Energy and Mining stocks are topping the UK Index this morning with gains of 2-3% after Brent Crude Oil broke back above the symbolic $50/barrel 6-month highs overnight and an easing in US Dollar strength benefits the greenback-denominated raw materials space as a whole. Sceptics will point to the breakout by oil – inspired by…
It’s not going to happen, but the markets are still fannying around with it. Do you want to be thousands of pounds poorer? Of course not – even if you’ve been a good saver since your early teens and actually have a thousand pounds to rub together, you don’t want it to evaporate on 23…
Marks & Spencer (MKS) shares are left holding the blue-chip wooden spoon this morning after disappointing full year results missed consensus, adding to the retailer’s list of woes. A near 20% decline in profits after booking £200m in charges (International, UK store review, IT) and more margin-hampering short-term investment in pricing and employees required to…
Accendo FX – Weekly Currency Newsletter, 23 – 27 May 2016 — Macro observations The USD Basket (DX) continues to show strength as markets start pricing in a June US interest rate hike. Still the currency in focus this week, we’re light on US data but heavy on fed speeches. Data-wise, PMI and New Home…
Ryanair (RYA) shares are demonstrating impressive resilience despite news that FY net profit growth is set to slow (+13% vs +43%) and after management delivered an uncharacteristically downbeat update, highlighting terrorism worries potentially pushing falling ticket prices even lower (forecast -7% this year) and a rising oil price requiring prudence. While caution was called for…
20 May Marketwatch Friday’s advances arrived “as concerns about U.S. rate-hike timing following the release of the latest [Fed minutes] ease into the end of what has been an exciting, yet volatile, week,” said Accendo Markets analysts in a note. (http://www.marketwatch.com/story/UK Index -100-bounces-higher-as-fed-effect-fades-2016-05-20) Telegraph Mike van Dulken, of Accendo Markets, said: “The positive opening call comes…