Shareholders in specialist building products supplier SIG (SHI) are breathing a collective sigh of relief this morning after a handsome 10% share price jump. This more than makes up for yesterday’s worrying near-6% pre-trading-update drop and takes the shares to the top of the UK-s more domestic focused . It also reverses a poor start…
Shareholders in struggling defence and aerospace engineer Cobham (COB) are fuming this morning, back in familiar territory at the bottom of the after yet another profits warning. This latest has sent shares back to lows of late October (only marginally higher than June’s lowest in 11yr) when management last disappointed. Worse still, this one has…
A very strong Christmas trading update (best in 7 years) from supermarket Morrison (MRW) has allowed it upgrade profits guidance, helping its shares outperform this morning. This, coupled with a positive sector assessment of the Christmas period by surveyor Neilson, is giving a real boost to peers. Cost conscious shoppers putting it off until the…
Macro observations Never doubt the impact a speech can have. Prime Minister Theresa May’s first interview in 2017 has revived talk of a ‘hard Brexit’ following a conspicuously quiet Christmas and New Year, providing an immediate impact in currency markets. During the morning trading session on Monday Pound Sterling has retraced its November recovery, with Cable to falling…
Shares in engineer Babcock International (BAB) are down in the dumps this morning, footing the blue-chip UK 100 index on a combination of analyst downgrade (Deutsche Bank; Hold from Buy) and charting technicals. The shares had already peaked on Friday, at the ceiling of a 3-month falling channel that coincides with a 100-day moving average…
Having come back from the New Year break, it seemed that nothing could slow down the speed of the UK 100 santa rally, carrying on where it left off before Christmas. Refreshed and ready to go, traders helped the index storm not just one, but two fresh all-time highs during the course of shortened trading…