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Morning Report - 6 September 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Vistry Group PLC 1,430.0 8.5%
WPP PLC 746.6 5.6%
Entain PLC 647.2 5.1%
Whitbread PLC 3,008.0 3.7%
SSE PLC 1,970.0 3.0%
Yesterday’s UK 100 Laggards Price (p) % Chg
Associated British Foods PLC 2289.0 -8.5%
Admiral Group PLC 2814.0 -4.0%
Spirax Group PLC 7295.0 -2.8%
Astrazeneca PLC 12688.7 -2.7%
Smith (Ds) PLC 452.2 -2.6%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,242 -0.3% 10.8%
DOW JONES INDUS. AVG 40,756 -0.5% 17.7%
DAX INDEX 18,577 -0.1% 17.8%
NIKKEI 225 36,657 -1.1% 10.3%
S&P/ASX 200 INDEX 7,982 0.4% 10.0%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 69.15 -0.07%
Brent Crude (ICE) USD/bbl. 72.87 0.23%
Gold Spot USD/t oz. 2,517 0.8%
Copper (Comex) USd/lb. 414 1.4%
The UK 100 called to open -11 points at 8,231

1 Hours; 4 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -11 points at 8,231. The UK 100 looks set to open moderately lower this morning as investors look ahead to today’s non-farm payroll announcement.

Stateside yesterday saw the S&P dipped 0.3% to end at 5,503.41, while the Dow Jones lost 219.22 points, or 0.54%, to settle at 40,755.75. The Nasdaq gained 0.25% to finish at 17,127.66, after rising as much as 1.2% earlier in the session.

Asian shares traded mixed Friday ahead of a highly anticipated U.S. jobs report that’s expected to influence how the U.S. Federal Reserve will move on interest rates.

Japan’s benchmark Nikkei was little changed in morning trading, gaining less than 0.1% to 36,657.79. Australia’s markets rose 0.6% to 7,998.00, while South Korea’s Kospi slipped 1.8% to 2,529.31. The Shanghai Composite gained 0.3% to 2,797.15. Trading was halted in Hong Kong because of an approaching typhoon.

 

Company News & Broker Comments:

Company News:

 

Berkeley Group today announced trading has been stable over the first four months of the year and are on target to achieve pre-tax earnings guidance for the full year ending 30 April 2025 of £525 million, 90% of which is already secured through exchanged sales contracts.  Pre-tax profits for the year are expected to be weighted towards the first half, similarly to last year, and operating margin will therefore be slightly ahead of long-term range (17.5% to 19.5%) for this period.  Net cash at 31 October 2024 will be around £450 million (30 April 2024: £532 million) following shareholder returns of £229 million in the first half, including a £184 million proposed special dividend that is subject to approval by shareholders at today’s AGM.

 

GSK today announced positive headline results of MATINEE, the phase III clinical trial evaluating Nucala (mepolizumab), a monoclonal antibody that targets interleukin-5 (IL-5) in adults with chronic obstructive pulmonary disease (COPD).

 

Broker Comments:

No New broker comments

 

Reporting Today:

UK

 

Berkeley Group

Darktrace

Hilton Food Group

Playtech

 

 

US

 

None

 

Reporting Monday:

UK

 

C&C Group*

Computacenter

 

 

US

 

Oracle

 

 

In Focus Today:

German Industrial Production

German Trade Balance

EU Employment Change

EU Gross Domestic Product

US Average Hourly Earnings

US Labor Force Participation Rate

US Nonfarm Payrolls

US Unemployment Rate

 

 

Next Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 12th September 2024:

 

Endeavour Mining

Intertek Group

M&G

 

 

UK 250 companies going ex-dividend on 12th September 2024:

 

Baltic Classifieds Group

Goodwin

Grafton Group

Direct Line Insurance Group

Alpha Group International

International Public Partnerships

Apax Global Alpha

Bakkavor Group

SDCL Energy Efficiency Income 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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