Macro observations As the dust settles after the one of the most surprising and insightful general elections in recent British history, foreign exchange traders will have to re-adjust their forecasts for Pound Sterling. When the election was called, Prime Minister Theresa May and her Conservative party were expected to significantly increase their parliamentary majority. However,…
Financial markets detest uncertainty… well, unless that uncertainty causes the value of sterling to fall, boosting the earnings of some 70% of UK 100 constituents trading in dollars, and results in an index gain nearing record levels – welcome to the general election fallout! Does this mean the UK Index could continue to trickle north…
Among the UK 100 ’s worst performers, following yet another political surprise, are sectors that our clients love to trade. With Conservative PM May set to remain in power has anything changed? Shares are already well off their worst levels implying calm returning. Was the sell-off overdone? Is there potential for further recovery? Are we…
9 June Telegraph Mike van Dulken and Henry Croft at Accendo Markets explain: “A very positive opening call comes as UK Index investors embrace fresh GBP weakness following a hung parliament result from the UK election. Whilst this means uncertainty about the UK economy and of course Brexit negotiations, the index’s international exposure means it benefits from…
5.45am As it stands, this could go down as one of the most impressive political backfires in UK history. After Brexit, of course. From a position of apparent strength less than six weeks ago, it looks very likely that PM May will see her parliamentary majority erased. A Conservative loss of outright power would surely…
Berendsen (BRSN) is today’s winner, +8.4% after agreeing to a revised £2.2bn offer from French workwear rental and laundry service competitor Elis (ELIS). As suggested 18 May, previous rebuffs merely served to extend the M&A tango and encourage a third bid. As expected, BRSN has successfully eked out a better offer for shareholders. The latest…