Shares in #1 UK grocer Tesco have already given up 2% results-inspired gains as investors dig deeper into what is, on the surface, a solid set of results. Drastic Dave Lewis’ continued aggressive cost-cutting has helped deliver an impressive eight-fold increase in pre-tax profits and a consensus beat once exceptionals are stripped out. Great news…
Macro observations If last week was the week of the central bankers, this week, it’s time for the politicians to take back control. Figuratively, at least. After the chaos of the Catalonian independence referendum over the weekend, the European Union has reiterated the Spanish government’s view that the referendum was illegal, as well as maintaining…
29 Sept DigitalLook (Link) “While it has retreated from its overnight highs of $1289, the precious metal is holding above support at $1284,” said analysts at Accendo Markets. 28 Sept Telegraph (Link) Accendo Markets head of research Mike Van Dulken explains why markets might be showing a little caution this afternoon: “It’s a cautious market welcome to a…
Over the past month, the winds have begun to change. After 10 long years of accommodative monetary policy from global central banks, the rest of the world has begun to catch up with the US Federal Reserve. UK Banks have been on the back foot since February, with a combination of continued ultra-low interest rates,…
My colleague is sure to have caught your eye by talking about the Banks being likely to benefit from a UK interest rate rise by year-end. So it’s my turn to look the other way and discuss who might suffer. Banks profitability might indeed get a boost from being able to lend out money more…
Macro observations With the Bank of Japan rounding off global central bank meetings for another month, this week, policymakers at the US Federal Reserve, the European Central Bank and the Bank of England will be paraded in front of investors in order to convey the next steps for monetary policy normalisation. Federal Reserve Chair Janet…