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Morning Report - 17 February 2025

Yesterday’s UK 100 Leaders Price (p) % Chg
Entain PLC 744.4 6.8%
Intermediate Capital Group PLC 2,426.0 2.4%
Rentokil Initial PLC 424.7 2.3%
Glencore PLC 353.2 2.2%
Croda International PLC 3,246.0 1.4%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Schroders PLC 371.6 -3.1%
International Consolidated Airlines Group S.A. 338.5 -2.6%
Astrazeneca PLC 11,708.0 -2.1%
Hikma Pharmaceuticals PLC 2,292.0 -2.1%
Natwest Group PLC 428.1 -2.0%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 8,732 -0.4% 13.2%
DOW JONES INDUS. AVG 44,546 -0.4% 15.3%
DAX INDEX 22,513 -0.4% 31.5%
NIKKEI 225 39,174 0.1% 1.8%
S&P/ASX 200 INDEX 8,537 -0.2% 11.5%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 70.69 -0.07%
Brent Crude (ICE) USD/bbl. 74.80 0.08%
Gold Spot USD/t oz. 2,900 0.6%
Copper (Comex) USd/lb. 471 -0.2%

 

The UK 100 called to open -7 points at 8,725

1 Day; 2 Years

Click graph to enlarge

Markets Overview:

The UK 100 called to open +6 points at 8,776.  The UK’s unemployment rate stayed at 4.4% in the three months to December, which compares with City expectations for a figure of 4.5%.  Average earnings including bonuses increased by a bigger-than-expected 6% on a year earlier, up from the previous month’s 5.5%.

U.S. stock futures rose early Tuesday, trading in a holiday-shortened trading week.  Dow futures advanced 37 points, or 0.08%. S&P futures and Nasdaq futures climbed 0.2% and 0.29%, respectively.  Wall Street is coming off a winning week for the major averages. The Dow Jones Industrial Average gained roughly 0.6% last week, while the S&P 500 advanced 1.5%. The Nasdaq Composite rose 2.6%.

 

Company News & Broker Comments:

Company News:

Antofagasta PLC reported a strong financial performance for 2024, with revenue increasing by 5% to $6.6 billion, driven by higher copper prices. The company achieved an 11% rise in EBITDA to $3.4 billion and widened its EBITDA margin to 52% due to robust cost control and efficiency improvements. The proposed final dividend reflects confidence in the business’s future, aligning with a 50% payout of underlying earnings. The Competitiveness Programme exceeded its target by achieving $248 million in savings, highlighting operational efficiencies. Additionally, the Ore Reserve estimate at Centinela increased significantly, and the company’s guidance for 2025 remains optimistic, with planned capital expenditure of $3.9 billion to advance growth projects.

 

InterContinental Hotels, whose brands include Holiday Inn Express and Crowne Plaza, today unveiled the acquisition of European city centre chain Ruby.  The addition of its 20th brand was announced alongside annual results showing a 10% rise in operating profit to $1.12 billion (£890 million) for 2024.  Revenue per available room grew by 3% in the year, boosted by an acceleration to 4.6% in the fourth quarter.  IHG has over 6,600 hotels in more than 100 countries, with a development pipeline of over 2,200 properties.  The group also announced a 10% increase in its dividend, alongside the launch of a new $900 million (£719.4 million) buy back of shares.

 

 

Broker Comments:

No New Broker Comments

 

 

Reporting Today:

UK

 

Antofagasta (ANTO)

InterContinental Hotels Group (IHG)

Plus500 (PLUS)*

 

US

 

Baidu (BIDU) PMO

Medtronic (MDT) PMO

Arista Networks (ANET) AMC

Occidental Petroleum (OXY) AMC

 

Reporting Tomorrow:

UK

 

BAE Systems (BA.)

Glencore (GLEN)

Rio Tinto (RIO)

 

US

 

Fiverr International (FVRR) PMO

Etsy (ETSY) AMC

Jackson Financial (JXN) AMC

In Focus Today:

UK Average Earnings

UK Claimant Count Change

UK Employment Change

UK ILO Unemployment Rate

German ZEW Survey – Current Situation

German ZEW Survey – Economic Sentiment

EU ZEW Survey – Economic Sentiment

NY Empire State Manufacturing Index

Fed's Daly speech

 

This Week's Ex-Dividends:

UK 100 companies going ex-dividend on 20th February 2025:

 

Imperial Brands

easyJet

Land Securities Group

GSK

AstraZeneca

BP

UK 250 companies going ex-dividend on 20th February 2025:

 

Moonpig Group

NCC Group

PRS REIT

Brunner Investment Trust

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