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Morning Report - 9 July 2024

Yesterday’s UK 100 Leaders Price (p) % Chg
Beazley PLC 688.0 4.1%
Smurfit Kappa Group PLC 3,656.0 3.5%
B&M European Value Retail S.A. 455.2 2.6%
Rolls-Royce Holdings PLC 463.2 2.0%
Convatec Group PLC 243.8 1.9%


Yesterday’s UK 100 Laggards Price (p) % Chg
Sage Group PLC 1065.0 -1.9%
Fresnillo PLC 582.1 -1.8%
Londonmetric Property PLC 190.2 -1.8%
Schroders PLC 376.2 -1.4%
SSE PLC 1829.0 -1.4%


Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,193 -0.1% 13.4%
DOW JONES INDUS. AVG 39,414 0.1% 17.5%
DAX INDEX 18,487 0.1% 19.0%
NIKKEI 225 40,781 -0.3% 25.9%
S&P/ASX 200 INDEX 7,763 -0.8% 10.2%
Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 82.77 -0.47%
Brent Crude (ICE) USD/bbl. 86.29 -0.29%
Gold Spot USD/t oz. 2,368 -1.0%
Copper (Comex) USd/lb. 465 -0.1%


The UK 100 called to open +2 points at 8,195

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:

The UK 100 called to open +2 points at 8,195.  The UK’s blue chip index looks set to edge higher again this morning as it attempts to find its feet under the new Labour Government. This follows on from a widely uneventful trading session yesterday, however, in the US, the S&P 500 and Nasdaq both hit new all-time highs in the US, traders will be eyeing a feedthrough to the London markets.



Company News & Broker Comments:

Company News:

BP expects their Q2 upstream production to be “broadly flat” QoQ.


Hunting says H1 trading beats management expectations as H1 EBITDA “likely” to total $59-61m, up 22% YoY.


John Wood wins an engineering contract for largest floating offshore gas facility by Shell.


PageGroup reports softening activity levels in Q2, with a Q2 gross profit of £224.3m, down 15% YoY.


Vistry Group expects their annual profit to increase by 7%, buoyed by resilient demand for its affordable homes from housing associations and the rental segment.



Broker Comments:

Deutsche Bank Upgrades Currys to Buy from Hold (5 Buys / 2 Holds / 0 Sells)


Deutsche Bank Upgrades Kingfisher to Buy from Hold (3 Buys / 7 Holds / 2 Sells)


Deutsche Bank Upgrades Moonpig to Buy from Hold (6 Buys / 2 Holds / 0 Sells)


JP Morgan Downgrades ITM Power to Neutral from Overweight (6 Buys / 4 Holds / 2 Sells)

Reporting Today:



Hunting PLC

Vistry Group PLC






Reporting Tomorrow:



Barratt Developments PLC

Big Yellow Group PLC*

Grafton Group PLC

PageGroup PLC

Zigup PLC

Liontrust Asset Management








In Focus Today:

Fed’s Chair Powell testifies



This Week’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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