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Morning Report - 7 October 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Natwest Group PLC 342.5 3.9%
Schroders PLC 360.6 3.9%
Standard Chartered PLC 828.0 3.8%
Croda International PLC 4,300.0 3.7%
Barclays PLC 226.3 3.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
Spirax Group PLC 7120.0 -3.4%
SSE PLC 1838.0 -2.8%
JD Sports Fashion PLC 138.7 -2.7%
Experian PLC 3862.0 -2.5%
Astrazeneca PLC 11738.0 -1.9%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,281 0.0% 10.5%
DOW JONES INDUS. AVG 42,353 0.8% 26.8%
DAX INDEX 19,121 0.6% 25.6%
NIKKEI 225 39,333 1.8% 26.9%
S&P/ASX 200 INDEX 8,205 0.7% 18.0%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 74.26 -0.16%
Brent Crude (ICE) USD/bbl. 77.82 -0.29%
Gold Spot USD/t oz. 2,643 -0.4%
Copper (Comex) USd/lb. 456 -0.3%

 

The UK 100 called to open +24 points at 8,304

1 Day; 6 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +24 points at 8,304.  The UK 100 looks set to open marginally higher this morning, having finished off the week in a positive manner last week.

On Wall Street Friday, markets rallied after significantly stronger than expected jobs data gave investors confidence around the health of the economy.

The S&P rose 0.9% to 5,751.07, while the Nasdaq jumped 1.22% to 18,137.85. The Dow Jones added 341.16 points, or 0.81%, to notch an all-time closing high of 42,352.75.

 

Company News & Broker Comments:

Company News:

 

Ferrexpo reported a 47% year-over-year increase in iron ore production for the first nine months of 2024, despite a challenging third quarter marked by high electricity tariffs and additional costs due to the ongoing war. The company has focused on producing higher quality iron ore products and expanding its customer base in the MENA region to mitigate margin pressures. Additionally, iron ore prices saw a late-quarter recovery, spurred by economic stimulus measures in China.

 

Broker Comments:

Barclays Downgrades DS Smith to Underweight from Equalweight (2 Buy / 7 Hold / 1 Sell)

 

Deutshe Bank Upgrades Experian to Buy from Hold (11 Buy / 6 Hold / 0 Sell)

 

Deutshe Bank Upgrades Intertek to Hold from Sell (11 Buy / 3 Hold / 3 Sell)

 

Reporting Today:

UK

 

None

 

 

US

 

None

 

Reporting Tomorrow:

UK

 

Imperial Brands

UNITE Group

 

 

US

 

PepsiCo

 

 

In Focus Today:

German Factory Orders

EU Sentix Investor Confidence

EU Retail Sales

Fed’s Bowman speech

Fed’s Kashkari speech

Fed’s Bostic speech

Fed’s Musalem speech

UK BRC Like-For-Like Retail Sales

 

 

This Week’s Ex-Dividends:

UK 100 companies going ex-dividend on 10th October 2024:

 

Taylor Wimpey

WPP

Kingfisher

Tesco

 

UK 250 companies going ex-dividend on 10th October 2024:

 

JPMorgan Emerging Markets Invest Trust

Merchants Trust

Bluefield Solar Income Fund

Supermarket Income REIT

Primary Health Properties

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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