Next shares surged as much as 12% this morning to test May highs as investors breathed a sigh of relief. Here are five potential reasons why; Sales growth is an endangered species on the high street amid fierce online competition. News of Q2 sales +0.7%, boosted by directory (includes key online segment) and good weather,…
Rolls Royce shares are 8.5% to the good this morning, potentially on course for their best daily gain in almost 18 months (12 Feb 2016, +14%). The jump comes after first half results revealed a better than expected return to profitability (H1 last year impacted by Brexit vote GBP plunge hurting currency hedges), propelling the…
4 Aug Guardian Mike Van Dulken of Accendo Markets says there is “unrelenting US dollar weakness” right now. https://www.theguardian.com/business/live/2017/aug/04/us-dollar-grand-jury-non-farm-payroll-jobs-business-live 3 Aug Pound Sterling Live BoE Chief Economist Andy Haldane teased markets after last month’s policy update, suggesting he was close to jumping the fence vote for a rate hike in light of overheating inflation,” says Michael van Dulken,…
Macro observations As we move headlong into August, a continuing theme has emerged in foreign exchange markets concerning the performance of the global reserve currency. Having traded at a 14-year high only two days into the new year, the US dollar has since fallen over 10% to its lowest level since May 2016. Investors will…
UK Index Tobacco shares are sharply lower (down 4% to 7%), weighing on the blue-chip index into the close (7.6% of index) as investors interpret any US regulatory efforts to dampen demand for cigarettes, by reducing nicotine to non-addictive levels, as a negative for the industry. This may be an overreaction, however. Firstly, this is…
28 July The Telegraph Sentiment this morning has been dented by fresh dollar weakness “delivering more unwelcome pound and euro strength” to European equity markets, according to Accendo Markets head of research Mike Van Dulken. The pound has nudged up 0.2pc against the dollar today, trading at $1.3090.Copper coming off this week’s highs to hit miners…