With Provident Financial Group (PFG) shares down as much as 75% today, what are the chances that the sub-prime lender will go bust? At least in the near-term, this looks unlikely. While the restructuring of debt collection operations is eating into finances, the core divisions of the business (including Buybarn, Satsuma and Vanquis) continue to…
Macro observations This week, central bank policymakers from across the world descend upon Wyoming for the US Federal Reserve’s 39th annual Jackson Hole symposium. 2017’s three-day meeting, focusing on the topic of ‘Fostering a Dynamic Global Economy’, is set to be by Fed Chair Janet Yellen and ECB President Mario Draghi, with both speaking at the…
Events over the past two weeks have rudely awakened financial markets from their Summer lull. The first risk-off move came after threats of a North Korean missile attack on Guam, while the second as President Trump’s business councils were disbanded. However, far from ridding investors of the potential to profit from summer markets, these exciting…
The rather quiet state of affairs over the course of the summer has resulted in a particularly major casualty. However, with the beginning of September less than 14 days away, will the old adage ‘Sell in May and return on St. Ledgers day’ ring true this year and save the sector? From my point of…
18 Aug DigitalLook (Link) Analysts at Accendo Markets noted that the Footsie had fallen below its 200-day moving average but was closing in on a return to four-month support at 7,300. “European equities are sharply negative as another major risk-off move grips global markets. Concerns that the White House has burnt bridges with the business sector, hurting…
Macro observations Last week saw geopolitical tensions between the US and North Korea reach fever pitch as the leaders of both sides stepped up the war of words. However, after a weekend in which both the tweet-happy Trump and unpredictable Kim avoided further warmongering, FX traders have returned to relative calm. As a result, eyes…