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Morning Report - 2 April 2025

Yesterday’s UK 100 Leaders Price (p) % Chg
Rolls-Royce Holdings PLC 784.2 4.7%
Hiscox LTD 1,207.0 2.6%
Barclays PLC 295.0 2.5%
Rentokil Initial PLC 355.2 2.2%
Easyjet PLC 451.8 2.2%
Yesterday’s UK 100 Laggards Price (p) % Chg
WPP PLC 564.1 -2.9%
Sainsbury (J) PLC 230.8 -1.9%
Informa PLC 755.6 -1.8%
International Consolidated Airlines Group S.A. 256.6 -1.6%
Entain PLC 569.8 -1.4%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,635 0.6% 8.8%
DOW JONES INDUS. AVG 41,990 0.0% 7.2%
DAX INDEX 22,540 1.7% 23.3%
NIKKEI 225 35,652 0.1% -10.5%
S&P/ASX 200 INDEX 7,935 0.1% 0.6%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 71.24 0.06%
Brent Crude (ICE) USD/bbl. 74.52 0.04%
Gold Spot USD/t oz. 3,116 0.1%
Copper (Comex) USd/lb. 505 0.3%
The UK 100 called to open -24 points this morning at 8,610.

4 Hours; 2 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -24 points this morning at 8,610. The UK 100 looks set to open lower this morning as traders weigh up the potential size and scale of President Trump’s tariffs.

 

The S&P climbed on Tuesday in another volatile session as the market awaited clarity from President Donald Trump regarding his tariff policy rollout. Wall Street also faced pressure from weaker-than-expected economic data.  The broad market index added 0.38% to close at 5,633.07, while the Nasdaq gained 0.87% and ended at 17,449.89. The Dow Jones slipped 11.80 points, or 0.03%, to settle at 41,989.96. The S&P 500’s whipsaw moves follow a similar pattern of trading from Monday. At its high on Tuesday, the broad market index climbed 0.7%, but the benchmark was down by nearly 1% at its session low.

 

Markets in Asia slipped this morning, Japan’s Nikkei slipped 0.3% and South Korea’s benchmark index was 0.57% lower. The Hang Seng Index in Hong Kong dropped 0.8%. In mainland China, the CSI 300 Index declined 0.1%.

 

Company News & Broker Comments:

Company News:

Greencore has reached an agreement in principle to buy ready meals supplier Bakkavor.  Greencore will buy Bakkavor in cash and shares, valuing the latter at about £1.2 billion. It translates to about a 33% premium to Bakkavor’s share price on March 13, the day before the pair started talking.  Under the merger, Greencore shareholders would own 56% of the business, with the rest going to Bakkavor’s investors.

 

Raspberry Pi has reported lower revenue and profit for 2024, hit by destocking in the tech industry.  The company said that now that inventory levels have normalised, it anticipates that demand will build steadily through the course of this year. Profit is set to rise and the group said it has sufficient memory supply to meet demand into the fourth quarter of this year.  The company listed in London last year and had a strong start to life in the market, but saw its shares drop by 25% in the first quarter of this year amid the broader tech selloff in global markets.

Reporting Today:

UK

 

Raspberry Pi Holdings (RPI)

 

 

US

 

None

 

Reporting Tomorrow:

UK

 

Moonpig Group (MOON)

 

US

 

Constellation Brands (STZ) AMC

Guess (GES) AMC

In Focus Today:

US ADP Employment Change

US Factory Orders

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 3rd April 2025:

 

Phoenix Group Holdings

Mondi

Rentokil Initial

Barratt Redrow

IMI

InterContinental Hotels Group

Smiths Group

UK 250 companies going ex-dividend on 3rd April 2025:

 

Ithica Energy

Pollen Street Group

Domino’s Pizza Group

Breedon Group

Direct Line Insurance Group

Murray International Trust

VinaCapital Vietnam Opportunity Fund

RIT Capital Partners

Finsbury Growth & Income Trust

European Smaller Companies Trust

Smithson Investment Trust

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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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