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Morning Report - 4 March 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Pearson PLC 1,014.5 5.6%
Endeavour Mining PLC 1,336.0 4.8%
Standard Chartered PLC 695.2 4.1%
Anglo American PLC 1,766.4 3.8%
Natwest Group PLC 246.8 3.2%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Ocado Group PLC 479.1 -6.3%
Melrose Industries PLC 625.2 -1.5%
Hikma Pharmaceuticals PLC 1,938.0 -1.5%
Relx PLC 3,412.0 -1.4%
Whitbread PLC 3,258.0 -1.4%
Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,683 0.7% -3.3%
DOW JONES INDUS. AVG 39,087 0.2% 17.1%
DAX INDEX 17,735 0.3% 13.8%
NIKKEI 225 40,109 0.5% 43.6%
S&P/ASX 200 INDEX 7,736 -0.1% 6.2%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 80.02 0.06%
Brent Crude (ICE) USD/bbl. 83.71 0.19%
Gold Spot USD/t oz. 2,086 0.2%
Copper (Comex) USd/lb. 386 0.0%
The UK 100 called to open -16 points at 7,667.

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open -16 points at 7,667.  The UK 100 looks set to start the week slightly lower thins morning, as attention and focus will start to shift towards Wednesdays Spring budget.  On Wall Street Friday, the Nasdaq Composite rose to an all-time high, surpassing its 2021 record.  The tech-heavy Nasdaq advanced 1.14% to 16,274.94, notching a new high of 16,302.24 during the session. A day earlier, the index closed at its first record since November 2021. The S&P added 0.80% to 5,137.08 for its first close above the 5,100 threshold. The Dow Jones Industrial Average

 

 

Company News & Broker Comments:

Company News:

Aviva acquires Probitas for £242m, including latter’s fully-integrated Lloyd’s platform.

 

 

Clarkson reports a FY pretax profit of £108.8m and a FY dividend of £1.02 per share.

 

 

Ryanair reports that their February traffic numbers increased 5% to 11.1m guests. They operated over 63,000 flights in February as 800 flights were cancelled due to Israel/Gaza conflict.

 

 

Senior anticipates good growth for the group in 2024, in line with expectations. They have declared a final dividend of 1.70p, bringing the FY dividend to 2.30p, up 77%. Supply chain issues are improving as anticipated and they expect further improvement as 2024 progresses and they expect aerospace performance to continue in 2025.

 

 

Wizz Air carries 4.4m passengers in February, up 16% YoY.

 

Broker Comments:

Berenberg Upgrades BT Group to Buy from Hold (8 Buys / 3 Holds / 1 Sell)

 

 

Jefferies Upgrades BP to Buy from Hold (6 Buys / 4 Holds / 0 Sells)

 

 

UBS Upgrades Compass Group to Buy from Neutral (7 Buys / 8 Holds / 1 Sell)

Reporting Today:

UK

 

Clarkson

 

US

 

None

 

Reporting Tomorrow:

UK

 

Ashtead

Bakkavor Group

Fresnillo

Greggs

IWG

Inchcape

Intertek

Keller Group

Rotork

Travis Perkins

 

US

 

NIO

CrowdStrike

 

 

In Focus Today:

EU Sentix Investor Confidence

Tokyo Consumer Price Index

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 7th March 2024:

 

Rio Tinto

HSBC Holdings

Standard Chartered

Berkeley Group Holdings

 

 

UK 250 companies going ex-dividend on 7th March 2024:

 

 

Safestore Holdings

Energean

SDCL Energy Efficiency Income Trust

Assura

PZ Cussons

Law Debenture Corporation

Temple Bar Investment Trust

JPMorgan Global Growth & Income

Ruffer Investment Company

Renishaw

Personal Assets Trust

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