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Morning Report - 16 April 2025

Yesterday’s UK 100 Leaders Price (p) % Chg
3I Group PLC 4,130.0 5.8%
St. James’s Place PLC 900.4 4.2%
Intermediate Capital Group PLC 1,816.0 3.8%
Segro PLC 669.8 3.8%
Fresnillo PLC 1,058.0 3.7%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Diageo PLC 2,036.0 -3.5%
Glencore PLC 256.0 -1.6%
Pershing Square Holdings LTD 3,352.0 -1.1%
Rentokil Initial PLC 334.2 -0.5%
Astrazeneca PLC 10,280.0 -0.4%
Major World Indices Price % Chg 1 Year
UK 100 INDEX 8,249 1.4% 5.5%
DOW JONES INDUS. AVG 40,369 -0.4% 6.8%
DAX INDEX 21,254 1.4% 19.6%
NIKKEI 225 33,726 -1.6% -12.3%
S&P/ASX 200 INDEX 7,758 -0.1% 2.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 60.63 -1.14%
Brent Crude (ICE) USD/bbl. 63.97 -1.08%
Gold Spot USD/t oz. 3,288 1.8%
Copper (Comex) USd/lb. 462 -1.4%
The UK 100 called to open -44 points this morning at 8,205.

4 Hours; 12 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open -44 points this morning at 8,205.  The UK 100 looks set to follow other global markets lower this morning the bluechip index looks set to give back around half of yesterdays gains at the open.

Data out this morning showed China’s first-quarter economic growth beat expectations, underpinned by solid consumption and industrial output even as policymakers brace for the impact of U.S. tariffs that analysts say pose the biggest risk to the Asian powerhouse in decades.

Asian equity markets declined on Wednesday, following U.S. stock futures lower as caution prevailed, with investors awaiting further clarity on the Trump administration’s trade policies while continuing to parse the fast-moving tariff developments.  The benchmark Hang Seng Index was down 2.5% by midday in Hong Kong, led by consumer-oriented internet stocks like Meituan and JD.com, which dropped 7.4% and 6.2%, respectively. China’s Shanghai Composite Index was 0.9% lower.  Japan’s Nikkei Stock Average shed 0.9%. The Kospi of South Korea, another export-driven and tech-heavy economy, fell 0.6%.

U.S. stock futures slipped early Wednesday as investors looked ahead to the release of a key retail sales report and more earnings from the first-quarter season.  Dow Jones futures dropped 328 points, or 0.8%. S&P futures and Nasdaq futures dipped 1.49% and 2.29%, respectively.  In extended trading, shares of Nvidia dropped more than 6% after the chip giant said it will post a $5.5 billion quarterly charge related to exporting its H20 graphics processing units to China and other nations.

This comes after U.S. stocks posted modest losses on Tuesday as investors analysed the latest batch of first-quarter earnings reports and enjoyed a recent decline in market turmoil.  The Dow lost 155.83 points, or 0.38%, to close at 40,368.96. The S&P declined 0.17% and ended at 5,396.63. The Nasdaq was down 0.05% and settled at 16,823.17.

Company News & Broker Comments:

Company News:

 

Barratt Redrow said on Wednesday its forward sales – a key gauge of near-term demand – were 10.1% lower at March-end from a year earlier but reiterated its target of building between 16,800 and 17,200 homes this year.  Mounting concerns about the outlook for the UK and the global economy amid a tariff war have further undermined confidence of potential homebuyers already struggling with elevated borrowing costs and sticky inflation.  The company said its private home order book stood at 5,503 homes as at March 31, 3.5% lower than a year ago. However, the value of the order book was 3.3% higher due to modest inflation and a change in sales mix.

 

WH Smith on Wednesday reported slightly lower profit of 45 million pounds ($59.7 million) for the first-half of the year compared with 46 million pounds a year ago, as high inflation and tighter budgets led to lower passenger numbers at travel hubs.

Reporting Today:

UK

 

Barratt Redrow (BTRW)

WH Smith (SMWH)

Hunting (HTG)

 

US

 

Abbott Laboratories (ABT) PMO

 

Reporting Tomorrow:

UK

 

Sainsbury (J) (SBRY)

Rentokil Initial (RTO)

 

US

 

American Express (AXP) PMO

Blackstone (BX) PMO

Taiwan Semiconductor Manufacturing (TSM) E

UnitedHealth Group (UNH) PMO

Netflix (NFLX) AMC

In Focus Today:

Fed’s Cook speech

Chinese Gross Domestic Product

Chinese Industrial Production

Chinese Retail Sales

UK Consumer Price Index

UK Producer Price Index

EU Harmonized Index of Consumer Prices

US Retail Sales

US Industrial Production

Fed’s Hammack speech

Fed’s Chair Powell speech

 

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 17th April 2025:

 

Fresnillo

Unite Group

Convatec Group

BAE Systems

Antofagasta

Weir Group

Rolls-Royce Holdings

London Stock Exchange Group

UK 250 companies going ex-dividend on 17th April 2025:

 

Dowlais Group

TwentyFour Income Fund

Grafton Group

Jupiter Fund Management

Travis Perkins

Merchants Trust

JPMorgan American Investment Trust

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