8 Dec Financial Times Mike van Dulken, head of research at Accendo Markets, said the profits warning was “an unwelcome early Christmas present”. “Shrinking the group may well lead to long-term improvements in profitability, but it also means more restructuring and more exceptional costs in the quarters to come. Further government-inspired Brexit uncertainty and clients shying…
Shareholders in support services group Capita (CPI) have been left holding the UK Index wooden spoon this morning after its 2016 pre-close trading update included an unwelcome early Christmas present; another full-year profits warning. The company said last month that a Brexit inspired slowdown meant it needed to simplify the group to ensure organic growth…
1:30pm on December 8 marks the start time of the press conference held by Mario Draghi, the head of the ECB, after the final 2016 meeting of the bank’s monetary policy setting committee, the Governing Council, with the group’s decision announced at 12:45pm. What are the possible outcomes for the meeting and what will be the…
The headlines today might be focused on ongoing events for Italian banks following Sunday’s referendum result, however the UK banks are making tremendous headway on the UK 100 this morning. Leading names including RBS (+3.9%), Standard Chartered (+3.8%), Lloyds (+3.5%) and Barclays (+3.2%) are enjoying stellar performances near the top of the index this morning, whilst even…
Macro observations Italy has voted to reject constitutional reforms and the country’s Prime Minister, Matteo Renzi, has gone down alongside his proposals. This has thrust the Euro back into the spotlight as a busy week for European policy makers begins. The continued fallout from the Italian population’s overwhelming ‘No’ to Renzi’s proposed streamlining of the…
The UK Index ’s Miners, beloved of retail investors, have been doing rather well of late, posting gains of up to 15% since Trump’s election on hopes he will unleash a huge programme of fiscal stimulus and US infrastructure spending. This fresh requirement of raw materials like Copper, Aluminium, Zinc, Iron ore, etc, could breathe a…