This week provided a fine example in ‘sector read-across’ with management updates from two major corporates contributing to huge share price moves for both themselves and sector peers. The sectors in question are client favourites, intricately linked to consumer confidence and likely to figure in many a portfolio – Retail, which I talk about below,…
Shares in the newly merged and renamed interdealer broker TP ICAP (TCAP) are top of the more UK-focused this morning, bulls pushing them to a test of 8.5yr highs. The jump higher comes courtesy of a reassuring – albeit brief – FY trading update regarding performance in Q4 with management suggesting 2016 revenues will be…
6 Jan Digital Look Mike van Dulken, head of research at Accendo Markets, said: “It’s the first Friday of the month meaning today’s focus will be the afternoon’s US jobs report, not so much for the notorious volatility-inducing non-farm payrolls (beware: yesterday’s ADP surprised to the downside) but for accompanying metrics. “The unemployment rate is seen…
Whilst many stipulated back in November that the dizzying post Trump rally could not reach much further than the 19,000 point barrier (in itself an achievement), few would have thought that 20,000 was a possible target. Yet here we are. And have been for some time now. 19,000 was broken within two weeks of Trump’s…
Shares in Persimmon (PSN) are topping the blue-chip leader board this morning thanks to a strong FY trading update that highlighted revenues +8%, selling volumes and prices both +4% and expansion in gross margin. The well-received update from management has seen bullishness among investors push the shares above their recent highs and 200-day moving average…
This morning’s fourth quarter update from UK retail stalwart Next was never forecast to be impressive. However, the surprising magnitude with which the company missed expectations resulted in Next’s share price falling by as much as 16% shortly after the London market opening this morning, a performance that has continued into this afternoon with the shares…