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Morning Report - 9 December 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
B&M European Value Retail S.A. 361.5 2.7%
Jd Sports Fashion PLC 104.7 2.2%
Rentokil Initial PLC 408.7 1.7%
Intermediate Capital Group PLC 2,206.0 1.7%
Rightmove PLC 675.2 1.5%
Yesterday’s UK 100 Laggards Price (p) % Chg
Frasers Group PLC 638.0 -3.6%
United Utilities Group PLC 1090.5 -3.4%
Severn Trent PLC 2656.0 -3.1%
Spirax Group PLC 7275.0 -2.9%
Endeavour Mining PLC 1494.0 -2.4%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,309 -0.5% 10.0%
DOW JONES INDUS. AVG 44,643 -0.3% 23.2%
DAX INDEX 20,385 0.1% 21.6%
NIKKEI 225 39,161 0.2% 21.2%
S&P/ASX 200 INDEX 8,423 0.0% 17.1%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 67.73 0.79%
Brent Crude (ICE) USD/bbl. 71.62 0.70%
Gold Spot USD/t oz. 2,650 0.6%
Copper (Comex) USd/lb. 426 1.4%

 

The UK 100 called to open +11 points at 8,319

4 Hours; 8 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +11 points at 8,319. The UK 100 index is set to start today’s session about 11 points higher at 8320, having fallen by 0.5% on Friday.

 

Data out this morning showed China’s annual rate of inflation for November came in below forecasts at 0.2%, down from 0.3% in the previous month. The performance, which compared with estimates of 0.5%, followed the slowest rise in food prices in four months.

 

On Friday The S&P and Nasdaq rose to fresh records on Friday after November’s Non-Farm payrolls data came in slightly better than expected.  The broad market S&P 500 climbed 0.25% to 6,090.27. Tech-heavy Nasdaq advanced 0.81% to 19,859.77. The Dow Jones slipped 123.19 points, or 0.28%, to close at 44,642.52.

Company News & Broker Comments:

Company News:

Boohoo this morning notes the publication and recommendation from Institutional Shareholder Services Inc. that boohoo shareholders vote “AGAINST” the Resolutions at the General Meeting on 20 December, which seek Board representation for Frasers.

 

Vodafone Group announced that it had entered into a binding agreement to sell 100% of its Italian operations to Swisscom AG.  Following the entry into force of the new UK Listing Rules on 29 July 2024, Vodafone released a further announcement on 30 September 2024 containing certain additional information.

 

Broker Comments:

Ashtead Downgraded to Hold by Deutsche Bank (15 Buy/ 4 Hold/ 1 Sell)

 

Frasers Group Downgraded to Equal weight by Deutsche Bank (6 Buy/ 1 Hold/ 0 Sell)

 

Spirax Upgraded to Overweight by Morgan Stanley (7 Buy/ 9 Hold/ 2 Sell)

 

Vodafone Downgraded to Neutral from Buy by Goldman (7 Buy/ 5 Hold/ 2 Sell)

 

Reporting Today:

UK

 

None

 

 

US

 

MongoDB

Oracle

Reporting Tomorrow:

UK

 

Ashtead

Moonpig Group

 

US

 

Gamestop

In Focus Today:

Chinese CPI

Chinese PPI

EU Sentix Investor Confidence

BoE’s Ramsden Speech

 

 

This Week’s Ex-Dividends:

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

 

Associated British Foods

Smith (DS)

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

 

Sirius Real Estate

Ninety One

Investec

Cranswick

Patria Private Equity Trust

SDCL Energy Efficiency Income Trust

TR Property Investment Trust

discoverIE Group

Personal Assets Trust

ZIGUP

Assura

Baltic Classifieds Group

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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