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Morning Report - 11 July 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Endeavour Mining PLC 1,831.0 3.9%
Fresnillo PLC 608.0 3.8%
Entain PLC 660.2 3.2%
International Consolidated Airlines Group S.A. 178.0 3.0%
Prudential PLC 735.2 2.8%
Yesterday’s UK 100 Laggards Price (p) % Chg
Sage Group PLC 1033.0 -2.0%
WPP PLC 727.7 -1.9%
Barratt Developments PLC 485.1 -1.2%
Smith (Ds) PLC 415.2 -1.1%
Halma PLC 2652.0 -0.9%


Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,194 0.7% 12.5%
DOW JONES INDUS. AVG 39,721 1.1% 15.9%
DAX INDEX 18,407 0.9% 16.6%
NIKKEI 225 42,224 0.9% 31.4%
S&P/ASX 200 INDEX 7,890 0.9% 11.0%


Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 82.69 0.72%
Brent Crude (ICE) USD/bbl. 85.70 0.73%
Gold Spot USD/t oz. 2,381 0.4%
Copper (Comex) USd/lb. 462 0.2%
The UK 100 called to open +15 points at 8,208

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +15 points at 8,208.  The UK 100 looks set to open higher this morning, continuing on from a strong showing yesterday.  Better than expected GDP figures out this morning may add to the optimistic sentiment, the data showed the economy had grown 1.4% year or year to May, higher than the expected read of 1.2%.  The S&P 500 climbed Wednesday to a fresh record, breaking above 5,600 for the first time, as a sharp rise in semiconductor stocks led the market higher.  The broad market index jumped 1.02%, closing at 5,633.91, and notching a seventh straight day of gains. The Nasdaq advanced 1.18%, also hitting an all-time high and ending at 18,647.45. It was the 37th record close in 2024 for the S&P 500, and the 27th for the tech-heavy Nasdaq. The Dow Jones added 429.39 points, or 1.09%, to close at 39,721.36.



Company News & Broker Comments:

Company News:

Bunzl buys Sistemas De Embalaje Anper and Holland packaging.


Hays have forecast their annual profit to be at the bottom end of market view after reporting lower net fees for Q4 amid sluggish hiring conditions. They expect to post an annual pre-exceptional operating profit of £105m, slightly below analyst consensus range of £106-113m.


Jet2 report that their FY24 pretax profit increased 43% to £529.5m, up from £371m YoY. They have raised their FY24 final dividend by 34% to 10.7p per share. Their summer 2024 pricing has showed a modest increase helping to offset cost rises.


Pennon CFO Steve Buck is to step down and be replaced by Laura Flowerdew.


Severn Trent state that their financial performance for the year remains on track as they expect performance to be in line with market guidance.


Trust Pilot report H1 revenues of $100m, up 18% YoY from $85m. Their annual recurring revenue increased 17% and their H1 bookings increased 20% YoY. They have confirmed guidance of mid-teens constant currency revenue growth in 2024.


Wood Group have reconfirmed their outlook for both 2024 and 2025.



Broker Comments:

Deutsche Bank Upgrades Liontrust Asset Management to Hold from Sell (4 Buys / 3 Holds / 1 Sell)


RBC Downgrades Anglo American to ‘Sector Perform’ from Outperform (4 Buys / 8 Holds / 1 Sell)

Reporting Today:



Hays PLC

Severn Trent PLC

Trustpilot Group PLC

Jet2 PLC

Wood Group PLC




Delta Air Lines



Reporting Tomorrow:



Ashmore Group PLC




Citigroup Inc

JPMorgan Chase & Co

Wells Fargo & Co




In Focus Today:

German Harmonized Index of Consumer Prices

UK Gross Domestic Product

UK Industrial Production

UK Manufacturing Production

US Consumer Price Index

US Initial Jobless Claims



Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 11th July 2024:





UK 250 companies going ex-dividend on 11th July 2024:


WH Smith

Oxford Instruments

CMC Markets

Global Smaller Companies Trust

Merchants Trust

Balanced Commercial Property Trust

Supermarket Income REIT


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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