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Morning Report - 5 February 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Rolls-Royce Holdings PLC 310.2 3.8%
Barclays PLC 150.7 3.2%
Sainsbury (J) PLC 275.2 3.0%
Tesco PLC 290.8 2.8%
BT Group PLC 111.4 2.2%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Endeavour Mining PLC 1,357.0 -4.1%
Fresnillo PLC 505.6 -3.1%
Mondi PLC 1,367.5 -2.4%
Anglo American PLC 1,835.6 -2.3%
Ocado Group PLC 505.0 -2.2%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,616 -0.1% -3.6%
DOW JONES INDUS. AVG 38,654 0.4% 13.9%
DAX INDEX 16,918 0.4% 9.3%
NIKKEI 225 36,354 0.5% 32.2%
S&P/ASX 200 INDEX 7,626 -1.0% 0.9%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 72.30 0.03%
Brent Crude (ICE) USD/bbl. 77.45 0.16%
Gold Spot USD/t oz. 2,028 -0.6%
Copper (Comex) USd/lb. 382 0.0%
The UK 100 called to open +16 points at 7,631

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +16 points at 7,631. The UK 100 is expected to start the week on the front foot ahead of a raft of PMI readings.  This comes after the S&P 500 notched a fresh record high on Friday as quarterly results from technology companies including Facebook-parent Meta topped expectations and the January jobs report came in much better than expected.  The broad market index added 1.1% to close at 4,958.61, above its previous record close of 4,927.93 reached on Monday. The Dow Jones added 134.58 points, or 0.4%, to 38,654.42, also a record close. The Nasdaq climbed 1.7% to 15,628.95.

 

 

Company News & Broker Comments:

Company News:

GKP CFO Ian Weatherdon will retire in June and be replaced by COO Gabriel Papineau-Legris.

 

Vodafone have reported a slowdown in service revenue growth in Germany (their biggest market) to 0.3% in Q3, but have stuck with their overall guidance for the year to end-March. They are in “active discussions” about a possible deal in Italy after it rejected a merger offer with rival Iliad in Italy last month. They reiterate their FY24 guidance of an adjusted EBITDA 13.3bn euros.

 

Broker Comments:

Jefferies Upgrades National Grid to Buy from Hold (6 Buys / 6 Holds / 0 Sells)

 

Morgan Stanley Upgrades Land Securities to Overweight from Equal-weight (5 Buys / 8 Holds / 2 Sells)

 

UBS Upgrades Informa to Buy from Neutral (7 Buys / 3 Holds / 0 Sells)

Reporting Today:

UK

 

Vodafone Group

 

US

 

US Average Hourly Earnings

US Nonfarm Payrolls

US Unemployment Rate

Michigan Consumer Sentiment Index

UoM 5-year Consumer Inflation Expectation

US Factory Orders

 

Reporting Monday:

UK

 

BP

Renishaw

Virgin Money

 

US

 

Amgen

Eli Lilly and Co

Spotify Technology SA

Willis Towers Watson

Ford Motor Co

Gilead Sciences

MicroStrategy

 

 

In Focus Today:

Chinese Caixin Services PMI

German Trade Balance s.a.

German HCOB Services PMI

German HCOB Composite PMI

EU HCOB Composite PMI

EU Sentix Investor Confidence

EU Producer Price Index

US S&P Global Composite PMI

US ISM Services New Orders Index

US ISM Services Prices Paid

US ISM Services Employment Index

US ISM Services PMI

US Loan Officer Survey

Japanese Labor Cash Earnings

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 8th February 2023:

 

None

 

 

UK 250 companies going ex-dividend on 8th February 2023:

 

 

Aberforth Smaller Companies Trust

GCP Infrastructure Investments

Bluefield Solar Income Fund

Target Healthcare REIT

Octopus Renewables Infrastructure Trust

LXi REIT

Henderson Smaller Cos Inv Tst

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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