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| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| Melrose Industries PLC | 481.9 | 6.6% |
| Rolls-Royce Holdings PLC | 468.5 | 5.6% |
| Scottish Mortgage Investment Trust PLC | 806.0 | 5.0% |
| Jd Sports Fashion PLC | 123.4 | 2.8% |
| Smith (Ds) PLC | 445.4 | 2.6% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| Rightmove PLC | 524.2 | -4.3% |
| Endeavour Mining PLC | 1559.0 | -4.0% |
| Fresnillo PLC | 533.0 | -3.1% |
| Entain PLC | 503.6 | -3.1% |
| Burberry Group PLC | 696.0 | -2.5% |
| Major World Indices | Price | % Chg | 1 Year |
| UK 100 INDEX | 8,027 | 0.2% | 6.3% |
| DOW JONES INDUS. AVG | 38,998 | 0.8% | 9.9% |
| DAX INDEX | 17,354 | 0.1% | 8.8% |
| NIKKEI 225 | 35,090 | 1.2% | 8.8% |
| S&P/ASX 200 INDEX | 7,700 | 0.3% | 5.3% |
| Commodities | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 73.27 | 0.10% |
| Brent Crude (ICE) | USD/bbl. | 76.52 | 0.05% |
| Gold Spot | USD/t oz. | 2,395 | 0.2% |
| Copper (Comex) | USd/lb. | 400 | -0.7% |
Click graph to enlarge
The UK 100 called to open +82 points at 8,108. The UK 100 looks set to extended gains towards the end of yesterday’s session when trading resumes, it appears that’s for now at least, the global stocks rout has steadied after the Bank of Japan insisted it will not raise interest rates while the financial markets are unstable. Stocks jumped Stateside on Tuesday, recovering some losses from the previous three trading days as investors took a pause from recession fears. The Dow Jones rose 294.39 points, or 0.76%, to end at 38,997.66. The S&P advanced 1.04%, closing at 5,240.03. The tech-heavy Nasdaq gained 1.03% to settle at 16,366.85. The major averages snapped a three-day stretch of losses.
Coca-Cola HBC have boosted their annual operating profit and revenue forecast as they posted higher H1 revenue, helped by its measures to mitigate the impact of high inflation and currency fluctuations. They expect FY 2024 revenue growth of between 8-12%, up from its previous target of 6-7%. Organic earnings before interest and taxes growth is expected to lie with the range of 7-12%, up from previous estimates of 3-9%.
Glencore have decided they will not spin off their coal business after securing backing from the majority of its investors who see lucrative earnings from fossil fuels. They reported a net loss of $233m, after recognising $1.7bn in significant items, including around $1bn of impairment charges.
Legal & General posted above-expected 1% rise in H1 core operating profit to £849m, helped by record sales of individual annuities. Their profit was above the £834m expected by average analyst estimates. They continue to expect their 2024 core operating profit to grow by mid-single digits YoY and was making progress on a £200m share buyback.
WPP have agreed to sell their controlling stake in FGS Global to minority shareholder KKR for $775m. They also downgraded their 2024 guidance, as the proceeds from the sale will be used to reduce its debt.
Barclays Downgrades DS Smith to Equal-weight from Overweight (3 Buys / 5 Holds / 0 Sells)
Barclays Upgrades Mondi to Equal-weight from Underweight (5 Buys / 5 Holds / 0 Sells)
Canaccord Upgrades Spirent Communications to ‘Speculative Buy’ from Hold (1 Buy / 2 Holds / 0 Sells)
RBC Downgrades BP to ‘Sector Perform’ from Outperform (6 Buys / 5 Holds / 1 Sell)
Stifel Downgrades Great Portland Estates to Hold from Buy (6 Buys / 5 Holds / 2 Sells)
Stifel Upgrades Hammerson to Buy from Hold (1 Buy / 5 Holds / 3 Sells)
UK
4imprint Group
Coca-Cola HBC
Ibstock
Legal & General Group
Quilter
TP ICAP
Tritax Big Box REIT
WPP Group
US
Novo Nordisk
Shopify
The Walt Disney Co
Jackson Financial
Occidental Petroleum
UK
Beazley
Derwent London
Entain
Harbour Energy
Helios Towers
Hikma Pharmaceuticals
Hill & Smith Holdings
Lancashire Holdings
Morgan Sindall
Page Group
Persimmon
Savills*
Spirax Group
TI Fluid Systems
US
Eli Lilly and Co
Viatris
Gilead Sciences
Take-Two Interactive Software
The Trade Desk
Unity Software
Chinese Exports
Chinese Imports
Chinese Trade Balance
German Industrial Production
German Trade Balance
UK 100 companies going ex-dividend on 8th August 2024:
BT Group
Ashtead Group
Informa
Unilever
AstraZeneca
Rentokil Initial
NatWest Group
IMI
SEGRO
Pearson
BP
Standard Chartered
Fresnillo
Melrose Industries
UK 250 companies going ex-dividend on 8th August 2024:
Monks Investment Trust
Jupiter Fund Management
Man Group
GCP Infrastructure Investments
Aberforth Smaller Companies Trust
Games Workshop Group
Inchcape
Scottish American Investment Company
Vesuvius
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