’s expectations.

 

Watches of Switzerland said it was on track to meet annual guidance after trading for the first 18 weeks of the financial year had been in line with expectations. The company on Tuesday said demand for key luxury brands, particularly products on registration of interest lists, remained strong in both the UK and US markets, outstripping supply.

 

 

Broker Comments:

No New broker comments

 

Reporting Today:

UK

 

Ashtead Group

DS Smith

Watches of Switzerland Group

 

 

US

 

Zscaler

 

Reporting Tomorrow:

UK

 

Barratt Developments

Direct Line Insurance Group

M&G

 

 

US

 

GameStop

Hewlett Packard Enterprise

 

 

In Focus Today:

BoE’s Breeden speech

US ISM Manufacturing Employment Index

US ISM Manufacturing New Orders Index

US ISM Manufacturing PMI

US ISM Manufacturing Prices Paid

 

 

This Week’s Ex-Dividends:

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

 

Smith (DS)

Croda International

International Cons Airlines Group

Aviva

Admiral Group

Antofagasta

Prudential

 

 

UK 250 companies going ex-dividend on5th September 2024:

 

Greggs

Rathbones Group

International Workplace Group

Derwent London

JLEN Environmental Assets Group

Empiric Student Property

Ithaca Energy

BlackRock World Mining Trust

BBGI Global Infrastructure S.A.

Assura

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.


Back to Top

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.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.