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Morning Report - 6 June 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Smith & Nephew PLC 1,028.0 3.3%
St. James’s Place PLC 517.8 3.1%
Rentokil Initial PLC 433.8 2.3%
Rightmove PLC 559.2 2.3%
GSK PLC 1,652.0 2.3%
Yesterday’s UK 100 Laggards Price (p) % Chg
B&M European Value Retail S.A. 509.0 -6.6%
Centrica PLC 136.1 -4.3%
JD Sports Fashion PLC 126.8 -4.2%
Mondi PLC 1515.0 -2.0%
Anglo American PLC 2366.1 -1.6%
Major World Indices Price % Chg 1 YEAR
FTSE 100 INDEX 8,246 0.2% 8.1%
DOW JONES INDUS. AVG 38,807 0.3% 15.6%
DAX INDEX 18,576 0.9% 16.2%
NIKKEI 225 38,704 0.6% 19.1%
S&P/ASX 200 INDEX 7,822 0.7% 9.7%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 74.42 0.47%
Brent Crude (ICE) USD/bbl. 78.68 0.34%
Gold Spot USD/t oz. 2,366 0.5%
Copper (Comex) USd/lb. 462 0.3%
The UK 100 called to open +13 points at 8,259

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +13 points at 8,259.  The UK 100 looks set open higher this morning, feeding off the momentum of a strong finish on Wall Street yesterday.  Attention today will turn to the European Central Bank meeting.  The S&P hit a fresh record yesterday adding 1.18% to close at 5,354.03, as Nvidia led major tech stocks higher and slightly weak labor market data gave investors hope the Federal Reserve might move to lower interest rates later this year, a fresh record.  The Nasdaq advanced 1.96% to 17,187.90, also a new record. The Dow Jones trailed a bit as stocks outside of technology underperformed, adding 96.04 points, or 0.25%, to finish the session at 38,807.33.

 

 

Company News & Broker Comments:

Company News:

Antofagasta have signed a $1.5bn investment deal to improve water supply at its Chile mining operations.

 

Fevertree have reiterated their forecast for the year ahead of the key summer trading period as more customers spend on cocktails. They have continued to be the biggest contributor to growth in the carbonated mixer category in the US, while the UK saw strong demand for its mixers for rum, vodka and other spirit drinks.

 

IAG: Pilots at Aer Lingus (part of IAG Group) are balloting for industrial action in a dispute over pay.

 

John Wood Group have decided to engage with Sidara on an improved takeover proposal and grant them access to due diligence materials.

 

Mitie Group have recommended a final dividend of 3p per share and are confident in delivering their medium-term targets and achieving their growth expectations for the year.

 

 

Broker Comments:

No new broker comments

Reporting Today:

UK

 

Mitie Group PLC

 

 

US

 

NIO

DocuSign

 

Reporting Tomorrow:

UK

 

Worldwide Healthcare Trust

 

US

 

None

 

 

 

In Focus Today:

German Factory Orders

EU Retail Sales

US Challenger Job Cuts

ECB Main Refinancing Operations Rate

ECB Monetary Policy Statement

ECB Rate On Deposit Facility

US Initial Jobless Claims

ECB Press Conference

 

 

This Morning’s Ex-Dividends:

UK 100 companies going ex-dividend on 6th June 2024:

 

Vodafone Group

National Grid

Sainsbury (J)

WPP

Informa

 

 

UK 250 companies going ex-dividend on 6th June 2024:

 

Marshalls

Computacenter

Assura

IntegraFin Holdings

Energean

Johnson Matthey

AJ Bell

Capital Gearing Trust

Edinburgh Investment Trust

JLEN Environmental Assets Group

Pets At Home Group

Balanced Commercial Property Trust

 

 

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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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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