It’s the UK 100 ’s commodity contingent that is holding it back from more impressive gains this morning. A stronger USD is the result of from hawkish Fed chat weighing on metals prices (industrial and precious) and their Miners (down 2-4%) and a pullback by oil prices weighing on general sentiment for the key space. This is…
The major driver this week has been….. drum roll please….. Brexit! But not Brexit itself, more the propensity for UK macroeconomic indicators to fly in the face of the ‘doom and gloom’ warnings that have hitherto dominated the headlines post-referendum. On Tuesday, we saw a raft of UK inflation and retail sales prints smash expectations,…
Remember that minor referendum the UK had on EU membership at end-June? You’d almost be forgiven for forgetting it ever happened. The only thing that has really changed is the value of the pound while UK stocks have delivered a stellar 20% recovery to beyond pre-Brexit levels and a host of macro-economic data (inflation, jobs, retail…
19 Aug Citywire Equities are on the back foot into the end of what has been a week of reversal from post-Brexit highs,’ said Mike van Dulken, head of research at Accendo Markets. ‘Markets remain hopeful that the generous monetary policy circus still has life left in it to fuel the tandem rally of both equities…
What we’re seeing a lot of nowadays is companies blaming Brexit when things aren’t going their way. This morning, for example, shares in insurer Admiral Group went down by 7% after its H1 2016 results missed analysts’ forecasts. The reason? Brexit! Meanwhile construction firm Balfour Beatty saw its share price rise by 7% after its…
Chilean copper miner Antofagasta is the standout performer in early trade this morning, this despite it being a down day for the UK 100 index. The shares are up an impressive 4.4% today thanks to a handful of drivers including management assuaging investors by reaffirming higher Full year output guidance, even if it looks to be…